How to make your Social Media Marketing actually deliver profits

Also, advice for brick and mortar, don't be hard on yourself, and a look at the stars

👋 Happy Tuesday Everybody

Today we’ll be talking about:

• Tips and advice for when you’re opening a brick-and-mortar location.

• Even the biggest brands stills struggle to be profitable.

• The Food Marketers horoscope with Nathan Wilder.

• How to create positive ROI on your social media marketing.

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Advice for launching a brick-and-mortar location

This was posted by a friend in an online community - and some of the insights are worth keeping in mind if you’re launching a brick-and-mortar location yourself.

Baker Kirsty Shaw started her online cookie business in 2020 and is now considering opening a brick-and-mortar bakery.

She asked the community for advice. Here’s what they had to say:

1. Don’t underestimate your bargaining power. Leases are negotiable in the current retail environment:

   • Ask for Tenant Improvement (TI) funds to cover build-outs

   • Always have an out: A one-year lease with the right to renew, a penalty of a few months’ rent, or a six-month notice period.

   • Consider a “floating” rental, where you negotiate a lower base rent and pay additional instalments on top of it — depending on your sales.

2. Location, location, location! It’s a cliche for a reason. “If the site doesn’t work for your business, good deal terms are irrelevant.”

3. Build realistic forecasts. Note the small details and unexpected costs:

   • Traffic counts

   • Parking access

   • NNN expenses

   • Visibility from the street

   • Demographics in the immediate area

   • Whether customers will mainly be walking, driving, or both

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Liquid Death is still not profitable.

Sometimes it’s easy to fall into the “why is everybody more successful that me” trap, especially when following brands that seem to be killing it in market, such as funky water, Liquid Death.

But guess what? The company is losing millions and struggling with a margin of just 12%.

Check out this Forbes article for more details, why they are not profitable and what they are planning to do about it.

So, give yourself a break, take a deep breath and keep on building.

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What the stars say about your business outlook

We teamed up with International Astrologer Nathan Wilder to look at how the stars might affect your food business. 😅

Here’s what he has to say:

”Mercury is going retrograde across Taurus, so make sure to double-check travel plans, emails and texts.

There may be a monetary lull. The tension caused by this retrograde may feel as if you are waiting for something, which may lead you to create unnecessary drama in your mind.

Therefore, try to accept things as they are. When you see what is actually in front of you, you will find it easier to deal with things.”

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How to make sure that your Social Media delivers profitable results

Here’s the top complaint I hear from food marketers about social media:

“It’s expensive and doesn’t deliver any returns.”

Does that sound familiar?

But the real issue often becomes clear when I ask a follow-up question:

"So tell me, what business objectives are you trying to achieve with your social media, and how are you making sure that you are working towards those?"

95% of the time, that question is met with…crickets, confusion and a blank expression. And that silence is the main reason why so many people are frustrated with the outcome or return of their social media efforts.

Failing to plan is planning to fail, and most food marketers fail to plan their social media in a way that gives it a fighting chance to deliver a positive return on investment.

So let’s take a look at how we can change that.

1. Set Clear Objectives and KPIs

What doesn’t get measured won’t get managed. And if you don’t set KPIs, you’re setting yourself up for automatic failure.

Before you dive into social media marketing, before you decide on your platforms of choice, before you decide if you’re going to blog, or TikTok or develop recipes…. before you do any of the above, it's essential to define your objectives and Key Performance Indicators, usually shortened to KPIs.

Ask yourself the question, “Why am I doing this?” before you even think of asking, “What am I going to do?”

Having clear and documented goals helps you stay focused and allows you to measure the effectiveness of your campaigns. Examples of objectives and KPIs include: