ou're determined more than ever to get your company's new food products into more stores in the new year. But how do you get more retail outlets to bite?
Research shows that major retailers' buyers get hundreds of letters and applications daily, so getting buyers to respond to you can feel like an impossible feat. The fact that more than 75% of newly launched products fail makes buyers even choosier.
Fortunately, the right broker can help you to get your food products onto store shelves. Here's how to successfully choose a food broker.
Let's jump in!
Food brokers are independent sales agents who can help independent food brands to get their products into major retailers' stores. They can also serve as "talent scouts" by helping food buyers to source innovative and new product lines to meet the market demand.
A great food broker will have a strong understanding of both your product and the market, and will be as passionate about your brand as you are.
Simply put, food brokers are responsible for bringing food sellers and food buyers together. Good food brokers excel at negotiating these two parties' connections and sales. Their goal is to establish an arrangement that mutually benefits both sides.
All in all, you can expand and diversify your buyer list as a food seller when you work with a reputable food broker.
To choose the best food broker, you should look for a broker who has strong industry contacts. They should be able to provide you with a robust list of people they'll use to promote your product and brand. These people may include food industry retailers and wholesalers.
Smaller food sellers might want to seek brokers with verifiable relationships with smaller markets in a target region. Meanwhile, food sellers that want to launch their brands nationwide should target brokers with relationships with big chain stores.
Choosing a food broker with extensive contacts is important because it will increase your product's exposure. Plus, you don't have to spend so much of your time trying to get in touch with retailers. Likewise, you won't have to manage your own contacts with various retailers and buyers.
Instead, you can concentrate on improving your production process's efficiency and quality. This will allow you to accommodate the rising sales demand generated by your food broker.
Another important quality to look for in a food broker is inquisitiveness.
For a broker to help you to achieve your growth targets, they must understand your brand aspirations. So, choose a broker who asks several questions about your expansion expectations when you interview them.
The more questions they ask, the more effectively they can help you to develop brand-new markets.
When choosing a food broker, look for one who has specialized experience in the types of products you are trying to sell.
For instance, a natural or organic food broker might have more impactful connections for you if you're selling vegan products. They can help you to get your goods into specialty markets and stores.
Also, let's say you plan to have a wide variety of buyers. A food broker can help with coordinating sales and managing warehouses for you. This is especially valuable if you sell increasingly popular products like grain-free, keto, and paleo diet foods.
Search for a food broker who can not only negotiate contracts for you but also provide relevant insights concerning national and local market trends. They should also be able to perform analytics to tell you how your products are faring in various markets and stores.
With this market information and feedback related to your product's success, you can adjust your product offering and brand as needed.
Look for a broker who is also willing to help you to market your product. They can do this by coordinating product demos during various stores' promotional sales.
Search for food brokers who also have track records of success in today's food industry. You want a broker who thoroughly understands the business and has extensive experience.
To pick a competent broker, take a close look at their customer service ratings online. The best brokers are those who have consistently gotten their clients stellar results.
Also, look for brokers who are praised by customers for being accessible. You need someone who can quickly respond to your emails and phone calls.
You also want a broker whom other customers describe as personable. They should be excited about building a long-term connection with you. You'll know from your initial communication with a broker whether your priorities and personalities mesh.
Finally, select a broker who demonstrates that they are proactive.
For instance, during the first telephone call, they may already share with you the strategies they would use to market your products. This may include using targeted campaigns to boost awareness of your product.
The more proactive a broker is, the more likely they are to bring you the results you want.
A food broker can help you to push your product line and brand, thus taking your bottom line up a notch. To choose a food broker, you should pay close attention to your prospective broker's client testimonials, expertise, and contacts.
Fortunately, at It's All Goods, we can guide you through each step of the food brokerage process. This includes representing your product line and advertising your products in stores. We maintain a track record of successfully working with food manufacturers and convenience store managers.
Get in touch with us to learn more about our services, and let's partner today!