Craft breweries have witnessed a remarkable surge in popularity over the past decade, with consumers increasingly seeking unique and flavourful beer experiences. In this competitive industry, it takes more than a great beer to make a mark.
Successful breweries must employ a comprehensive approach that encompasses right to market (RTM) development, brand building and agility, awareness strategies, brand extension, opportunity management, market expansion, marketing, entrepreneurial thinking, e-commerce, and alternative funding sources.
In this blog, we explore how these key elements can help transform a ‘hero’ single quality unit (SQU) in your craft brewery into a national success story.
1: RTM Development:
To ensure a successful market entry, it is essential to focus on RTM development. This involves understanding the target market, identifying distribution channels, and establishing relationships with key stakeholders such as distributors, retailers, and restaurants. Building a strong distribution network will allow your ‘hero’ SQU to reach a wider audience and generate brand recognition.
2. Brand Building and Awareness Strategy:
Crafting a compelling brand story and developing a distinct brand identity are vital to differentiate your brewery from competitors. Invest in professional branding, including a well-designed logo, packaging, and website. Implement a comprehensive marketing strategy that leverages social media, influencer partnerships, events, and PR to create awareness and build a loyal customer base.
3. Brand Extension:
Once your ‘hero’ SQU gains traction, consider brand extension opportunities. Develop complementary beer styles, limited editions, or collaborations with other breweries or brands. This approach allows you to cater to diverse consumer preferences while leveraging the existing brand equity.
4. Managing Opportunities and Picking the Right Winner:
As your brewery grows, you will encounter numerous opportunities for expansion, collaboration, or product diversification. It is crucial to evaluate these opportunities carefully, considering factors such as market demand, production capacity, profitability, and alignment with your brand values. Choose opportunities that align with your strategic goals and have the potential to become ‘winners’ in the market.
5. New Markets and Marketing:
Expand your presence beyond your local market by identifying new markets with untapped potential. Conduct market research to understand consumer preferences, local regulations, and competition. Tailor your marketing efforts to resonate with the target audience in each market, considering cultural nuances, language, and consumer behavior.
6. Entrepreneurial Thinking:
Adopt an entrepreneurial mindset to stay agile and innovative. Encourage your team to think outside the box, explore new ideas, and take calculated risks. Embrace experimentation, and continuously iterate and improve your products and processes to meet evolving consumer demands.
7. E-commerce:
In today’s digital era, e-commerce presents significant growth opportunities for craft breweries. Establish an online presence through a user-friendly website or e-commerce platform, enabling customers to purchase your products conveniently. Implement effective shipping and delivery solutions to reach customers nationwide, creating a seamless buying experience.
8. Brand Agility:
Maintain flexibility and adaptability in response to changing market trends and consumer preferences. Regularly review your brand positioning, packaging, and product portfolio to ensure they remain relevant and appealing to your target audience. Stay tuned to industry developments and be quick to adjust your strategies accordingly.
9. Alternative Funding Sources:
As your brewery expands, you may require additional funding to support growth initiatives. Explore alternative funding sources such as crowdfunding, angel investors, or strategic partnerships. Be prepared with a well-structured business plan and financial projections to attract potential investors or secure loans.
If you are a brewery looking for advice get in touch with us on the below and our brewery expert Richard Smith will be in touch
