While we think we’re pretty good at identifying trends and opportunities for our food and beverage clients, we can’t foretell the future with certainty. What we can see, though, is a number of smart strategic steps marketers and leaders of mission-driven food and beverage brands can be doing now to position their businesses to thrive over the rest of this year.
We’ve identified seven strategies aligned around three key positions you can take to ensure success in 2020: stretch, invest, and pivot. You can’t expect to do the same things forever and generate the same business results; that’s doubly true now.
Understand Key Roadblocks to Success in 2020
Before we get to the seven strategies, let’s first put our fingers on the hurdles you’ll inevitably face in leading your organization now.
We’re not talking just about fear of shutdowns and other risks unique to the current pandemic — rather, cultural and personal fear that always lingers in the background. Brand leaders fear that they won’t meet expectations (of customers, stakeholders, employees) and so they don’t stretch beyond what they know. They fear not just failure, but success. Fear can trickle through an entire organization, leading to a culture of, “we don’t do it that way” or “prove the concept first, then we’ll implement it.”
Of course, the bottom line is essential; without profitability, you’re out of business. But if you’re focused on preserving market position and minimizing erosion instead of growing, you’re missing opportunity.
There are too many inputs, too many unknowns, too much conflicting guidance. It’s hard to even trust your gut. TMI makes decision making difficult: which of the conflicting scenarios or forecasts can you believe?
7 Strategies for Food & Beverage Brand Success in 2020
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