Here are the top 6 current concerns of specialty coffee industry CEOs we advise:
1. Cash Flow
SOS Advice: “Add more sales channels to increase cash flow. For example, along with normal or higher margin items, consider higher volume, lower margin B2B channels such as private label working with distributor/retail partners. Rebrand these higher volume items if necessary to avoid sales channel conflicts, which are normal in a multichannel sales ecosystem. Insisting on ‘full boat’ margins on everything will sink your ship (unless you are Apple Computer – and even they are developing lower cost items)”. Don’t know anybody to partner with? Walk the trade shows. No time or your sales people too busy at the shows or in the field? Hire an industry expert business development expert to do it.
2. Create Growth
SOS Advice: “Stick with your core business and look for your hidden product and service assets that can be applied to new sales channels. These assets may include those that can be rebranded and reformulated. Do not use in-house marketing resources for this, work with an outside industry expert and branding/product specialist to move a project like this along so that it does not get pushed to the ‘back burner’ due to day-to-day pressures”.
3. Stay Competitive
SOS Advice: “Rather than relying only on your sales people and staffers for their opinions, get market research done from an industry expert on your competitors including SWOT analyses. The data will reveal what you will need to do next”. Continue reading
If you are in the coffee business and send out emails, I probably get your email marketing campaigns; I subscribe to literally hundreds of coffee-related emails. From roasters, cafes, equipment companies, and online retailers, to allied products including syrups and cup sleeves. It’s good business to keep up and see what’s going on in the industry. The problem, however, is all the emails are “self centered”, as if the creators of these emails are in a bubble. Continue reading
In today’s eCommerce landscape, shoppers expect quick, seamless transactions. However, the traditional model of B2B selling relies heavily on Sales Reps operating in the field.
While this approach is an important element in achieving success, it doesn’t have to apply to every sale. Most B2B organizations now rely on a healthy mix of products sold by their team in the field along with additional products available to customers for purchase online.
Streamlining your sales models can free up valuable business resources with friction-less e-commerce channels for selling products directly to your customers in the following ways:
When you pioneer an industry, how can you continue to stay disruptive for generations to come? Just ask Peet’s Coffee, the over 50-year-old coffee company fighting to stay relevant and appeal to craft coffee-chugging Millennials.
Over fifty years ago, Alfred Peet opened the very first Peet’s Coffee shop. The year was 1966, when coffee from a can was the norm. From his shop in Berkeley, Calif., the Dutch immigrant began hand-roasting coffee beans in small batches, creating bold and complex blends that were unlike anything in the American market.
That was the beginning of the specialty coffee movement.
Today, the question at Peet’s Coffee is how to keep ahead of that movement while staying true to its brand. As demand for specialty coffee has exploded, so has the competition.
Here are 5 key lessons from Peet’s entrepreneurs can use as they look to grow their business. Continue reading