2 min read
25 May 2021

As per the Ministry of Commerce, India’s spice production amounts to a staggering 2.7 million tonnes, encompassing around 50 kinds of spices. As a nation, India exports 8–10% of this quantity, and our share of world trade amounts to 40–50% by volume. So, as a spice business owner, your scope to grow your company and maximise your profits is significant. To make the best use of India’s spice production and export framework, you need to publicise your business smartly. To do this, you will require funds at every step of the way.

Avail of a business loan or a working capital loan from Bajaj Finserv to fund these expenses and ensure that your business operations and finances are under no strain. Since you can avail funds online in just 48 hours without submitting collateral, this financing option is ideal.

Get started by taking a look at the measures you can take to market your spice business.

1. Partner with cooking classes and workshops

Partnering with cooking classes and food workshops is one of the best ways to reach out to your target audience directly when selling straight to your end consumer. Your spices and blends are a seamless fit here, and you can advertise through posters, offer attendants samples, a discount code when they complete the workshop, etc. You can also agree with the organizers to use your products. This way, participants will be able to try them and then buy them. You can also host your classes and workshops at clubs, supermarkets, etc.

2. Work on search engine optimisation (SEO)

Whenever a prospective buyer, be it a retail store or a customer, goes online to search for spice businesses, your name must show up right at the top of the search engine’s list of results. This gives you a winning chance to capture the person’s attention and convert them into a customer. To ensure this, you must work on optimising your website and content and make it SEO friendly. By hiring an SEO specialist, you will be able to improve your ranking.

3. Advertise through the right channels

There are numerous magazines dedicated to food, thus making them ideal places to advertise your products. Similarly, TV ads on cooking channels or when cooking shows are aired on general entertainment channels. If supermarkets offer customers/members a pamphlet or booklet on new products that they stock, ensure that you advertise on it. This way, you can reach your audience in a targeted manner. In addition, you can also advertise indirectly by undertaking digital marketing. Using blogs, social media posts, tips, hacks and emailers will help you establish your brand and build relevance in the lives of your audience.

To commit to a strong advertising and marketing plan, you need funds regularly. A Bajaj Finserv Business Loan helps you meet your financial needs regularly through the Flexi Loan facility. This allows you to withdraw money from a pool of funds in parts and pay interest only on what you use. Also, to make the repayment more manageable, you can choose to pay interest-only EMIs and repay the principal at the end of the tenor.

4. Participate in trade fairs and food expos

There are various trade fairs in the food industry to buy a stall and build awareness about your company. This will allow you to reach B2B customers and those who select suppliers for hotels and restaurants. So, make sure you represent your company at the ANUTEC- International FoodTec India or the UpperCrust Food & Wine show. If you want to start on a smaller scale, participate in farmer’s markets in your city.

Ensuring that you have a good product is half the battle won. The other half is knowing how to convince your target audience that you offer the best spices at a fair price. By using your pre-approved loan offer with its simple 1-step verification and faster disbursal, you can action these strategies and do so more convincingly.

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