How Do I Market a New Drink Idea?
If you believe a pomegranate root beer drink will take the beverage world by storm, you need to consider market this beverage concept. The beverage industry is fiercely competitive, though: walk into any grocery store, and you are inundated with different drinks all vying for your dollar. To make yours stand out amongst drink giants like Coke and Pepsi, effective marketing is essential.
Cater to Your Audience
Determine which demographic will most enjoy your drink and package according to their taste and preferences. For example, an all-natural, organic soda might work best among the health-conscious, 20-something demographic. However, an energy drink with a bluish hue is best for high school students. Both audiences mandate a different sales pitch and packaging.
If you are marketing towards the health-conscious group, your packaging should use soft colors, like greens and whites, with small, clean font. Pay attention to packaging, and ideally, use BPA-free plastic bottles or glass. This will cost more, but will resonate well with this group.
Test and Sample Flavors
Do not assume that just because your immediate family loves a kombucha-cola combination, the rest of the world will, too. Gather a wide variety of opinions by conducting surveys and offering samples. Most grocery stores are receptive to sales demonstrations within the store. Therefore, arrange an in-store product sampling with the sales and marketing team of the store. Then, test different flavors of your drink line: even if you want to settle on one flavor, diversifying will increase the likelihood of success.
Arbitron, a marketing research company, found that sampling greatly increases the likelihood of name brand recognition in addition to increased sales. More than one-third of customers who sampled a product bought it the same day.
Gain Name Recognition
Name recognition is done through branding and promotion. Devise a quick, catchy name for your drink, and make fliers promoting it. Use social media sites, like Facebook, to make a fan page for your product and get your friends to become fans. Take out advertising space in local papers, and ask family members to display the drinks at their office desk.
Author of the book Market-Led Strategic Change Nigel Piercy, explains that Coca Cola may not be the tastiest beverage, but its success is primarily due to brand recognition. Similarly, the tastiest beverages on the market will remain unknown without brand recognition.
Pitch the Idea to a Beverage Company
Most large beverage companies like to acquire already established, albeit small, drink companies. Thus, your drink should be on the market in local shelves for the best consideration, but other companies, like Starbucks, are receptive to purchasing drink recipes. Decide which route is best for your business based on finances and your business model.
If you wish to pitch your idea, make an "elevator speech" that should last no more than a minute. In this speech, inventor Steven Key recommends, identify what problems exist in the current market, the needs that will be met by your product, explain why your beverage is superior to any competitors, and specify the marketing potential.
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