So many entrepreneurs look at the range of products in the Supermarkets or stores and say to themselves ‘I can do better than that!’. When I was growing up, all my classmates wanted to work for a Bank or the Public Service as it was a safe secure job; these days everyone wants to be their own boss.
Cans are proving popular in drinks packaging thanks to their recyclability, expansion beyond the carbonated market; and cost-effective production runs. Far more than its outer shell, drinks packaging is the bridge that connects a product with people.
In the early 80s, actor Paul Newman filled empty wine bottles with his homemade salad dressing and handed them out to neighbours as Christmas presents. When his neighbours began knocking on his door asking for refills, Newman decided he’d try selling it (with profits going to charity). It’s still in shops now.
Over the years I have met many budding entrepreneurs wanting to bring their dreams to life and start up a food & beverage (F&8) business. I have seen Innovative and exciting ideas with great potential, some targeted at the British love of curry. I’ve also seen quite a few that made no sense at all.
Let me start with a bold statement. Your branding is as important as the product itself. You can have the best tasting wine on the market but if no one picks it up and tries it, no one will ever know, 90% of a first-time purchase is based on the branding; it’s why a consumer will pick your product over their regular choice or your competition.
THERE are people who look at a potato and fail to see anything more than proto mash, and there are people bursting with amazingly imaginative ideas of how to use that same potato to fashion fantastic flavour sensations.
Paul Newman did it, Levi Roots did it, but could you take a home-crafted recipe, create a product and turn it into a marketable reality. Of course, you could, but there is a lot of work involved.
Your product may taste absolutely delicious but without brilliant branding it may not be a success. It is vital to remember that 90% of a first-time purchase is based on the branding; it’s why a consumer will pick your product over their regular choice or your competition.
Every startup founder needs to keep in mind that branding is as important as the product itself. 90% of a first-time purchase is based on the branding; it’s why a consumer will pick your product over their regular choice or your competition. So how can startup founders communicate their message to their target audience so that they decide to buy and try?