Introduction
A 3 year-old, snacking company offering a meat snack (an alternative to jerky) had been selling into 2 retailers but they were not seeing the sales figures they wanted. The brand had a strong following on its website and passionate reviews of the product, but sales weren’t reflecting that customer energy. Struggling to figure this out, the snacking company’s team came to SPINS.
First listening to their story and then looking into the category data, the SPINS account representative recommended store-level data and the store locator tool, Destini. With the store-level data in hand, the executives of the snacking company reviewed their existing retail relationships. They immediately identified their voids and addressed them with the retailers.
Performance-Based Innovation and Activation
As the team further analyzed the data, they identified new flavor options based on what was performing well in their category, and as a result added 3 new flavors. They were also able to identify more desirable pack sizes and associated price points. They adjusted their pricing differently for natural retailers (lowered it 10%) and for conventional retailers (increasing 12%).
These efforts, combined with the store locator, ensured their passionate customers could always find the flavor and pack size they wanted.
SPINS data allowed this snack company to spring out of its 3-year rut and grow 340% in less than a year. The company enjoyed a 12x return on their investment and is headed for an even bigger and better future.
