In this episode, he shares several key insights for shelf strategy, as well as the importance of perseverance and vision.
Some key takeaways from the interview:
1. Incorporate consumer feedback to improve your product quality.
2. Perseverance as being the key in growing your business successfully.
3. When it comes to packaging and distribution: find retailers that really believe in you and will give you the time and ability to establish your brand so you can build your metrics and your success story.
4. Production and packaging: Find co-packers who are willing to work with you and your small margins. Develop an honest, straightforward and personal relationship with them.
5. Pricing on shelf: Make sure that your product is affordable. Take note of where your product is being shelved, who your competitors are and what price point will work best in your category.
6. Consistency in branding and packaging: Make initial strategic choices. For instance, the Kidfresh logo and colors convey freshness, simplicity, authencity and quality. Choose colors that will not only stand out from the rest, but will also serve its purpose in representing your brand.
6. To be successful on shelf, visibility is important. Start with minimum SKUs to put on a number of shelves, to be picked strategically depending on variety. Choose a number of stores which are representative enough, allowing you to do some marketing and promotion.
7. Hire the right people as part of your sales and marketing teams.
8. In-store shopping experience: Find a way in which your consumers will have everything they need in one door or shelf. This will make things easier to find, easy to understand, easy to shop and easy to consume.
9. Raising capital: For starters, go with investors whom you know personally or are introduced to you within your network. Once you gain momentum and are able to grow your business better, go for more institutional investors. Find the right match; the more relevant they are to your brand or network, the better.
If you’re looking to launch and grow your food brand on Amazon, head over to the eComBootcamps Food Brand event in Boulder, CO on July 12th. Hosted by Marketplace Seller Courses and eComEngine, and sponsored by Payability, it’s an event you won’t want to miss. Register today for one of the 75 half-off super early bird tickets available. Hurry!
Link: https://msclinks.com/podcast50 (the $50 off coupon code will be automatically applied using this link)
Connect with event team via their social handles: @Marketplace Seller Courses, @eComEngine, @Payability