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- Wednesday CPG INSIGHTS 07/24/24
Wednesday CPG INSIGHTS 07/24/24
🤩 Wednesday CPG Insights
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Hey ,
We're excited to announce that a new section, Creating Your Product, has just been published on the Foodbevy Guide. Chapters are:• Product Market Fit• Start with a Customer Problem• Hero Product• Product Development• Category Norms• Certifications• Ingredient Sourcing• Product Packaging• COGS• Pricing and Margins• Consumer Research and Testing
You can check out the new section here: http://guide.foodbevy.com/
If you have any questions, suggestions, or would like to connect with partners, please email me back. I'd love to hear from you!
Happy reading!
Best regards,Jordan Buckner
MARKETING
Tips On How to Beat Your Competition to Market with Expert Support
Beating your competition to market isn’t just about being the first on shelf. You need to deliver the best possible product. Taking time to ensure your product is delicious, appealing to consumers, and can be produced at scale are keys to staying in front of your competition.
Experts with the right experience help you think ahead and ask the right questions for commercial readiness. They ensure you strike the right balance between speed and meticulous preparation. We spoke to two JPG Talent experts in food science and product development, Bridget Sweeney and Joanna Dwyer, and gathered five practical tips to help your journey to become the market leader in your space.
FINANCE
How Splash Wines Grew Over 3,000% with Aion
Splash had large orders coming in and wanted to buy inventory in larger quantities. The Splash team was growing, too. An expanding customer base introduced a new need for additional team members.
“We needed to meet the increased demand and take advantage of new growth opportunities.”
Splash’s founders knew they didn’t want to give up equity in the business or use a short-term solution.
“We were growing too quickly and our capital needs would continue to evolve in the coming months. We needed a financing partner that was going to help with our immediate need for cash, but also grow with us.”
OPERATIONS
Building Bonds: How Small CPG Businesses Can Thrive with Community-Focused Marketing
Creating a community-focused approach to marketing can be highly beneficial for small, growing Consumer Packaged Goods businesses. This approach fosters loyalty and encourages word-of-mouth promotion, which can significantly enhance your brand credibility.
Here’s a detailed guide on how to take a community-focused approach to marketing.
BUSINESS
How To Get Grocery Buyers to Say Yes
Grocery buyers are notoriously hard to get a hold of, and once you do, even hard to get them to say yes. I’ve chased down buyers for YEARS before getting a meeting. So how do you get more buyers to say yes? Understanding buyer psychology is crucial for any founder aiming to secure shelf space in grocery stores. Buyers are not only seeking innovative products but also products that can drive revenue and or profitability for their category.
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About Foodbevy
Foodbevy helps food and beverage brands grow from startup to scale through inspiration, education, and partnership.
Jordan Buckner
Founder
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