The word competitive is synonymous with the drink industry, which is a given seeing as it is one of the world’s largest industries in terms of revenue, job creation and economic influence. The key to survival and success in this dog eat dog world is simply staying innovative, easier said than done however. It is imperative to understand that continuously pushing the boundaries of creativity is essential to stand out in the market. Innovation is not a process but a lifecycle, it never ceases to be done. This life cycle includes 3 core stages which we will delve into.
Step 1: Embracing Trends and Consumer Insights
The first step to staying innovative is to keep a close eye on evolving trends and consumer preferences. Understanding what excites and intrigues your target audience plays a significant role in determining their needs and desires when looking for a product, therefore, helping you create drinks that resonate with their tastes.
Consumer insights are created by conducting in-depth market research, engaging your audience with surveys, and actively listening to feedback from customers, to name a few.
Additionally, studying emerging trends and advancements in the industry, from new ingredients and brewing techniques to sustainable practices allows you to keep offerings fresh and relevant, ultimately ensuring they align with the evolving demands of the evolving consumer.
Step 2: Nurturing a Culture of Creativity and Collaboration
Creativity in terms of the drinks industry is about creating immersive experiences for the consumer that ultimately create meaningful connections between your brand and them. Creativity must be involved in every aspect of the product, from the contents of the container (can , bottle, tetrapak, etc.), the container itself and how the product is presented in the marketplace.
It’s important to note that being creative isn’t something you can switch on but rather something you nurture. Similar to growing a plant, the environmental conditions are essential. Regular brainstorming sessions and collaboration sessions allow you to tap into diverse perspectives and skill sets. This collaborative spirit encourages exploration of new features such as combinations of flavors and production methods.
Step 3: Constant Iteration and Quality Assurance
The commitment to constant iteration and rigorous quality assurance is the final core stage in the innovation lifecycle. At InnoBev, we believe that innovation is an ongoing process, and we embrace a mindset of continuous improvement.
At InnoBev, we strive for perfection, which is why we conduct multiple rounds of testing and refinement. Feedback from internal taste tests, focus groups, and even select customers helps us fine-tune our recipes. We are dedicated to delivering consistently high-quality products, and our rigorous quality control measures are what allow us to constantly raise the bar with both our own brands and our clients’ brands.
While your product might quench the thirst of your customers, innovation is what quenches the thirst of the overall market. The innovation lifecycle is imperative in creating on-trend and in-demand products that will have consumers coming back for more. If you’re looking to create a product that caters to both the market and consumers taste buds, you’re in the right place. At InnoBev, we are an Irish drinks innovation and development agency with craft spirit bottling facilities. We can help you go from “concept to shelf” within 3-6 months!