It suddenly seems like everybody wants a piece of the FMCG (fast-moving consumable goods) pie. From celebrity energy drinks to alcohol-free wines and everything in between, FMCG is hot property.
Starting an FMCG brand can be an exciting and rewarding endeavor. However, it requires careful planning, strategic decision-making, and diligent execution to succeed in a competitive market. In this article, we’ll walk you through the essential stages of starting an FMCG brand, from concept to launch.
Here we detail 8 Important Early Steps in How To Build A FMCG Brand
1. Market Research, Category Deepdive, Product Validation
Before diving into the world of FMCG, conduct thorough market research to understand consumer preferences, market trends, and competitive landscape. Identify gaps in the market and opportunities for innovation that align with your brand’s vision and values. It is crucial to have a clear understanding of your proposition (what your product will be), and the product validation (who needs this product, and why).
2. Build Your Brand
Work with an agency to build a clear and compelling brand that resonates with your audience. Define your brand’s mission, values, personality, and unique selling propositions (USPs). Develop a brand name, logo, and visual identity that reflects your brand’s essence and sets you apart from competitors. Deep dive on your category, you need to be the expert. What can you bring to your category that is unique and will give you real standout, and immediate interest online or with retail buyers?
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3. Establish Manufacturers
Have conversations with manufacturers as early on in the process as possible. Manufacturers will be able to give you first-hand advice on how they work, and what they expect from you (if you are seeking a co-packer / co-manufacturer).
4. Product Development & Testing
Product development can take a considerably longer amount of time than founders account for. Building your brand and working with an agency on branding and packaging design whilst working on your product development is always a good idea. With product development, it is crucial to have an ultra tight brief to go to your product developer with. As the old saying goes, rubbish in – rubbish out! Having a clearly defined and well-articulated product development brief will speed up your project and reduce costly mistakes.
4. Finalise Packaging Design
Once you are nearing completion on your product development you will have a better idea of your final packaging formats, ingredients etc and can begin finalising your packaging design.
5. Start Distribution Conversations Early
It is important to begin distribution conversations early on. Founders often get so caught up in the glamour of building a brand and the design process that they suddenly look up and realise they have brought a product to market and have no channels to sell it in. By creating your brand and packaging design early on, you will have something physical (even if just product renders), which you can start pitching to retail buyers and distribution partners.
6. Create A Marketing Strategy & Distribution / Retail Strategy
By creating a clearly defined marketing strategy you will have an understanding of the different partners you will need to work with, marketing spends, and which “channels” you are looking to activate. This should work hand in hand with your distribution / retail strategy. It simply isn’t enough to assume your product will sell in any given place, marketing and an “activation” needs to be put behind it to make it sell.
8. Product Launch
Execute a successful launch campaign to introduce your FMCG brand to the market and generate excitement among consumers. Monitor sales performance, consumer feedback, and market trends to iterate and refine your proposition and marketing strategies. Continuously innovate and adapt to evolving consumer preferences to drive brand growth and expansion.
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