The non-alcoholic beverage market is predicted to be worth $1.60 trillion by 2025, while the alcoholic beverage market is predicted to be worth $2.2 trillion by 2025. Both markets struggled during the pandemic but are already showing signs of rapid recovery!
Currently, there are more drink brands than we could count. The Coca-Cola Company alone has over 200 brands!
But learning how to create your own drink brand may not be as complicated as it sounds!
Where can you go for custom beverage development? How important is research when creating a new drink? Will your formula influence your target market? To discover the answers to these questions and more, keep on reading as we explore everything you need to know to make your own drink brand!
In the Beginning
So, you want to create your own drink brand…but why? This may seem like a silly question, but before you can begin creating a new drink formula or designing logos, you need to understand the motivations of your brand.
A good starting point is your mission statement: a summary of the aims and values of you and your company.
Let’s consider Coca-Cola as an example. Their mission statement includes: “To refresh the world… To inspire moments of optimism and happiness… To create value and make a difference.”
What do you hope to achieve with your drink? Will it provide energy or health benefits? Will it offer a unique flavor or be an affordable alternative to existing brands?
Your goals and values will shape your brand, so spend as much time as is necessary at this stage!
Research Is Key
Before you make your own drink or decide on logos or brand colors, you need to carry out extensive research. Some of the most common forms of market research include:
- Surveys
- Focus groups
- Personal interviews
- Field trials
- Observations
You’ll carry out different types of research during different stages of development. Initially, you might only use surveys, focus groups, and interviews.
The purpose of this research is to discover gaps in the market, identify your target audience, and get feedback on any ideas you already have. Use this feedback to guide the development of your product and brand.
You’ll now be ready to create your own drink!
Creating a New Drink
Regardless of whether you’re in the alcoholic or non-alcoholic market, to create your own drink, you’re going to need something original. Some questions you may need to ask yourself about the drink include:
- Is it healthy?
- Is it high-quality?
- Is it affordable?
- Are the ingredients ethically sourced?
- Are the ingredients eco-friendly?
- Is it suitable for vegans and vegetarians?
- Are you focusing on one drink or several?
The formula of a drink will influence costs and market potential. For example, an expensive, high-quality drink wouldn’t be a good fit for a student market.
When testing different formulas, you must try as many different ingredient combinations as you can. Spend as long as it takes to truly perfect the drink. You can always make minor alterations to the ingredients later, but the taste itself will become part of your brand.
Return to the market research stage with variations of your favorite recipes and get as much feedback as possible! Creating a new drink will require a lot of tweaking, but the final product will be worth the effort!
You’ll need to consider how long the development process takes and whether you own the final formula. When it comes to custom beverage development, these are just some of the frequently asked questions.
Stand Out
Once you create your own drink, it’s time to start finalizing the brand! Given how massive the beverage market is, your product, brand, and company will need to stand out from all the competition.
What unique concept will drive your brand?
How will this tie into your logo, name, and overall design?
What colors will you use and how will this tie into the flavor of your drink(s)? Remember, there’s a psychology behind color choice.
What is your brand promise?
No matter what smaller branding decisions you make, authenticity is key! Don’t make promises you can’t keep and only lean into ideas that make sense for your brand. For example, if you’re selling a party drink, don’t brand it as being dark and mysterious or rooted in folklore.
During this stage, you’ll need to consider any legal issues, how you’ll produce and distribute the product, and all the costs required for equipment, staff, and ingredients.
Social Media and Marketing
Once you design your own drink brand, you need to focus on marketing! No matter how good (or bad) your drink is, you’ll struggle to sell a single bottle if you don’t market properly. In the modern world, brand awareness begins with social media!
The importance of social media and marketing cannot be understated! Your company and brand will need accounts on all the main social media sites and apps, such as:
- YouTube
- Snapchat
- Twitch
If your target market uses any website, you want your brand to have a presence on it. Upload videos, send images, start competitions, and build your networks!
In a nutshell, that’s how to make your own drink brand!
Ready to Create Your Own Drink?
Hopefully, this article provides you with all the information you need to create your own drink brand. This quick guide provides the big main stages of development, as well as some hints, tips, and suggestions.
Need help creating a new and exciting drink formula? Click here to contact Drink Labs today and receive your free quote!