6 Proven Strategies to Successfully Innovate and Expand Your F&B Brand

Bringing a new product to life is an exciting journey, but it can feel overwhelming at times. You might be wondering how to turn that brilliant spark of an idea into something tangible that customers will love. Don't worry – you're not alone in this venture.

Innovation isn't a solo act. It's a collaborative full team process, involving everyone from marketers to operations specialists, and even external partners.

We know you're passionate about your idea. The tricky part? Guiding your concept through market research, viability checks, and trial runs while keeping its unique spark intact. It's a balancing act between refining your concept and preserving the magic that will make it stand out.

As as entrepreneur, I understand this journey. I've seen great ideas flourish and learned valuable lessons along the way. That's why with the help of Ed Hinson, a JPG Talent strategy expert, and Marc Halperin of CCDI, we've compiled six proven strategies for successful innovation. Whether you're feeling stuck or just need a little inspiration, we're here to help you navigate the path from brilliant idea to market-ready reality.

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1. Stay on top of trends

Industry trends can keep you informed about what consumers desire from their eating and drinking experience. A great way to stay up to date on trends is by creating Google alerts using trend-specific keywords. You can tailor these alerts based on specific categories or keep them broad. Alerts can help reduce the time it takes to sort through hundreds of newsletters and industry websites.

For keyword ideas as well as latest trends browse industry resources for information on new product releases, technical innovations, scientific findings, and brand acquisitions.

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Some of the best free or low-cost industry resources include:

● Confectionerynews.com – the latest developments in the confectionery industry.

● Foodnavigator.com– market trends, regulatory changes, and the latest scientific research affecting food production and consumption.

● IFT.org –The Institute of Food Technologists provides in-depth articles on food science innovations, new research, and industry best practices.

● Foodbeverageinsider.com – focuses on the intersection of food and beverage with health and wellness.

● Foodprocessing.com – provides updates on the latest technologies and trends in food manufacturing and processing.

● WSJ.com – The Wall Street Journal offers breaking news on major F&B industry events, and analysis on consumer preference trends and market dynamics.

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Visiting trade shows and top Michelin Star restaurants are two other great ways to find early trend indicators. Ed Hinson, a strategy expert here at JPG suggests “Something we don't do enough of is being intentional about getting out in the market with the sole purpose of just trying to understand what's happening,” he says.

Our strategy team also uses social listening AI tools to uncover new trends that haven’t yet surfaced. Tools like AIPalette, Tastewise, and ChatGPT can be used as creative thinking partners to generate new ideas.

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2. Leveraging AI to understand your audience in new and existing spaces

Traditional market research studies generate great insights but can be expensive and time-consuming. Ed Hinson doesn’t dismiss the functionality and importance of large market research studies for the biggest CPG brands.

He does, however, see a paradigm with more and more innovation coming from smaller companies without the same resources. Lower cost solutions, like AI tools, can be a quicker and more affordable solution for small brands.

Our strategy team investigated how AI tools can test a larger digital audience without the time and cost of large sample market research. Digital Twin technology, for example, creates personas based on actual consumers, allowing you to screen larger numbers of ideas to a digital audience before testing the best concepts out on real consumers. Partnering with a marketing AI expert could help your business set up a digital audience to validate or invalidate your hypothesis before you begin full market research.  

3. Align your approach with brand and business objectives

When you have a great idea that aligns with your target audience, you must also evaluate whether it aligns with your brand values, propositions, and business objectives.

Consider if this is the right timing fora new product. Understanding what drives the need for this opportunity - be it financial goals, stakeholder expectations, potential press coverage, or the need to refresh old products - ensures your decisions are well-informed and aligned with your brand’s long-term vision.

It’s also important to ascertain if your brand needs to take a different direction entirely. Should you innovate within your current category or expand into a new one? Expansion can provide greater reach and appeal, but it also carries the risks associated with venturing into an unknown territory, like having to create a new supply chain or work with a new co-manufacturer. Signs indicating that it’s a good time to expand could include a steady increase in customer demand, market saturation, or new technological advancements.

Lastly, think about whether you're stretching outside your brand values. Maintaining your brand’s identity is vital. If an idea strays too far from core brand values, it might result in one-time buys rather than driving brand loyalty and repeat purchases.

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4. Don’t underestimate the power of taste

Consumer research, packaging, and positioning are undeniably important, but the customer’s experience of taste, texture, and a pleasurable eating experience will make or break a new product.

The “power of taste” concept is nevermore evident than in the world of confectionery, according to Marc Halperin, Chief Culinary Officer of CCD Innovation, JPG’s culinary innovation partner. It’s a balancing act for brands to include the right choice and levels of ingredients that meet consumers needs while maintaining delicious flavor.

“Getting to this ‘sweet spot’, pun intended, is the challenge,” he quips, “Buyers simply want delicious choices that contain ingredients they understand and are familiar with.”

Culinary-led innovation plays a significant role in this balancing act. Ed Hinson points out that while staple flavors like vanilla will always be your best-seller, they don’t create much buzz. The opportunity lies in introducing unique and diverse flavors that can capture the consumer’s attention and set your brand apart. For instance, integrating global or nostalgic flavors could spark more conversations and interest from customers about your product lineup of normal “industry standard” flavors.

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5. Make sure it’s technically feasible

While the creative process can produce exciting ideas, it’s vital to keep practical considerations like ingredient availability, packaging feasibility, and production costs top of mind. As Ed emphasizes, "If you can't make it at the end of the day - you can't get the ingredients or the packaging, or it costs $10 million for capital, then what might be a neat idea is destined for failure."

Implementing a stage gate process into your timeline allows organizations to vet ideas for viability at defined checkpoints throughout the development cycle. Ed advocates for this approach, stressing that new concepts must have a solid business case and align with the capabilities of vendors and manufacturing facilities.

Logistical challenges, such as choosing too unique of ingredients or sourcing from distant locations, underscore the importance of thorough planning. Ed explains how seemingly minor issues like seasonal availability or long shipping times can derail timelines if not properly managed.

He cautions against rushing innovation without considering these practicalities, as this often leads to unforeseen obstacles and delays. "It may feel like it's slowing you down in the middle of the process," he remarks, "but over time, it should actually get you there quicker because you're inevitably going to rush into something, hit a wall, and then face months of firefighting."

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6. Know when to execute

Understanding when to execute your product launch circles back to knowing your audience: where are they and what’s important to them? Timing your launch to coincide with impactful events could be the difference between success and failure.

“We're moving to a more pragmatic sort of research,” Ed Hinson suggests, adding, “For newer brands, getting it right at influential retailers is really important because it creates a track record of success that you can use as a flywheel for succeeding at other retailers.”

Consider whether your product needs to be ready for a specific retailer’s launch window, an expo, specific holiday, summer sales, back-to-school, or certain seasons. Specific events like these can determine a desired launch date and speed to commercialize. Calendar awareness helps your team assess whether the timeline is reasonable and will determine the right risk mitigation strategies to put into place.

Having a skilled sales strategist is vital in this phase. A good sales strategist will evaluate risks and propose when to transition your idea from the innovation stage to commercialization.

In the end, good innovation requires good strategy on many fronts, but with the right tools, support and knowledge, it leads to exciting growth and the potential for your brand to break out of the pack. At JPG innovation strategy and execution is the heart and soul of everything we do. How can we help you create the best innovation path for your brand?

Need a fresh perspective on your product ideas? Let's explore the possibilities together!

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