A food broker can serve as a reliable, value-enhancing partner in a vendor’s overall business. Partnering with a strong broker can get clients into the door with large regional and national retailers, assist with negotiating deals and much more. Finding a competent food broker, however, is not always a simple task. Before selecting a food broker, vendors should consider existing internal capabilities, determine the type of help they require and establish a budget.
Vendors should answer these three questions to determine potential benefits of partnering with a food broker:
1) “How Do I Match Up Against My Competition?”
How is a vendor performing compared to its competitors? How do consumers view the vendor’s brands and those of its rivals? Which information or data would facilitate strategic decision-making and determine the effectiveness of promotional campaigns?
If a vendor does not know or is uncomfortable with answers to these questions, it could benefit from the resources of a first-rate food broker or grocery broker. A knowledgeable broker can provide insights into a client’s competitive landscape and help level the playing field. Some companies even supply vendors with personalized solutions, allowing them to mine and analyze data and emerge more agile and productive than ever.
2) “What and How Are Retailers and Consumers Learning About My Brand?”
Marketing campaigns can make or break a business. If a vendor’s brand collateral is not yielding sufficient results, it may be time to seek outside help.
An experienced food broker can aid in creating and refining marketing material and messaging. Brokers can help fine-tune campaigns so they dovetail with retailers’ consumer marketing efforts. Stores will be far likelier to stock products that fit their specific programs and long-range goals.
3) “How Do I Keep Track of My Items in Stores?”
Having products in stores means nothing if these stores do not manage and handle inventory properly. At the same time, significant labor, money and time are required to track every single item sold in every single store serviced by an individual vendor. Established food brokers can handle much of this work for their clients. Top firms keep meticulous records of stock levels, product displays, pricing and more. Additionally, they are equipped to immediately and adequately respond to any and all issues which might arise.
While there are several food brokers on today’s market, all are certainly not created equal. Impact Group stands out as a trusted, experienced industry leader. Impact Group has been providing comprehensive food broker services to vendors across the country for over 20 years and truly cares about each valued relationship it maintains. With customized, highly effective CPG marketing solutions, a partnership with Impact Group can elevate vendors of all sizes to new and exciting levels of success.