Marketing & Sales
The marketing strategy will be based on generating awareness and visibility of Botanical Bounty and their ability to produce the highest percentages of botanicals. The strategy will rely on several different forms of communication. The main form is participation in the numerous trade shows for the industry. The trade shows are where everyone from the industry gathers to meet and transact business. It is a wonderful place to network as well as learn about new developments in the industry. The second form of communication will be the use of advertisements. The main venues for advertisements will be industry trade magazines. The trade magazines are a well read source of information that buyers and sellers refer to for many different transactions.The final form of communication is Social Media. We will be placing expert articles on the website. We will be linking with potential business customers in Linkedin. Our customers will tell us about their favorite natural remedies in Twitter and show pictures on Facebook and Instagram.
Botanical Bounty’s sales strategy efforts will focus on identifying qualified leads and turning them into paying customers. The main sales effort that Botanical Bounty will undertake is the reinforcement of the fact that Botanical Bounty’s plants have the industry’s highest percentage of botanicals. This will be quite appealing to the buyers as this is exactly what they want, more botanicals per plant. In addition to selling the buyers on Botanical Bounty’s competitive edge of potent plants, there will be an emphasis on Botanical Bounty’s ability to perform on long-term contracts.
Botanical Bounty recognizes that the transactions should not be thought of as individual sales, but as long-term relationships. This is a reasonable assumption based on the fact that the customers are in the business of utilizing botanicals, that they will continually have the need for the botanicals, and that it is far less expensive to establish a relationship with one vendor than to continually have to find new vendors that can meet their needs.
Locations & Facilities
Botanical Bounty is a 10 acre farm that concentrates on the growing of botanical medicinals. Botanical Bounty has chosen five plant species that have significant market demand as well being well suited for growth in the Willamette River Valley. Botanical Bounty will feature: Echinacea – an immune system booster; Ginseng – a source of energy; St John’s Wort – for mild depression; Skullcap- for inflammation; and Ginger – a stomach soother.
Milestones & Metrics
First Large Contract
|Jan 09, 2020|
100 K in revenue
|Jan 15, 2020|
|July 23, 2020|
Business Plan Competition
|Dec 05, 2020|
Our key metrics are:
- Sales, cost of sales, expenses, profits, and cash.
- Production cost of goods. We need to keep them low.
- Keep current on our competitors botanical concentration and prices.
- Measure the number of emails and phone calls.
- Measure the Facebook Page views and Twitter re-tweets.
- Measure website searches and inquiries.