New snack food products do launch and succeed every year. It just takes some savvy and effective pre-launch planning. Here are some tips you can use for a successful food product launch.
What Do I Need To Do Before I Launch a New Snack Line?
1. Think Outside the Aisle
It can be nearly impossible for new brands to get space on grocery store shelves. That is, unless you think outside the aisle. Buyers in other departments have different standards and procedures when it comes to product slotting, and they also have flat counter space to work with. There are numerous other ways to break into the grocery store like through the deli, the prepared foods section, hot and cold food bars, the bakery, the meat department, etc. Buyers in these departments are often looking for items to display seasonally, and they haven’t been bought by the big brands.
2. Develop A Rock-Solid Sales Pitch
You can’t launch a new snack food product successfully if no one is willing to buy it for their stores. That means putting together a killer sales pitch that motivates buyers to give your product a shot. Solid pitches go beyond the features of the product. It’s simply not enough to say that your snack food is low calorie or high in protein or tastes great. You’ve got to help them see the business benefit of choosing your product. If you can help buyers see how easy it will be to sell your product and increase their margins, you’ll make an impact.
You must also understand the economics of buying for food retailers, and many products are therefore not priced correctly. Typically, you should multiply your costs by 3 to estimate your suggested retail price. It is also critical to build in the cost of promotions so that during sales and offer periods, you and your retailers can collect a profit.
3. Have A Marketing Strategy
Marketing a new product is crucial. Luckily, thanks to social media, the playing field has been leveled. It does take a lot of know-how, hard work and savvy to create a marketing strategy that incorporates social media effectively and in a budget-conscious fashion. If your existing team isn’t savvy when it comes to online marketing and offline marketing including packaging and displays, it will be critical to partner with people who are experts.
Are you looking for a strategic partner to help you manage new snack lines?
If you have an idea for a new snack food and you want to partner with an expert in private labeling or providing the snacks you’d like to sell, talk to Mister Snacks. As a national leader in the private-label snacking business for over 30 years, Mister Snacks works closely with clients to help them develop the product line that will resonate with shoppers. Contact Mister Snacks today to learn more.