Learnings from Presidents Conference
Reflecting on our nation’s recent election results, one thing is clear: people are signaling a desire for change. (Don’t worry. No political commentary here. Just food, business and few observations.)
But it did get me thinking about a theme that came through loud and clear at this year’s IFMA: The Food Away From Home Association’s Presidents Conference: consumers are telling the foodservice industry what they want. The question is, are we listening?
In the away-from-home food business, it’s easy to get caught up in the pressures of business. Operators are focused on traffic and margins. Manufacturers are focused on innovation, distribution and growth. Agencies—like FoodMix Marketing Communications—are busy building strategies, campaigns and the next big idea. All important stuff. But sometimes, we lose sight of the person at the other end of the transaction.
The consumer.
And today’s consumer is asking for more. More convenience. More value. More choice. More experiences. And, above all, great taste.
The brands and operators that will win are those that recognize consumer desires and figure out how to deliver it.
Value doesn’t always mean less expensive.
One of the more interesting takeaways from this year’s Presidents Conference was the continued importance of experience and indulgence, even in an uncertain economy.
Think about it. Consumers will absolutely pay $8 for a beverage if it gives them a little escape, an opportunity to connect with friends, a chance to try something new or simply a moment of indulgence. Those small experiences and everyday splurges give people something to look forward to.
That’s an important distinction for our industry. Value isn’t always about having the lowest price. It’s about giving consumers a reason to SPEND.
Function might get them in the door. Flavor gets them coming back.
We’re continuing to see more emphasis than ever on ingredients, functionality, health and wellness. (Hello GLP1s.) Consumers are paying attention to what they’re eating and drinking. But it’s important we not forget the most important thing: it has to taste good. Because flavor is what gets them to come back.
Plus, let’s not make our consumers work too hard. They don’t necessarily want to become ingredient experts. They want to know how an offering fits into their day, what it does for them and, most importantly, whether they’re going to enjoy it.
It’s our job as an industry to connect those dots. Translate the ingredients, benefits and features into something meaningful. Not just what a product contains, but why it matters to the person buying it.
AI is a tool. People are still people.
AI was, predictably, a hot topic throughout the conference (maybe overly emphasized?). There’s no question it is continuing to change how we work, communicate and market brands. But I sometimes wonder if treating AI as an entirely separate phenomenon rather than the next evolution in technology might be a mistake. Or, maybe it is just that I’m a people person and I still hope we can find balance in how we incorporate it into our daily work.
During the roundtable discussion led by my partner, Sara Hagen, the group talked about human connection and the role it plays across every touchpoint, whether AI, digital, direct mail or something much more traditional. The medium may change, but the need for connection doesn’t (which by the way, has proven to be true in each of the Operator Path to Purchase surveys we’ve conducted here at FoodMix. Foodservice operators still prefer connection with a live sales person).
Technology can help us create better experiences, reach people in more relevant ways and work smarter. But it shouldn’t replace the human element that makes those connections meaningful.
A product is a product. A brand is something more.
This is clearly a topic we hold dear here at FoodMix.
During one of the discussions, Michelle Lane from Mike’s Hot Honey delivered what was, hands down, my favorite quote of the conference:
“The one thing private label doesn’t have is a brand.”
Simple, direct and a pretty good reminder of why brand building matters.
In a marketplace where consumers have more choices than ever, a product alone isn’t always enough to stand out. Brands give people something to connect with. They create familiarity, trust, personality, and hopefully, a reason to choose.
A strong brand has an opportunity to compete on something much harder to replicate: an emotional connection, or as we like to say at FoodMix, Brand Love.
And finally, there’s nothing artificial about a good martini and a great conversation.
I’ll admit, I’m a big believer in the personal side of Presidents Conference. Because some of the best takeaways happen between sessions, over a meal, or while enjoying a very good dirty martini at Toro. (For the record, Sara highly recommends.)
I still believe that this is a relationship business. And we all crave a real conversation, reconnecting with old friends, and meeting someone new (including our friendly agency competitors who help create a versatile and lively community).
It’s how business gets done. And it’s still the primary reason we attend these industry events.
The key takeaway?
Keep your eyes on the consumer, embrace new technology and build brands that give people a reason to come back. Because great food, memorable experiences and human connection are what the away-from-home space is all about. Oh, and a good martini!
Find out how FoodMix can help you create Brand Love for your products and services by contacting us today!
