Once you have established your confectionery business, it’s time to see how you can grow it. Perhaps you need more room to meet the volume of orders or you are looking to capture a greater share of the market as compared to your competitors. Assuming that you have the production aspect covered, with ample equipment to produce high-quality confectionaries, shift your focus to creating a brand. However, if you want funds to further scale up the production facility, you can use a Bajaj Finserv Business Loan, offering unsecured funds up to Rs. 50 lakh in just 24 hours. You can also use the capital to build your brand.
Your brand identity is what you say about yourself, the value you create for the customer, and the total experience that you offer. Today, people are more willing to spend a premium amount for confectionaries made using the best ingredients and recipes, so you certainly have a market. By paying attention to the intangible aspects of your brand, you can enhance this experience and ensure that customers keep coming back to you.
Here are 5 tips to help you build your confectionary brand better:
1. Craft a story for your brand
Having a story that explains your product or company always creates interest for the customer. For instance, if you source your ingredients from farms directly or follow your grandmother’s age-old recipes, use these details to give customers a feel of why your products and brand are unique. It instantly elevates your product in the eyes of a customer, distinguishing it from a plain chocolate bar sold at a grocery store. For example, a lot of confectioners focus on selling only sugar-free, low-fat or high-fibre products to attract customers who prioritise health and fitness. Communicating this with a story explaining how and why is of essence to attract your target customer.
2. Pay attention to elements of design and presentation
When it comes to food, the way it looks creates the first impression. So, while you may have a certain box in which you deliver a birthday cake, for instance, pay the same attention to all your products. From the way you present cookies at your store or pack takeaway orders, going the extra mile is valuable to create a good first impression. If you are looking to create a brand identity that is fun and quirky or something that is earthy and rustic, ensure that your visual identity resonates this.
Right from the layout of your shop to the logo, menu cards, boxes for delivery, colours and fonts, make sure it all forms one cohesive theme. When customers see this repeatedly, it will help communicate what you stand for and also build brand recall. Avail the services of a professional to come up with a concept that is true to what your brand believes in.
3. Ensure that your brand story has aspirational value
Another route that you can adopt is crafting your brand story in a manner that customers are likely to aspire to. For instance, positioning yourself as a luxury brand will attract customers who are looking to make purchases that help establish their standing in society. Similarly, if you are focussing on using fair-trade, organic produce, highlight this. You will appeal to customers who aspire to choose brands that are healthy and environmentally conscious.
4. Choose the right channels to market your product
Customers form a perception of your brand by how and where you advertise. For example, luxury goods are often selectively distributed and advertised. If you advertise and sell at local grocery stores, it is unlikely that you’ll be able to create the image that you have in mind. However, if you participate in a food expo, gourmet supermarkets or specialty stores that sell imported confectionaries, you are more likely to be perceived as a high-end brand. Think about where your demand is coming from and advertise keeping this in mind.
5. Price yourself right
Whether you are aspiring to transform your confectionary business into a luxury brand or a mass brand, it is important for you to price your products right. In addition, you should be very selective about the offers, discounts and promotions that you run, and ensure that your choices don’t clash with your branding. If you’re unsure of how to price your products you can do market research yourself, comparing yourself with competitors, or consult a pricing strategist to come up with the best rate for your products. When your price, quality and branding match your consumers’ ability to pay, you are likely to make a tidy profit.
Take charge of your confectionery business keeping these areas in mind. Avail your pre-approved loan offer with 1-step verification and instant disbursal from Bajaj Finserv and put your branding activities in action.
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