Fat Marketing Budget
The Business of Food
by Jennifer Barney
Fat Marketing Budget
2-min read
You plan to sell into new supplier channels in 2021. You had a great sales and marketing plan last year that shifted to this year. But. Still. Covid.
As a supplier to the food industry, waiting for things to get back to normal is futile. If you were looking forward to getting back on the trade show floor and schmoozing with guys in Dockers and gals in sensible shoes, the pandemic has messed up your plans. It’s also brought the future forward, and that includes disruption in traditional ways of selling.
Change is good
You’ll still be attending shows, but for most of this year they will be virtual, and that means your marketing budget just got fatter (no flights, hotel, rentals…). What you do with the surplus should match your company goals. If your goal is innovation, invest in that.
Resist the tendency to pocket the marketing surplus
If you’re the kind of organization where each department owns their P&L – and you’re the owner – get in front of this. Here are some ideas:
Invest in R&D – you’ve been talking about a test kitchen or pilot plant. Do it.
Invest in developing your people – you know the ones that have potential but just need training
Invest in directories, memberships, PR and earned media (for God’s sake if you have news, don't wait)
For ingredient suppliers and private label manufacturing shows and directories– see below for a list.
Virtual selling is different
On the down side, you’ll sacrifice the fun of treating your preferred clients to a booze-induced dinner at Nobu; and you’ll have to do much more pre-show outreach to get people into your virtual booth. But your reward will be seeing more people in less time than an in-person show.
PLMA Live! virtual, Feb
ECRM – virtual, Feb/Mar
Expo West sign up for Supplier Night – Hyatt Hotel Anaheim, May
IFT – virtual, July
Supply Side West – Las Vegas, October
Here are just some co-packer and supplier directories, memberships and advertising: Fieldcraft, RangeMe, NOSH, Partnerslate, Food Industry News, Store Brands, Supply Side Network 365
Happy selling!
All my best,
Jennifer
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I'd love to hear from you - get in touch at jennifer@3rdandbroadway.com