The creation of new drink products can be tricky. According to research only one in five new drink creations survives for longer than one year, and launching new drink products can be a costly thing if you don't know what you are doing or have never launched a new drink before.
In most cases, it can be the initial costs of developing a new drink and bringing it to market that makes or breaks an entrepreneur. Brand new drink product launches can cost as much as six times more than a line extension launch for an already established drinks company.
Unfortunately, as many as 95% of new drink products will fail in the first year incurring heavy financial losses for those with a limited budget.
Canned drink development costs
Being able to successfully devise and create a new canned drink to bring to market will depend on your capability to keep your costs down, how you will trial it, and having a solid marketing strategy in place for when you launch.
Simply launching your new canned drink will not guarantee its success. Even if you are a marketing genius and engineer a great launch for your drink, your efforts will not overcome a flawed drink product.
Until you have thoroughly questioned and tested every element of your new drink idea, you will not know if you have produced a drink that meets the needs of your target audience.
You will need to give your drink a sense of value and worth in the eyes of your intended audience, but without first testing every element of your drink product you cannot know if it will be something worth investing your time and money in.
The services we offer at David Berryman Ltd are here for you. It is worth approaching us with your new drink idea before you invest any of your hard-earned cash into its development.
Questions to ask yourself about your canned drink idea
Before you move your canned drink idea off the paper and into development, ask yourself the following questions to better develop your approach to your launch:
· Why will my drink be important to my customers?
· Does my drink fill a gap in the market?
· Will my drink make me more competitive than my rival?
· Does my drink fill a specific customer need?
· How is my drink idea better or different from similar drinks on the market?
You will also need to look beyond your launch to work out how you will measure the success of your canned drink. Obviously, you will aim to sell as many canned drinks as possible, but you will need to be open to further refinements of your drink, branding or the way you market it.
Whether you are a solo entrepreneur going it alone, or you are part of a small team hoping to launch your own new drink range, and you believe you have a fantastic idea for a new canned drink that isn't already on the market, you will need to know whether or not it will be commercially viable.
Here is where you need to assess the feasibility of your new drink product and evaluate its viability. It would help you greatly to talk to our very experienced team at David Berryman Ltd about your new drink concept while you are still devising it on paper.
There may be many key considerations that you are unaware of regarding the development of a new canned drink that our team understand. We can work with you as part of your feasibility study to make sure you are set on the right path for your drink development.
Formulation of your canned drink
Working with our highly specialised and experienced team will enable you to test out blending and compounding ideas to formulate that unique flavour that you have in mind. Even if you don't have a recipe nailed down as yet, working with our team can be helpful because we doubt there is a flavour combination in existence that we haven't blended!
We have a whole range of different compounds that can be mixed to deliver you with a unique concentrated blend of flavours and colours to suit your needs. No matter what ideas you have about flavour and colour combinations, our team can be right by your side throughout the whole recipe creation so you end up with the perfect finished canned drink product.
There is so much to take into consideration when perfecting your recipe, such as the drink ingredients, compounds, sustainability, canning considerations, labelling and packaging. You can draw on our many years of experience to help you through every step of the process.
Canning your new drink
The great thing about working with David Berryman Ltd is that we can be there for your right from your canned drink inception to the physical end product that you can hold in your hand and drink.
Because we offer a micro-canning service for small volumes you will be able to take your new canned drink idea and produce a small run of cans for your market research testing. This means you don't need to lay out a huge amount of money to have huge runs of thousands of cans from a large drinks processing company.
Testing your drink in small batches will allow you to tweak your recipe or adjust your labelling to get it just right for the market before you are ready to officially launch.
Get in touch with our friendly team at David Berryman Ltd today to discuss your new drink idea. You will be so glad you did!