How to Succeed with a "High Priced" Product
02/15/21 • 49 min
It’s common for good food business owners to calculate their perfect product price, only to find that it’s higher than they think they can (or should) sell it for.
Doubts often follow as to whether or not they can successfully sell their product at a premium price, and whether or not the right move is to lower costs.
In this episode Sarah and CPG Consultant Alli Ball discuss the steps you can take to build a successful food business selling a “high priced” product.
In This Episode of The Good Food CFO Podcast...
- Why looking to your target market is key to landing on the right price for your product
- 5 Key Brand Questions to gain clarity on pricing decisions
- The freeing truth that Everyone is not your target audience
- The customer touch points that are important to identify + ensure are “on brand”
- The worst business advice Alli has ever received, and what you can learn from it!
MEET ALLI BALL
Alli Ball is a former Grocery Buyer turned Wholesale Consultant, and the creator of Retail Ready®, an online course for producers of packaged product in the food industry. Alli has helped hundreds of emerging brands understand what it takes to get their products on the retail shelf- and keep them there- by sharing the behind-the-scenes secrets and thought process of Wholesale Buyers as they assess new products for their stores or online marketplace.
RESOURCES + LINKS
Listen in to her weekly podcast about wholesale strategy, Food Biz Wiz®
Instagram: @itsalliball
Hop on the Retail Ready Waitlist!
Download Alli’s 9 steps to building a brand that flies off the shelf.
Sarah Delevan Consulting Website
Sarah’s Instagram: @sarah.delevan.consulting
Connect with Sarah on LinkedIn
Download Sarah’s Profitability Roadmap
Join the Profitable Food Business Community hosted on Mighty Networks
It’s common for good food business owners to calculate their perfect product price, only to find that it’s higher than they think they can (or should) sell it for.
Doubts often follow as to whether or not they can successfully sell their product at a premium price, and whether or not the right move is to lower costs.
In this episode Sarah and CPG Consultant Alli Ball discuss the steps you can take to build a successful food business selling a “high priced” product.
In This Episode of The Good Food CFO Podcast...
- Why looking to your target market is key to landing on the right price for your product
- 5 Key Brand Questions to gain clarity on pricing decisions
- The freeing truth that Everyone is not your target audience
- The customer touch points that are important to identify + ensure are “on brand”
- The worst business advice Alli has ever received, and what you can learn from it!
MEET ALLI BALL
Alli Ball is a former Grocery Buyer turned Wholesale Consultant, and the creator of Retail Ready®, an online course for producers of packaged product in the food industry. Alli has helped hundreds of emerging brands understand what it takes to get their products on the retail shelf- and keep them there- by sharing the behind-the-scenes secrets and thought process of Wholesale Buyers as they assess new products for their stores or online marketplace.
RESOURCES + LINKS
Listen in to her weekly podcast about wholesale strategy, Food Biz Wiz®
Instagram: @itsalliball
Hop on the Retail Ready Waitlist!
Download Alli’s 9 steps to building a brand that flies off the shelf.
Sarah Delevan Consulting Website
Sarah’s Instagram: @sarah.delevan.consulting
Connect with Sarah on LinkedIn
Download Sarah’s Profitability Roadmap
Join the Profitable Food Business Community hosted on Mighty Networks
Previous Episode
How to Price Your Products for Business Profitability
Setting your prices to achieve Product Profitability does not guarantee that you can build a profitability business
In this episode, Sarah is diving into this critical financial concept and sharing 3 rules for pricing that will help you understand your business better and ensure that your products are priced right, so you can build a profitable business.
She also touches on:
- Financial Modeling, how it can help you price your products right, and save you time and money
- The Financial Success FormulaTM - your roadmap to building a profitable business
- How looking at your business holistically, and creating the right Cost Targets for your business, offers a new way of seeing and thinking about business. And helps you make informed decisions not only in regard to pricing, but really any financial decision.
LINKS + RESOURCES
Sarah Delevan Consulting Website
Reserve a Seat in the FREE Masterclass
Sarah’s Instagram: @sarah.delevan.consulting
Connect with Sarah on LinkedIn
Join the Profitable Food Business Community hosted on Mighty Networks
Next Episode
Industry Insight: The true Cost of Doing Business with Brokers, Distributors + Retail Chains
“...Before you get excited about what you are going to GET. Make sure you understand what you have to GIVE. Many a brand have paid slotting fees and free fills to get into a chain they could NOT afford to support only to get discontinued.”
This quote from Sandra Valasqueze instagram feed was the source of inspiration for this conversation, centered around the costs involved in growing your CPG brand through retail grocery expansion.
In this episode of The Good Food CFO Podcast...
- The role of brokers and distributors and the financial investment you can expect to make with each.
- What Free Fills and Slotting Fees are and how they’ll affect your budget.
- The benefits of a promo calendar to forecast your marketing budget.
- The average margin that a distributor will expect, and how to set the right expectations for your partnership
- The important difference between margins and markups and how to calculate each
- “Velocity over doors” - what it means, and why it matters.
... and so much more.
Sandra packs this episode with helpful information for CPG brands, and she joined me for a short bonus video on YouTube afterward!
MEET SANDRA
Sandra Valasqueze is an NYC-based Sales & Distribution Manager who has worked across several categories in the Natural & Specialty Channel, opened hundreds of accounts and onboarded several companies with national distribution without the help of brokers.
She now shares her expertise through her course, DISTRO 101 to help new and emerging brand owners understand the ins & outs of the grocery world.
LINKS + RESOURCES
Learn more about Sandra and her Distro 101 course at www.distrotalk.com Follow her on instagram where she give lots of blunt tips: @distrotalk Email Sandra at [email protected]
Learn more about Sarah Delevan, her services and programs at http://sarahdelevan.com
Follow her daily on instagram @sarah.delevan.consulting
Download Sarah’s Profitability Roadmap
Join the conversation with Sarah and other food + beverage business owners in the Profitable Food Business Community.
Watch the Bonus Video!
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