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Volume 40- November 21st, 2021                                                                                                                        View in Your Browser

TODAY'S NEWSLETTER πŸš€

Happy Sunday everyone! 

I hope you’re all enjoying a calm weekend ahead of all the Thanksgiving festivities. I love hearing from my readers, so reply back and let me know what your favorite Thanksgiving food is. 

In today’s newsletter: 

  • How Dream Bites Became Our Hero Product 
  • Planning for 2022
  • Case Study: Fly By Jing 

If you’re lucky enough to find this email in your inbox but aren’t a subscriber, click here to subscribe now.

HERE'S THE SCOOP 🍦

Product Innovation 101

By Q1 of 2022, Dream Pops will have leaped out of the freezer aisle to bring you plant-based takes on your favorite shelf-stable treats. But how did we––a frozen-first brand––decide to launch product extensions outside of the freezer aisle? 

We’re not new to product innovation. 

Shortly after launching Dream Pop’s flagship product, our pops, an internal battle sparked between myself and high-level team members because I wanted to launch a plant-based version of a childhood favorite, dibs.  The product saw much less competition––small bite-sized ice cream can be extremely difficult to manufacture. Plus, and I can’t explain it better than pure intuition, I knew that Dream Bites would answer our customers' wants. Still, I was getting lots of push back, many members of the team and advisors saying it’s too early for the brand to launch a product extension. 

I understood why. So many brands do product innovation wrong. They fall victim to pivoting their business to look like what investors want, rather than what’s on-brand. Or, overextend themselves to a level where it’s impossible to succeed. But still, I knew there was a way to launch a new product that balanced risk with the values of our business, so I made my case and ultimately launched Dream Bites. In order to limit risk, we launched only 2 SKUs in a small number of stores we had great relationships with. They quickly sold out and are now our hero product. Getting Dream Bites on the shelf completely changed our business and took us to new heights, proving that product innovation can be done early, and successfully. 

So, how does our early success with product innovation shape our future? 

Looking ahead to 2022, we knew we wanted to launch a product that aligned with our brand values and business goals. So we made a list of our current challenges––something every entrepreneur should do as they look to launch a new product–– and solved for each and every one of them. 

Challenges: 

  • Difficult to sell Dream Pops online–frozen DTC is near impossible and extremely expensive  
  • Limited retail real estate 
  • Sales cycles to break into the frozen section at retailers can take 1+ years 

Faced with these challenges, we worked backward to determine that shelf-stable was our future. Not only do we not have to compromise on our brand mission of making better-for-you treats, but the business case speaks for itself. As we approach 2022, look out for Dream Pops on shelves near you! 

CASE STUDY πŸ“”πŸ“–

A brand that’s recently killed the product launch game is Fly By Jing, the brand behind the wildly popular, mouth-numbing Sichuan Chili Crisp which ended up as the #1 best-selling hot sauce on Amazon 6 months after launch. Now, expanding on their mission to bring uncensored Chinese flavors to the world, Fly By Jing has launched three flavors of frozen dumplings––which all immediately sold out on their website.  

EXCLUSIVE DECK 🀫

If you want to learn more about our unique early B2B approach, I’ve created a deck that dives into more detail for subscribers here. It includes outreach templates, apps we use, and important strategies I’ve learned along the way, so definitely take a look.

CHERRY ON TOP πŸ’

FURTHER RESOURCES ON TODAY'S TOPIC


 

MONDAY TO SUNDAY πŸ’‘

THE LATEST CPG NEWS

UP NEXT ➑️

If you made it this far, major thanks for reading this week.  I’m looking forward to seeing you in your inbox next Sunday. Have a great Thanksgiving!

As always, feel free to reply back with feedback, thoughts, and questions. 


-DG

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The Courage to Dream. The Will to Innovate. The Tenacity to Execute.

The Courage to Dream. The Will to Innovate. The Tenacity to Execute.

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