It's important to know who your target market is and how you'll meet them with a bakery marketing strategy before you open your doors. This helps you to choose a suitable place for your company and learn how much potential customers are willing to pay for your sweet treats. In addition, market research and a bakery market study should be included in your business plan to demonstrate to prospective investors that your company has the potential to succeed.
Here are a few traditional marketing tactics to help you meet your bakery's sales targets before and after it opens.
Performing Market Analysis
You should collect both primary and secondary data when performing market research for your bakery. Primary data were gathered by speaking with prospective buyers and researching the market. If you don't know where to begin, you can hire a company to conduct primary research for you.
Offering your goods in a smaller capacity, such as at a farmer's market stand or booth, is one way to collect primary data. Customers will be able to check out your products and provide reviews before you open your physical store.
Secondary research entails gathering information from external sources such as government censuses, trade unions, and other local organisations. This data contains demographic details, which is critical for determining your target market.
Identifying and Defining Your Target Market
The target market for your bakery is the group of people or companies to whom you want to sell your products. You will eventually figure out what your niche is by identifying your target market. This can be one of the most important factors in achieving success in any business venture.
It's important to be as precise as possible when identifying the business. Begin with the big picture, such as deciding who you want to do business with the most. Most bakeries sell to customers in their stores, but some only sell to businesses such as diners, restaurants, and cafes. You should also think about the geographic region you want to represent and the type of customer you want to attract within that area at this time.
Creating a Market Analysis for Bakeries
It's time to write a market report after you've finished your market research and identified your target market. A market research of your bakery's business plan proves to your investors that there is a need for your goods in your chosen location.
It's important to gather as much demographic information about your potential customers as possible while writing your business analysis:
- What is the average household income in the area?
- What is the average cost of eating out for locals?
- How much will other bakeries charge for the items you'll be selling?
After you've opened your bakery, you'll need to market it.
Now that you've found the ideal place for your bakery, as well as delicious goods, it's time to let everyone know you're open for business. When your bakery is up and running, consider incorporating the following measures into your marketing strategy.
Determine the marketing objectives.
It's important to set your marketing targets as soon as your bakery opens for business. These marketing objectives are intended to assist you in meeting the revenue targets you set in your bakery's business plan. Setting these marketing objectives provides you with a benchmark to which you can compare your potential success. This allows you to determine if your current tactics are effective or whether you need to try something new.
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When deciding on your marketing objectives, keep the following questions in mind:
- How many hours a month do you want to spend promoting your company?
- Which social media platforms would help you reach your target market the most effectively?
- By the end of the year, how many fans do you hope to have on your social media channels?
- How many sales transactions do you think you'll have in a month? How much money will those transactions generate on average?
- By the end of the year, what percentage of the bakery market in your region do you intend to have? How about in two years? How about five years?
Promote to Your Ideal Clientele
Defining your ideal customer is a crucial step in the marketing process because that's the person you'll be focusing your marketing efforts on. Make an effort to be as descriptive as possible, taking into account factors such as age, gender, income level, and occupation.
If you choose to open a bakery in a college town, for example, you can choose if your ideal customers are students, teachers, or locals. You can change your price points, services, venue, and overall atmosphere depending on your ideal customer base.
Define what makes the product stand out.
It's time to market your bakery's unique aspects to potential customers once you've decided your bakery business type. Focus on advertising appeal and taste to grocery stores and restaurants if you're starting a wholesale bakery. If you're just selling wedding cakes, target newly engaged couples and wedding planners. If your products are aimed at the general public, emphasise features such as organic ingredients, superior consistency, innovative flavours, or unbeatable taste.
Select Marketing Materials for Print
You'll want to use marketing tools that will better hit your target market, such as posters, business cards, and newspaper advertising. Keep the products you want in circulation long enough to evaluate their effectiveness. Don't be afraid to ask consumers how they learned about your company and use that knowledge to gauge the effectiveness of your print marketing campaign. Here are a few examples of common print marketing materials to think about.
- Brochures and flyers are simple to make and inexpensive to print. Offer community members an overview of your company by outlining your menu and mission statement.
- Postcards: If you have access to local mailing addresses, consider sending postcards to potential customers. This is a smart way to let people know when you're having a grand opening.
- Business cards: Since business cards are small and compact, you can have a supply on hand at all times.
- Newspaper ads: These can be helpful for reaching out to an older audience who might not be able to see your flyers or brochures because they aren't able to get around town.
Select Online Marketing Techniques
Choosing online marketing over traditional marketing will help you reach a larger audience in less time. Online marketing, depending on the approach, may also be a cost-effective alternative since no printing is needed. Consider the following online marketing tactics.
Participate in social media
It's critical to set up social media accounts for your business. Customers can learn about your bakery's personality via social media, which helps them create a bond with your bakery. Before you are able to create your own domain, you can use social media as your primary website.
allows for more customer interaction online than a conventional website. We've all heard that we eat with our eyes first, and we're well aware of the importance of presentation when it comes to our cakes and pastries. When people start sharing and talking about a well-composed picture of your bakery products on social media, it can do wonders for your business.”
Prospective customers can also follow the day-to-day activities of your bakery on social media. Customers expect to see you mix doughs, finish cupcakes, and fill the box. The feeling of having a window into the baking process is what has made the open kitchen idea so common among bakeries, and social media enables consumers to have the experience from afar.
Consider creating a bakery page on Facebook, Twitter, and Instagram. Because and channel has something unique to give, it's important to include more than one social media site in your marketing plan. Take advantage of the free space provided by social media to promote your company.
Use SEO to your advantage.
The use of techniques to make websites appear higher in organic search engine results is known as search engine optimization, or SEO. If anyone searches for "cupcake bakeries in (your city)," for example, you want your cupcake bakery to appear first on the list. Basic SEO tactics can have a significant effect on website traffic, which can contribute to increased foot traffic in your physical store. When customers search for baked goods in your city, using simple SEO techniques on your website can help you appear on important page listings like Yelp and Google Maps.
Develop a Loyalty Plan
Once you've attracted some foot traffic, it's time to concentrate your attention on enticing returning customers to your bakery. Since attracting new customers is more costly than retaining existing customers, it's important to keep the current customers happy.
Consider putting in place a reward programme to express your gratitude for returning customers. To keep track of visits, have a loyalty card or incorporate a system that uses the customer's phone number. You may encourage customers to return by giving them a free item or a discount after a certain number of visits.
Customers can also be asked to complete an online survey after visiting your bakery, with a prize in mind. This allows visitors to anonymously share their thoughts, which can provide valuable feedback to your bakery. Repeated complaints or suggestions should be listened to, and consumers should feel heard.
Place an emphasis on community outreach.
It's important for a new company to get out into the community both before and after it opens. This allows local residents to begin to see your bakery as a permanent presence in the neighbourhood. There are a variety of ways to participate in the culture. Start selling your wares at farmer's markets, raise funds for local causes, or contribute items to fundraisers and events. What you don't make up for in terms of sales or donations can easily be made up for in terms of the brand experiences you're making by community members.
It's important to concentrate on marketing to your ideal target market as you prepare to open your bakery. Conduct a business study for potential investors and start using effective marketing strategies to meet the target audience. An effective marketing strategy will help you meet your revenue targets while also establishing a reputation for your company that will keep customers coming back for years.
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