It’s important to know that not every CPG broker is the same if you’re a food manufacturer looking for one. They can vary widely in a number of ways. This includes how long the business has been around, how good their service is, and even what their core values are.
Choosing a CPG broker to act as your liaison to retailers is a big decision. You want to be sure that their services will work and that their overall approach fits well with your goals.
When you’re considering which CPG broker to hire for your brand, here are 10 questions to ask. Their answers will help you decide whether or not they will be the right partner for your needs.
Landing the right food broker can be a game-changer for your specialty food business. But before you sign on the dotted line, it’s crucial to ask the right questions to ensure a perfect fit This comprehensive guide, drawing insights from two valuable resources, equips you with the knowledge and confidence to navigate food broker interviews like a pro
1. Unveiling the Broker’s Niche, Team, and Territory
a) Understanding the Broker’s Niche:
- What specific food categories or product types does the broker specialize in?
- Do their areas of expertise align with your product line?
- Do they have a proven track record of success in your target market?
b) Assessing the Broker’s Team:
- How many account representatives do they have?
- What is the experience level and expertise of the team members?
- What is the communication and collaboration style within the team?
c) Exploring the Broker’s Territory:
- Which geographic regions do they cover?
- Do they have strong relationships with key retailers and distributors in your target market?
- What is their understanding of the competitive landscape in your industry?
2. Delving into Channels of Trade and Key Accounts
a) Identifying the Broker’s Channels of Trade:
- What specific channels of trade do they focus on (e.g., supermarkets, specialty stores, food service)?
- Do their channels align with your distribution strategy?
- Do they have established relationships with key buyers in your target channels?
b) Understanding the Broker’s Key Accounts
- Who are their top clients and what percentage of their business do they represent?
- What are the key programs and initiatives they have in place to ensure success with these accounts?
- How can they leverage their existing relationships to benefit your brand?
3. Exploring the Broker’s Lines and Marketing Strategies
a) Analyzing the Broker’s Current Lines
- How many lines do they currently represent?
- What are their top-performing lines and why?
- Are there any potential conflicts of interest with your product line?
b) Evaluating the Broker’s Marketing Approach
- What marketing strategies do they employ to reach their clients (e.g., trade shows, social media, email campaigns)?
- How will they promote your brand to their existing network?
- What opportunities do they see for co-marketing initiatives?
4. Setting Goals and Aligning Expectations
a) Establishing Clear Goals
- What are the broker’s expectations for your product line in terms of sales and distribution?
- What are your expectations for the broker’s performance and level of commitment?
- How will you measure success and track progress?
b) Ensuring Alignment:
- Do your goals and expectations align with the broker’s capabilities and resources?
- Are there any potential roadblocks or challenges that need to be addressed?
- How will you work together to overcome obstacles and achieve mutually beneficial outcomes?
5. Understanding the Broker’s Prospecting and Follow-up Strategies
a) Assessing the Broker’s Prospecting Approach:
- What methods do they use to identify and pursue new business opportunities?
- Do they have a structured prospecting process in place?
- How will they leverage their network and resources to generate leads for your brand?
b) Evaluating the Broker’s Follow-up Process:
- How do they follow up on leads and nurture relationships with potential clients?
- What is their strategy for converting leads into sales?
- How will they keep you informed about their progress and results?
6. Additional Considerations for a Successful Partnership
a) Communication and Collaboration:
- What is the broker’s communication style and how often will they update you on their progress?
- How will you work together to resolve any issues or challenges that may arise?
b) Reporting and Analytics:
- What reporting tools and metrics will the broker use to track their performance?
- How will they share this information with you and provide insights to optimize your sales strategy?
c) Compensation and Fees:
- What is the broker’s fee structure and how is their compensation calculated?
- Are there any additional fees or expenses that you should be aware of?
7. Leveraging Additional Resources for Your Food Broker Search
a) “Questions to ask when interviewing potential brokers” by Deb Mazzaferro:
This document provides a comprehensive list of questions to ask potential brokers, covering various aspects such as territory, channels of trade, key accounts, marketing strategies, and prospecting approaches.
b) “22 Questions You Must Ask Before Hiring a Broker” by David Biernbaum:
This article offers valuable insights into the broker selection process, emphasizing the importance of understanding the broker’s niche, team, territory, and marketing strategies. It also provides key questions to assess the broker’s experience, capabilities, and alignment with your business goals.
By thoroughly analyzing these resources and tailoring your interview questions accordingly, you’ll be well-equipped to select the food broker that perfectly aligns with your business objectives and paves the way for a successful partnership. Remember, a well-prepared interview not only demonstrates your professionalism but also sets the stage for a productive and mutually beneficial collaboration.
What level of communication and reporting will you deliver?
It’s important to know you can get the information you need from your CBG broker quickly. Find out how long it usually takes for them to respond, how long it takes for them to make the reports you ask for, and how often they will meet with you. Good luck! I hope you find a partner who can respond quickly, make reports quickly, and meet with you as often as you need in the future. That’s our approach at Bay Food Brokerage.
If we get our product into stores, who will be providing the in-store sales support?
Different brokers use different types of teams to provide in-store sales support for their clients. This can include day labor, hourly employees and full-time salaried employees. (Bay Food uses the second one, which we think makes for a more motivated team that cares more about our clients’ success. ) This can indicate the level of dedication you can expect from the CPG broker’s retail team.
FOOD & BEVERAGE Interview Questions & Answers! (Food & Beverage Assistant, Host & Manager Interview)
Do food brokers need customer service skills?
Related: Everything You Need To Know About The Importance of Interpersonal Communication at Work It’s important for food brokers to possess customer service skills. When making sales or negotiating with clients, food brokers often use customer service skills to communicate effectively.
What does a food broker do?
Many manufacturers of food products try to successfully market their products in stores. Food brokers work directly with manufacturers and potential buyers to market products, negotiate prices and promote relationships between the two parties. If you’re interested in a fast-paced career in the food industry, consider a career as a food broker.
Why do food brokers need interpersonal skills?
Implementing interpersonal skills may equip the food broker to expand and distribute products in other markets. Related: Everything You Need To Know About The Importance of Interpersonal Communication at Work It’s important for food brokers to possess customer service skills.
How do you answer a food service interview question?
Describe your experience with stocking supplies and restocking shelves. This question allows employers to gauge your experience with the more mundane tasks of the food service industry. It also gives them an idea of how well you will be able to work with the rest of the team to ensure the food service area is functioning properly.
