In a dynamic and competitive food industry landscape, businesses with international aspirations are constantly seeking innovative strategies to expand product horizons and reach new markets. While iconic brands set the bar high with their successful practices, smaller businesses can still learn from the industry giants and adopt similar strategies. For example, how can companies translate the principle of expanding product opportunities into actionable steps tailored to their unique circumstances?
The traditional cycle of product innovation can be expensive and inefficient. As a professional translator offering services to businesses in the chemical and food industry (and a small business owner myself), I believe that finding ways to expand product opportunities can help reach more prospective customers and clients and increase sales.
Drawing inspiration from insights shared at a TRKR webinar on ‘Exploring Opportunities in Food and Drink Innovation’ (February 2024), in this blog post, I share actionable tips and strategies that businesses can take inspiration from when looking to extend their product opportunities and establish a global presence in a competitive marketplace.
So let’s delve into the world of product expansion and uncover how innovative approaches, market insights, and strategic translation can broaden your product horizons and unlock the potential of international markets.
Why extend your product opportunities?
First thing first, what does ‘expanding product opportunities’ mean? And why is this a great strategy to employ? In a nutshell, expanding product opportunities means identifying and leveraging new avenues, markets, or methods to enhance the reach, profitability, and impact of your existing products or services.
The process allows us to maximise the investments of time and money already made into the production, marketing, and sales of what we already offer. And with that, we can also leverage customer loyalty and brand recognition. In other words, the more our customers see us investing and promoting our existing products, the more we create a sense of trust and reliability among our audiences.
By continuously refining and enhancing our current offers based on market feedback and consumer preferences, we can adapt to changing consumer needs and preferences. And we can do this without undergoing significant (and expensive) product development cycles. Who here isn’t a fan of optimising resources, minimising risk, and achieving sustainable growth?
No one.
So let’s continue…
How to extend the product opportunities of your core products
- Be a Creme Egg, not a turkey
Nathan Ward at Kantar explained that, in retail, seasons are getting longer. What does this mean, exactly? Let’s use the example of a Christmas turkey and a Creme Egg.
In the UK, a roast turkey is ‘just for Christmas’. It’s a seasonal product, and as such, it’s subject to fluctuating demand based on specific times of the year (in this case, December). These types of products are available for short periods only – sales are generated by a sense of urgency and scarcity. Retailers will offer special promotions or discounts at peak times to attract customers and drive more sales. But at the same time, because of the seasonal nature of the product, they’ll have to be careful to avoid stockouts or holding excessive inventory after the season ends.
Cadbury’s Creme Eggs, on the other hand, could be associated with Easter. But in reality, they’re not. They’re in the shops in December and continue to go strong all year round. They’re a non-essential, impulse purchase – no one goes to the shops with a Creme Egg on their shopping list! So if something is readily available all year, how can we encourage sales?
The evolution of Cadbury’s Creme Egg campaigns
One of the most successful Cadbury Creme Egg slogans (dating back to the 1980s) is “How do you eat yours?” This slogan became iconic, sparking conversation and engagement around the various ways people enjoy eating their Creme Eggs. It showcased the versatility and fun associated with the product. And the campaign was so memorable that it became a huge success for Cadbury.
More recently, Cadbury built on the original campaign and flipped the slogan on its head. “How do you NOT eat yours?” was used to imply that you can’t resist eating a Creme Egg. In January 2023, to mitigate the notorious January blues, Cadbury introduced a fun competition featuring a special half-milk chocolate, half-white chocolate Creme Egg that offered a chance to win up to £10,000. Retailers also got the chance to win prizes if a winning egg was found in their stores. The competition aimed to engage consumers and retailers, sparking the annual “How Do You Eat Yours” debate.
And just like that, an evergreen product becomes sought-after and in demand.
Find multiple angles to sell the same product or service
In today’s rapidly evolving market landscape, food retailers are constantly challenged to find innovative ways to position their products and services to meet shifting consumer demands. You can extend your product opportunities by proactively identifying market trends, adapting offerings to meet your consumers’ needs, and exploring innovative angles to position your products or services. This is great for driving customer engagement and remaining competitive in an ever-changing market environment.
Here are a few examples to give you some ideas.
- Align existing products with the latest trends. How can you align your existing offerings with the latest trends that resonate with your consumers? For example, in response to the cost of living crisis and the widespread adoption of remote working, lunchtime consumption habits have significantly changed. Food retailers are now tapping into this trend by introducing innovative concepts such as the ‘adult lunch box’. It’s no surprise that convenient carry-out meal options that cater to the needs of busy professionals working from home or on the go are becoming increasingly popular.
- Appeal to a broader customer base. Recent trends include the rising demand for hot meal options and an emphasis on convenience and speedy service. How can you capitalise on these trends and differentiate your offerings to appeal to a broader customer base? While traditional choices like sandwiches remain popular in the UK (and certainly in my household), there’s a noticeable growth in the demand for alternatives designed for individuals looking for healthier, customisable, and portable meal solutions.
- Diversify product offerings. Can your product lines include new meal formats, more dietary options, or premium variations that cater to specific consumer segments? Consumer preferences are constantly evolving, so it’s about creating multiple selling points for your core product and appealing to a wider demographic to capture new market opportunities.
Highlight flaws (don’t hide them!)
Yes, you read that right. You can capitalise on product flaws too – not just qualities and benefits. Here are a few examples inspired by the timeless brand Guinness.
- Embrace and highlight the unique features of your products. What sets you apart from the competition? What’s your Unique Selling Point (USP)? Let’s think about Guinness and how they transformed the slow pouring process of their pints into a distinctive feature. How can your company leverage your products’ unique attributes to create a compelling value proposition?
- Turn flaws into features. Think of ways to reframe the perceived ‘flaws’ of your products into something that adds value. Sure, a pint of Guinness takes longer to pour. But is that a bad thing? Don’t ‘all good things come to those who wait’? If you start seeing the slow pouring process as a symbol of quality and craftsmanship, you suddenly change your perspective and mindset about the product. And then you’re more than happy to wait for that pint of Guinness for as long as it takes!
- Build trust through transparency. Honesty and integrity build trust. Surely, a company that comes across as too ‘squeaky clean’ must be hiding something! It sets off the scepticism radar in your consumers, and they start searching for a problem. By being upfront about the limitations or imperfections of your product, you get to create a more genuine connection with your customers.
- Personalised translation service – flaw or benefit?
For example, one of my ‘flaws’ is that I can’t offer high volumes of translation with a quick turnaround as some translation agencies do. Bigger businesses can provide this service by splitting a project between multiple people or using machine translation for extra speed (where applicable).
When you work with me, you have the guarantee I never do that. Although an independent translator won’t be the best fit for everyone, sticking with one person helps you maintain consistency and tone of voice. Plus, our relationship is more of a partnership – I’m fully invested in a successful outcome we can build on each time!
4. Use translation to reach new demographics
Are you making use of all the international opportunities at your disposal? As a professional translator specialising in German to English translations for clients in the food and chemical industry, I have a unique opportunity to help businesses like yours extend product opportunities beyond constant product innovation. Translation can play a crucial role in expanding your market reach. It allows you to appeal to a wider demographic and capture new market opportunities.
By effectively communicating your product descriptions, marketing materials, and website content in English, you can connect with international and English-speaking audiences.
This helps you to:
- Strengthen your brand presence.
- Drive international growth.
- Enhance brand visibility.
- Improve customer engagement.
- And establish credibility in new markets.
There’s also a marketing benefit from tapping into your translator’s cultural knowledge to identify new occasions for your products in different markets.
Would you like my help with your next translation project?
Whether you’re looking to introduce your products to English-speaking consumers, expand your online presence, or reach a global audience, quality translation services can be the key to expanding your product horizons and unlocking new opportunities to build lasting relationships with customers worldwide.
If you’re ready to explore how professional translation services can help your business reach new market segments effectively, email me at [email protected]. I’d love to help you increase sales of your existing products and build on your international success!
