Matthew Iovane Discusses How To Thrive In The Beverage Industry
Jul 25, 2022
United States - July 25, 2022 —
Matthew Iovane earned his stripes as a beverage specialist while working for internationally acclaimed spirits brands in London, England. Having grown up with a father as a notable restaurateur, Iovane was exposed to the life of entrepreneurship early on and sought more from the industry.
Now, Matthew Iovane is based full-time in the U.S. He is a partner at HEAVENSAKE, a super premium Franco Japanese Junmai sake brand, and more recently advisor and angel investor at Bloc Collective, a new twist on a premium premixed canned cocktail. Matthew Iovane has a wealth of experience in brand building from launch to exit.
HEAVENSAKE has won six prestigious awards for its flavor, complexity, and originality and Bloc Collective won the ADI award within its first year of launch. Iovane was recently asked to share some of his insights into the beverage business and what it takes to develop an award-winning brand. Here is some of what was discussed.
Matthew Iovane Discusses How to Thrive in the Beverage Industry
Matthew Iovane explains that the first step to starting a great adult beverage product and brand is to start preparing. "Have a great idea," Iovane says, "That's number one." But as he explains, ideas alone are not enough. "You've got to have the resources, the partners, and know how to make a beverage that gets right to the heart of what your audience is looking for."
“Know Yourself and Your Team,” Says Iovane
Creating one of a kind business idea that works where none others have is a function of a creative mind, Matthew Iovane explains. Running a business, and seeing to the day-to-day tasks of keeping it afloat, is a function of a conscientious mind. Either the brand needs to have both types of thinkers on the team, he says, or it needs to be able to switch between these two modes. If team members have great ideas, he says, that's fantastic. But leaders need the wherewithal to maintain it, he says, and that means having the right people on point.
Be Agile Yet Stable
Once the company gets the product line up and running, says Iovane, that's where the rubber touches the road. They’re soon going to get feedback from customers, partners, and the industry as a whole, he says. When that happens, Iovane adds, they need to respond quickly and effectively without abandoning their brand promise.
According to Iovane, the brand also needs to be able to expand and grow without losing what worked well from day one. "It's a bit like being able to move while standing still,” says Mathew Iovane. “If you can make sense of that in a practical way, you might be alright."
Understand Brand Positioning
If a beverage company came out with a craft beer and called it the "King of Beers" with a red white and gold label, says Iovane, it might be right, but it'd also clearly be stepping on some pretty big toes. The brand message should be subtle, yet bold, and it should hold up on the taste test. A company’s branding message should be unique and address an audience or a desire that is not being addressed.
Have a Genuine USP
A company’s branding should reflect its unique selling proposition accurately. HEAVENSAKE, says Iovane, does this by offering a well-known beverage experience executed in a truly original way. Beverage brands need a vision for a taste experience that people want, that they aren't getting, and that the brand can pull off, says Iovane.
Deliver the Goods
Finally, the product should deliver on everything that was promised. It should be consistent, unique, and dazzling. "Short of that," Matthew Iovane continues to mention, "You might as well be selling juice boxes."
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Name: Matthew Iovane
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