By Marki Landerud, VP/Partner, Account & Business Development Director
January 31, 2018
You are a food ingredient company. Your products are well formulated and the process by which they are developed ensures a consistent formulation every time.
Along with a consistent product, you have a team of expert R&D professionals that can work with any prospect, and help develop a solution for their problem.
Great product portfolio, consistent product and expert consultation. The triple threat of food ingredient success. So, why aren’t you growing like crazy? And why are your customers leaving you to work with your competition, which offers a less reliable product?
The thing is, you aren’t the cheapest product available. Developing a consistent product and investing in a team of R&D experts are important to you and your company, but those investments impact the price of the end product.
Sound familiar? We have heard this story countless times over the years while working with food ingredient companies. The saying “you get what you pay for” really rings true here. In most cases the customer who left due to price, eventually returns because the new, cheaper product isn’t consistent and is negatively impacting their end product. In other cases, the service they are receiving isn’t on par with what they are accustom to. Sometimes, it’s even a combination of both.
The key is be consistent in your marketing efforts, always maintaining top-of-mind awareness so you are there when your customers need you most. A strategic approach to maintaining top-of-mind awareness can be another triple threat. It keeps current customers from being swayed by a cheaper option, it brings former customers back into the fold and it makes sure new customers are aware of the unique benefits you offer when their current suppliers miss the boat.
Have a marketing challenge you need solved? Leave a question in the comments below. You can also learn more about how S&B maintains top-of-mind awareness for food ingredient clients at stephanbrady.com/foodingredients.