How Beverage Brands Can Thrive by Expanding Beyond Craft Beer

In today's changing and competitive beverage market, it's crucial to recognize that limiting yourself to a single segment, such as craft beer, can constrain your growth potential. Recent data shows that 30% of non-craft drinkers prefer other beverages, and 25% favor different alcoholic options. This highlights a significant opportunity: by broadening your horizons and embracing a more comprehensive approach, you can appeal to a wider audience and drive substantial growth.

Broadening Your Horizons:
Seeing your company as a beverage brand rather than just a craft brewery is essential for sustained growth. This broader perspective enables you to enter new segments and diversify your brand identity or even create new brands. For example, Southern Tier Brewing Company, a well-known craft brewery, expanded into the spirits segment a few years back, successfully attracting a new target audience and enhancing their market presence. Similarly, Schilling, originally known for hard cider, launched Schilling Hard Lemonade to capitalize on consumers' growing desire for flavored beverages. By embracing such opportunities, you can diversify your offerings, evolve into a comprehensive beverage company, and drive growth across various segments and target audiences. Avoid pigeonholing yourself into a smaller market niche.

Expanding into New Segments:
Consider how your company can develop products that appeal to drinkers in other segments. Many brands are concerned about the shrinking craft beer market. While there remains significant opportunity within craft beer, imagine the additional growth potential by expanding into new segments. Just because you’ve been a craft brewery in the past doesn’t mean you can’t explore new avenues in the future. Expanding into new segments does not detract from your credibility or success as a craft brewery; rather, it enhances your brand's versatility and market reach. For instance, a craft brewery could start a separate RTD or FMB brand to capture new target audiences and capitalize on emerging trends.

The beverage industry is dynamic and ever-evolving, demanding a flexible and forward-thinking approach. By expanding your product range and targeting a broader audience, you not only enhance your growth potential but also ensure your brand remains competitive and relevant. Embrace the mindset of being a versatile beverage company, and watch as new opportunities unfold, driving your brand to new heights of success. Don't limit your potential; diversify and thrive.

Are you interested in transforming your brand into a comprehensive beverage powerhouse? Click the link below to set up your FREE STRATEGY CALL. Let us guide you in navigating the market and unlocking your brand’s full potential for tangible success.