A new FMCG brand needs to cover a long haul, from its ideation to being placed in the market. The ideation starts with a market need that needs to be fulfilled. Then, a voluminous amount of research, preparation, pitching, analysis, and trial comes into existence.
Like any other business, an FMCG brand must commence with making a series of right decisions to increase its chances of success.
An English proverb says that necessity is the mother of all inventions. It goes accurately with the FMCG industry. It involves products like cosmetics, personal care, toiletries, bulk buys, etc. A new product is invented in the industry whenever a need is seen in the market. So, it implies that an FMCG brand needs an idea in the first stage. Here are a few tips for a new player who wishes to successfully take an FMCG brand to market.
- Identify consumer needs
The FMCG industry is vast and splendid across the world. The most suitable way to enter this industry is by identifying a need that is not fulfilled by any existing product. Nonetheless, there are situations when a new FMCG product succeeds in the market even though it belongs to some existing brand’s product category. Success in such circumstances is achieved with a USP or Unique Selling Proposition. It helps your brand stand out from the existing ones. For instance, both Clinic Plus and Head & Shoulders belong to the same product category, shampoo. The significant difference comes in their USP. While Clinic Plus solves the problem of weak hair, Head & Shoulders resolves the issues of dandruff. So, there you go!
- Branding & packaging
A brand or product stands out from its competitors in the way it is being packed and branded. It helps it prove its uniqueness. The packaging of a product communicates a lot about the brand. It conveys the brand’s message and the target audience it is trying to reach. Packaging makes your product visible.
Likewise, branding is more than just a logo. It involves all the important aspects of a product’s look and presentation. Branding involves your product’s message, its values, and ethics. Both packaging and branding help communicate your brand to your target audience.
- Digital Marketing
People spend a lot of their time on smartphones and other electronic devices. Companies are aware that the digital world is a great platform for advertising and digital marketing. To reach your target audience via an easy path digital marketing is the key. Apart from these, consumers nowadays prefer everything online. From researching, comparing, and finally buying a product, everything is online.
- Dependable team
To run or start with an FMCG brand or product, you will need to do a lot of teamwork and hard work. To achieve a commendable result, that too, for running a huge FMCG brand, you will need a concrete team beside you. Good teamwork plays a crucial role in establishing a successful brand. Even if you have achieved your goal, a dependable team will always be the primary requirement for your business.
- Honest feedback
The success of a brand depends on what the audience is talking about it. Thus, you should focus on sincerely listening to it. These are called feedback which is very vital for the brand’s growth and improvement. Sincere feedback is worth a thousand attempts of improvement. New consumers may buy your product based on its advertisements or packaging, but to make them remain stuck to you, take note of the feedback.
Ultimately, you need to understand that there goes an ample amount of research before setting to launch a new FMCG brand. To begin working in a new vertical, you need a new idea, research, teamwork, and a lot of hard work. So, that was all about successfully taking an FMCG brand to market.