Marketing Strategies for Your Bakery
Before you open your bakery, it’s important to understand who your target market is and how you’re going to reach them through a bakery marketing plan. This allows you to pick a viable location for your business and discover how much future customers are willing to spend on your sweet treats. In addition, it's important to include market research and a bakery market analysis in your business plan to provide evidence to future investors that your business has the potential for success. Below are a few common marketing strategies to help achieve your bakery's sales goals before and after opening day. Conducting Market Research When conducting market research for your bakery, you should focus on gathering primary and secondary data. Primary data is collected by talking directly to your potential customers and scoping out the competition. If you aren’t sure where to start, there are companies you can hire to do primary research.One way to gather primary data is to offer your products in a smaller capacity, such as at a farmer’s market stand or booth. This way, customers can try your offerings and provide feedback before you open your brick and mortar store.Secondary research is the collection of data from outside sources, including government censuses, trade associations, and other local organizations. This information includes demographic data, which is crucial for helping you determine your target market. Defining Your Target Market Your bakery’s target market refers to the specific customers or businesses you want to sell your goods to. By defining your target market, you can ultimately discover what your niche is going to be. This can be one of the major keys to success in any business endeavor.When defining your market, it’s important to be as specific as possible. Start broad, such as determining who you want to primarily do business with. Most bakeries will sell to customers in their shop, whereas some will only sell to other businesses, like diners, restaurants, and cafes. At this time, you should also consider what geographic area you want to serve and the type of customer within that area you’d want to target. Writing a Bakery Market Analysis Once you’ve completed your market research and defined your target market, it’s time to write a market analysis. Incorporating a market analysis into your bakery’s business plan justifies to your investors that there is a want and need for your products in your chosen location.When writing your market analysis, it’s important to get as much demographic information about your prospective customers as possible: What is the average income level in the area?How much do locals spend on dining out?What do other bakeries charge for the products you’ll be offering? Marketing Your Bakery After You Open Since you already have the perfect location for your bakery startup, along with delicious products, it’s time to let everyone know that you’re open for business. Consider implementing the following steps into your marketing plan once your bakery has officially opened. Set Your Marketing Goals As your bakery enters its first few days of business, it’s important to set your marketing goals. These marketing goals are designed to help you achieve the sales goals you had previously set in your bakery’s business plan. Setting these marketing goals gives you a standard to weigh your future results against. This helps you decide whether your strategies are working or if you need to try something else. When setting your marketing goals, it’s important to consider the following questions: How many hours per month do you plan to devote to marketing your business? What social media channels will help you best hit your target market?How many followers do you plan to have on your social media channels by the end of the year? How many sales transactions do you estimate per month? What will be the average revenue from those transactions? What percentage of the bakery market in your area do you plan to obtain by the end of the year? In two years? Five years? Market to Your Ideal Customer Base Defining your ideal customer is an important step in the marketing process, because that customer is who you’ll be targeting with all of your marketing efforts. Try to get specific as possible, with considerations including age, gender, income level, and profession. If you’re looking to open your bakery in a college town, for example, you can decide if your ideal customer would be college students, professors, or locals. Depending on your ideal customer base, you can alter your price points, offerings, location, and overall atmosphere. Define What Differentiates Your Product Once you’ve determined your bakery business type, it’s time to market your unique aspects to potential customers. If you’re opening a wholesale bakery, focus on advertising value and taste to grocery stores or restaurants. Alternatively, if you’re focused on producing wedding cakes, only market to newly engaged couples and wedding planners. Or, if your offerings are for the general public, focus on advertising specific qualities such as healthy ingredients, superior quality, unique flavors, or unbeatable taste. Choose Print Marketing Materials You’ll want to use marketing materials, including flyers, business cards, and newspaper ads, that will best reach your target market. Whatever materials you decide to use, keep them in circulation long enough to measure their performance. Don’t be afraid to ask customers how they heard about your business, and use this information to determine how successful your print marketing campaign is. Below are a few common print marketing materials to consider. Brochures and flyers: These are relatively easy and inexpensive to produce. Outline your menu and mission statement to give community members an overview of your business. Postcards: If you have access to local mailing addresses, consider sending postcards out to invite customers into your bakery. This is a good method for alerting community members about your grand opening. Business cards: Because they’re small and portable, you should try to keep business cards available to hand out at all times. Newspaper ads: These can be useful for targeting an older demographic that may not get around town to see your flyers or brochures. Choose Online Marketing Strategies Opting for online marketing can help you reach a wider audience in a shorter amount of time. Depending on your strategy, online marketing can also be a budget-friendly option with no printing required. Below are a few online marketing strategies to consider. Be Active on Social Media Creating social media pages for your business is a must. Social media gives customers the opportunity to get to know your business’s personality, which helps them form a connection with your bakery. Social media can even be used as your main website until you are able to establish your own domain. Dan Langan, owner of Baked by Dan, provides insight into how important social media is for bakeries: “As a product of the 'social media generation,' I was active on social media from day one of my business. It is essential to have a web presence, and social media allows more online customer engagement than a traditional website. We've all heard that we 'eat with our eyes first,' and we know how important presentation is with our cakes and pastries. A well composed photo of your bakery products can do wonders for your business once people begin sharing the photo and talking about it online.” Social media also allows prospective customers to be engaged with the day-to-day activities of your bakeshop. Customers want to see you mixing doughs, finishing cupcakes, and filling the case. This feeling of insight into the baking process is what has made the open kitchen concept so popular with bakeries, and social media allows customers to have that experience remotely. Consider starting a Facebook, Twitter, and Instagram for your bakery. Each platform offers something different, so it’s important to incorporate more than one social media site into your marketing strategy. Social media offers a free space to promote your business, so be sure to take advantage of it. Use Search Engine Optimization Search engine optimization, or SEO, is the use of strategies to make websites appear higher in organic search engine results. For example, if someone searches for “cupcake bakeries in (your city),” you want your cupcake bakery to show up first on the page. Implementing basic SEO strategies can have a big impact on the traffic to your website, which can lead to more traffic in your brick and mortar store. Optimizing your website using basic SEO techniques will also help you show up on important page listings like Yelp and Google Maps when customers are searching for baked goods in your area. Create a Loyalty Strategy Once you’ve gained some foot traffic, it’s time to focus your efforts on getting existing customers to come back to your bakery. Because it’s more expensive to bring in new customers than it is to create repeat customers, it’s important to keep your existing clientele happy.Consider implementing a loyalty program to show appreciation for repeat customers. Offer a loyalty card, or implement a system that uses the customer’s phone number, to keep track of visits. By giving customers a free item or discount after so many visits, you’re motivating patrons to come back time and time again. You can also ask customers to complete an online survey after they visit your bakery, and be sure to offer a reward. This gives guests a chance to offer their opinions anonymously, which can give your bakery helpful critiques. Listen to repeat complaints or suggestions and let customers know their voices are being heard. Focus on Community Outreach As a new business, it’s important for you to get out into the community before and after you open. This gives local community members a way to start to see your bakery as a fixture in the neighborhood. There are many ways to get involved with your community. Begin selling your goods at the farmer’s market, raise money for local charities, or donate goods to fundraisers and events. What you miss in profits or donations can easily be made up by the brand impressions you’re creating amongst community members. As you work towards opening your bakery, it’s important to focus on marketing to your ideal target market. Conduct a market analysis for future investors and begin to implement effective marketing tools to reach your desired demographic. A successful marketing campaign can help you achieve your sales goals while creating a reputation for your business that will draw customers in for years to come.