What Your Business Can Learn from the Craft Brewing Industry
Yes, I’m writing this blog on a Thursday morning. It’s far, far too early to throw one back.
But, I’m not sure when you’re reading this. Perhaps where you are, it’s after hours on the weekend.
It feels like the craft brewing industry has really taken off in the last decade or so.
Like so many other industries, they’re facing unprecedented challenges during the pandemic. Seasonal change always affects an industry like this, but this year, even more so.
I came across this great article today with advice for the craft brewing industry.
Extrapolating from it, there’s plenty that can help your company, too. That’s true even if your industry is far from having anything to do with craft brewing.
Analysis, Analysis, Analysis
In the article, they say: “First, know your numbers – your cost of goods sold, your breakeven points, your sales goals for the rest of 2020 and well into 2021, your marketing budget, your product mix, and overhead costs.”
OK, you might not have to worry about a “product mix” or anything similar, but this is solid advice.
That’s particularly true when it comes to your online marketing.
Analyzing it carefully, just as you would any of the other facets of your business, is critical to your success.
After all, you wouldn’t just assume that you’re getting the best deal on your supplies. You would never just presume you’d brought in more money this month than the last. At all times, you would look closely at the relevant numbers and factors to make sure that everything was working out.
That’s the kind of approach you should take to your online marketing, too.
It’s why we use all manner of Google Analytics (and so much more) to ensure that our clients are getting everything out of their marketing they should.
Prepare for the Worst (But Hold Out Hope)
Later in the article about how craft brewing companies can prepare for the winter, it says: “know how to manipulate your sales data to make plans for restricted market conditions.”
The craft brewing industry may face more challenging market restrictions than others. If more locations are shut down due to the pandemic, for example, that could cause any number of problems.
But, even if you aren’t faced with that kind of concern, it may make sense for your company to go with what’s working best this holiday season.
As the article goes on to say: “focus on market segments, like convenience stores and grocery chains that are showing the most growth during hard times. Consolidate your item selection to your best sellers to save on production costs.”
Your company may not have “convenience stores and grocery chains” to use for revenue, but there is probably something about your company that brings in more money than something else. Or, alternatively, as we’re in the holiday season, there may be something your company offers that could do better during this time.
It may behoove you to focus on that right now.
The Benefits of Full-Service Digital Marketing
You didn’t think we were going to get through an entire article without talking about digital marketing, did you?
As the article concludes: “Finally, you’ve got to get your digital marketing plans in order. If we get into a situation again where in-person drinking and dining are prohibited, you need to have a digital contingency plan. Your website needs to be consistently updated with any changes in operating hours, and should include ways to buy your beer, an online store, delivery options (if applicable), email list sign up forms, social media links, and pictures of everything you sell.”
Start at the phrase “digital contingency plan,” then replace the word “beer” with “your goods or services.”
That’s what every business should do.
Our full service digital marketing and web design in LA company can help. For more: (888) 477-9540.
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