Favorite parts of working in the Food and Beverage industry as a President
Hank, Nature's Wild Berry's President, enjoys the unique challenge of building a direct-to-consumer brand in the food and beverage industry, a departure from the traditional retail model. This approach allows them to cultivate strong customer relationships and build substantial demand before entering the competitive grocery retail market, aiming for "sales lift across categories" once they do.
E-commerce, Direct-to-consumer business, Brand building, Sales and marketing, Leadership
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Hank Watt
President
Nature's Wild Berry
Arizona State University (ASU) - W. P. Carey
NA
Business & Related, Finance
Consumer Packaged Goods (CPG), Food, Beverages & Alcohol
Strategic Management and Executive
Pell Grant Recipient, Took Out Loans, Worked 20+ Hours in School
Video Highlights
1. Direct-to-consumer e-commerce: Hank's company focuses on selling directly to consumers online, which is a unique approach in the food and beverage industry and offers valuable experience in digital marketing and e-commerce.
2. Building a brand through customer interaction: Hank emphasizes the crucial role of customers in building a successful brand, highlighting the importance of customer feedback and satisfaction. This offers insight into brand management and marketing strategies.
3. Strategic market entry into retail: Hank's plan to establish strong brand awareness and demand before entering traditional retail channels demonstrates a strategic approach to market expansion and competitive advantage. This highlights the importance of market research and planning in business.
Transcript
What do you enjoy most about being in your industry?
I am at the intersection of food and beverage, specifically consumer packaged goods (CPG). Most businesses in my industry sell through physical stores like grocery stores, natural product stores, convenience stores, and drug stores.
Our approach was to go directly to consumers through e-commerce. Primarily, 90% to 95% or more of our business is online. I don't often get to work with food businesses in the direct-to-consumer space.
I chose this path because I know this product has never been sold in grocery stores, and people aren't looking for it there yet. Many people have expressed interest in buying it, and a berry is about as natural as it gets. This is my passion.
I spent 10 years in retail sales and value face-to-face interaction, introducing products in person and seeing that "aha!" moment when a customer's mind is blown. However, any brand owner who claims they can build a brand hasn't fully considered that consumers are the only ones who can truly build a brand. If brand owners could build brands, no brand would ever go out of business.
Our product has a shelf life and is lightweight, making it ideal for overnight shipping and next-day delivery. It's not perishable and can be stored in fulfillment centers. This is where we operate.
We are just getting started in the direct-to-consumer e-commerce space with the growth teams of Mark and Lori. I am learning so much every day, strengthening our offering, and improving how we introduce and deliver our product.
When we eventually enter retail and join my founder friends who have been in grocery for years, our customers will know exactly where to find us. We won't have to worry about being removed from shelves due to low sales. I want to build such strong demand that retailers like Whole Foods, Ralph's, or others see that our product has not only its own velocity because we attract a premium customer.
I want people to buy our product out of curiosity and a desire for fun, and then add other items because they want to try the berry. This will increase velocity across categories, leading to fuller shopping baskets. Raising awareness is my first priority.
Once awareness is high, we will have the demand for grocery stores. Buyers will want our product because there is so much demand for it. Once we get into stores, we will drive sales lift across categories. That is the plan.
Advizer Personal Links
Linktr.ee/natureswildberry
