I often get asked’ how do I cost-effectively launch my brand?’ No one thing is going to provide the magic bullet but there are a number of approaches which are proven in their success which deliver a big bang for limited bucks.
a) Send beautifully packaged products with a promo piece (and the items needed to eat/drink it) to key journalists. So if you make muffins for example, send a pretty plate with the design chosen to complement your samples, a cake knife and a variety of tea bags. Most journalists find this irresistible and will very likely write a feature about you.
b) Get your friends and family to promote you via their social media network. This is a zero cost way of extending your reach and increasing your awareness via their connections and can lead to an explosion of interest in your brand.
c) Do samplings whenever and wherever you can. OK, you’ll have the cost of your products but this is a great way to engage consumers early on. If you are on sale, also give them an info piece about where you are on sale or your website details. Include a discount code off their next purchase. (N.B. A licence is required to undertake sampling in public places so make sure you check them out with the local authority or property managers before you go ahead.)
d) Try to get your products into the hands of celebrities or sports personalities for a photo opportunity. Not easy but it can be done. In general sports personalities are an easier target – and they don’t have to be mega – just relevant and high profile in your launch area.
e) Location, location, location. If you can secure a region of London, your brand will fly. The intense population density of greater London means that brands can be hugely successful by just focusing on a specific area. The important thing early on is to avoid scattergun activity and listings. You want would be consumers to see your product regularly so they can buy it often. So focus on getting outlets within a mile or so of each other and build from there, extending your reach as you gain distribution. The other major urban conurbations are a good place to start too.
f) Conversely DON’T be tempted to spend on paid online advertising and social media. Online acquisition costs for food and drink brands is running at circa £30 so only consider if your products fit a regular subscription model but do carefully consider how many sales you need to make to recoup the acquisition cost before it converts to revenue generation.
g) Because online acquisition costs are now running so high, I find that more and more I’m guiding my clients to a focus on a major retailer launch. There are numerous reasons why this makes sense (take a look here.) but the main reason being you only give away money (margin to the stockist) when you make a sale, NOT in trying to attract a sale.