Capstone Team Project: Hailey Miller, Logan Nolte, Ryan Odell & Brunard Octavius

You might also like

Download as pptx, pdf, or txt
Download as pptx, pdf, or txt
You are on page 1of 36

Capstone Team Project

Hailey Miller, Logan Nolte, Ryan Odell & Brunard


M I S S I O N S TAT E M E N T F R O M O W N E R

The Sippin' Sidecar is here


to make your event vision
come true. We tailor our
services to what you need in
order to give you the best
experience possible.
EXECUTIVE
SUMMARY
The purpose of this report is to address the research question of "What resonates with
perspective customers, which might be useful in marketing services to create more interest
for the development of future event contracts? When answering this question we provide
information from our primary and secondary research. Also included in this report is a
Situation Analysis, Target Market formation, a Competitive Landscape overview and a full
SWOT Analysis.
To end this report three recommendations are provided to address the research question. Our
first recommendation is to bring The Sippin' Sidecar to local events and markets in an effort
to broaden consumer awareness of the brand. Our second recommendation is to increase
The Sippin' Sidecar's online media presence through both paid advertisements and the
encouragement of ratings and reviews from previous clients. The final recommendation is
based around co-branding with various event service providers and statewide influencers.
TABLE OF CONTENTS
Title Page 1

Mission Statement 2

Executive Summary 3

Table of Contents 4

Situation Analysis 5

Target Market 6-8

Competitive Landscape 9-11

Overview of Research 12

SWOT Analysis 13-18

Recommendation One 19-24

Recommendation Two 25-29

Recommendation Three 30-34

References 35-36
SITUATION
ANALYSIS
The Sippin’ Sidecar was founded by Olivia Pollard in June of 2020. Pollard was inspired by her
passion for crafting drinks and creating memorable experiences for people. The Sippin’ Sidecar is a
brand new entrepreneurial endeavor attempting to make waves in the beverage industry of Central
Florida. The Sippin’ Sidecar started its life as a 1962 Shasta camper and was carefully renovated to
what it is today- a beautiful bar cart with a boutique-like aesthetic and a whole lot of character.

The Sippin’ Sidecar currently finds itself in the start-up or growth stage of development. Pollard
hopes to raise awareness and eventually expand her business state-wide. The challenge to be
addressed in this report revolves around how to best attract perspective customers through specific
marketing services in an attempt to create more interest for the development of future event
contracts. This report will provide detailed recommendations that are backed by data in an effort to
resolve the challenges The Sippin’ Sidecar currently faces.
TARGET
MARKET The Millennial Market:
Millennials make up roughly 25% of the US
population, this generation has become the
largest living adult population in the nation.
Millennials value social interactions,
meaningful motivation and they tend to be
adaptive and open to change. Due to the size
of this generation, it is important to
understand various subsets within this
population. It is a common mistake to
generalize characteristics based on
generational aspects. In order for millennials
to be properly targeted, this generation has
been broken down based on purchasing
habits and income availability.
TARGET MARKET
(CONT.)

The Go-Getter Millennial The Achiever Millennial The Aspirationalist Millennial


The Achiever Millennial is in his or her late twenties to early The Aspirationalist Millennial is in his or her mid to late twenties,
The Go-Getter Millennial is in his or her mid to late twenties.
thirties. This group tends to earn higher wages than the average similar to the Go-Getter. What sets this group apart is their
They have graduated college and have established a career. This
millennial due to their older age and more years of experience. enthusiasm and eagerness to try new innovations and ideas. This
group tends to be price conscious, but are willing to pay for
The Achiever prefers quality over price and they have a higher group tends to make an average income, but spends more on
quality products and services.
disposable income to spend. discretionary purchases.

DEMOGRAPHICS DEMOGRAPHICS DEMOGRAPHICS


AGE: 26-30 AGE: 28-34 AGE: 26-30
L O C AT I O N : T a m p a , F L L O C AT I O N : F l o r i d a L O C AT I O N : T a m p a , F L
AV E R A G E I N C O M E : $ 6 0 , 0 0 0 - $ 7 0 , 0 0 0 AV E R A G E I N C O M E : $ 7 0 , 0 0 0 - $ 8 0 , 0 0 0 AV E R A G E I N C O M E : $ 6 0 , 0 0 0
AV E R A G E WEDDING COST: $25,000- AV E R A G E WEDDING COST: $30,000- 13% of Millennial Population
$30,000 $35,000
46% of Millennial Population 19% of Millennial Population
CHARACTERISTICS
CHARACTERISTICS CHARACTERISTICS Unplanned Buying Approach
Responsible Buying Approach Consistent Purchases New-Product Oriented
Planners Health Conscious/ Ingredient Sensitive Te c h n o l o g i c a l l y S a v v y
Emphasizes Quality & Price Equally Emphasizes Quality Over Price E m p h a s i z e s Q u a l i t y, P r i c e , & C o n v e n i e n c e
G o o d U n d e r s t a n d i n g o f Te c h n o l o g y Environmentally Conscious
TARGET PERSONA

The Go-Getter The Achiever The Aspirationalist

JUSTIN SMITH HANNAH JAMES E M I LY B L A C K


AGE: 27 Tampa, FL AGE: 31 Orlando , FL AGE: 26 Tampa, FL
Public Relations Specialist Physicians Assistant Entrepreneur

Justin Smith works at a Marketing firm in Tampa, Hannah James has established herself in Orlando as a Emily Black is a successful small- business owner in
Florida. He has lived in Tampa most of his life and Physicians Assistant. She grew up in Michigan and Tampa, Florida. She graduated with a degree art
currently resides in the neighborhood of Seminole moved to Florida to attend the University of Miami. history in 2017 from the University of North Florida.
Heights with his long term partner and their two dogs. Hannah is in a long term relationship and plans to tie After she graduated, she took the risk of opening up
He loves living in Tampa and hopes to one day have a the knot within the next few years. Her career has put her own Art Studio and has met lifelong friends in the
wedding near home so his friends and family can all her in a comfortable financial position, and she enjoys process. Emily is single, she has a cat names Sprinkles
attend. splurging on products and services that she finds and enjoys throwing parties with/ for friends.
neccessary.
COMPETITIVE
Direct Competitors: Competitors to Sippin’ Sidecar that provide very similar services and bar themes
LANDSCAPE

Location: St. Petersburg, FL Location: Seminole, FL Location: St. Petersburg, FL


Single-Owner, Small Business Single-Owner, Small Business Single-Owner, Small Business
Instagram Follower Count: 3,254 Instagram Follower Count: 6,324 Instagram Follower Count: 1,200
Packages starting at $1,200 Travels first 30 miles free, Travels first 50 miles free,
Travels first 25 miles free, $2 per mile $1 per mile after $1.25 per mile after
after Locations exceeding a 3 hour drive Limited Tap System
require a $150 fee for lodging
Offers lawn games, hot cocoa + coffee
bar add-ons, lemonade station +
decor rental options
COMPETITIVE
(CONT.)
LANDSCAPE

Location: Orlando, FL Location: Tampa, FL Location: Nationwide Options


Single-Owner, Small Business Single-Owner, Small Business including South + Central Florida
Instagram Follower Count: 971 Instagram Follower Count: 2,417 Franchise Business
Packages starting at $750 Offers Event Alcohol Calculator Instagram Follower Count: 2,006
Travels first 25 miles free on Website Packages starting at $1,450
Serves up to 75 people total
COMPETITIVE
(CONT.)
LANDSCAPE
Other Market Competition:
Strictly Bartending Services + Premier Bartending Services +
Tampa Bay Bartending Service
Event rates from $155 in Tampa for very similar products and services
Does not have the same aesthetic as the mobile bar

Self-Providing
Buying alcohol individually + having guests self-serve
Only requires the cost of alcohol and setting up coolers + tables
Very low quality + no aesthetic + not as welcoming to guests
OVERVIEW OF RESEARCH
When conducting research for this report, a multi-method approach was used combining secondary and primary data collection.

The Situation Analysis was researched through The Sippin' Sidecar's home website. Information from Olivia Pollard both in the class meeting and the
resources we were given on Canvas were also used for this section.
When researching the Target Market, a wide assortment of databases and websites were used such as Wedding Wire, Forbes, The Knot, Tampa Bay
Business Journal, and Yahoo News. These resources were used to find insights on the demographic data available around Tampa Bay and Florida in
general. They were also used to find data about events in the area and the average budget for various events such as weddings, birthday parties, or any
other event.

For the Competitive Landscape and recommendation on SEO and social media presence, all research was acquired through secondary research
methods. Reading articles to learn about the different plat forms offerings and benefits for a small business, as well as acquiring statistics on the other
businesses and for references to support our recommendation, was the main way that we implemented these methods.
OVERVIEW OF
(CONT.)
RESEARCH
Primary Data Collection - Survey
Using Qualtrics, we created a survey of 14 questions to distribute through our social media channels. Survey takers were asked
simple questions regarding their demographics, such as age, gender, and if they were married, single, or going to be married.
The remainder of questions asked in the survey were used to gather perceptions based upon the research questions at hand. Listed
below are some of the insights we gathered.

91.4
Total Number of Participants: 120 of survey takers found the aesthetic of
AVERAGE AGE: 33 a business to be either moderately,
74.4% Female - 25.6% Male very, or extremely important

58.6 %
30%
of survey takers said they were definitely of survey takers said they would most
more willing to work with a business that likely splurge on an open bar when
offered a discount to returning customers. planning an event.

%
66.3 61.5
of survey takers said they are more likely to of survey takers said they prefer to see
follow a business on social media if they a business post 1-2 times per week on
share behind the scenes parts of the business social media
SWOT ANALYSIS

STRENGTHS WEAKNESSES
Aesthetic Inability to provide alcohol

Mobile rather than fixed location Brand Awareness

Strong relationship with other Vendors Search Engine Optimization

Flexibility within event types Social Media Following

Add-ons Covid-19 Safety Procedures

OPPORTUNITIES THREATS
Niche industry with close competition Bars/Restaurants/Other places that can hold events

1962 Shasta camper Other Bar Services

Awareness, expansion Covid-19

Add Drink Cost Calculator to Website


STRENGTHS
The strongest attribute regarding The Sippin’ Sidecar is the
aesthetic achieved and how it resonates with the target
market. The vintage car outside with all the pictures on the
website really drives the style of the service and those who
have an event with some of these ideas already in place will
look to Sippin’ Sidecar with praise. The other attribute that
strengthens the position of this service would be the mobility
of it. Especially during COV-19, having the ability to bring
the service anywhere will greatly improve sales as the
convince factor is huge. The last attribute that really sells this
service would be the addons allowed on the package page.
Most bar services only do strictly bar tending, as this service
helps further the aesthetic of the event with glassware, bar
décor, etc.
WEAKNESSES
The largest point that cannot be fixed but can be mitigated
better would be the inability to provide alcohol to the
consumer. On the company website, the approach to this
question, “Who provides the alcohol?” is not favorable
because the inability to serve alcohol will not come obvious
to those seeking bar services. The price of the service is
also more expensive compared to other bar services in the
area: Plus Catering Orlando starts at $600 for beer and wine
services, Spunky Spirits starts at $295 compared to the
starting price of $700. Another weakness The Sippin'
Sidecar should attempt to overcome is their Search Engine
Optimization and social media presence. When searching
for bar cart rentals online, it is difficult to find The Sippin'
Sidecar as an option without specifically searching "The
Sippin' Sidecar." The last weakness would be the lack of
Covid-19 safety procedures. As the pandemic continues,
people need reassurance that the services they are inviting
over are clean and safe. Adding something regarding
Covid-19 would be beneficial.
OPPORTUNITIES
The opportunities presented from Sippin’ Sidecar all start
with the nature of the industry. The look achieved by
Sippin’ has a few direct competitors when it comes to
aesthetics and services, but this has allowed for a
beneficial relationship between the services as it has
been defined as a close community of vendors. This
allows for potential new jobs as these vendors could send
a consumer Sippin’s way if the needs fit the service. The
other factor that shows opportunity is the 1962 Shasta
Camper. This retro car will grant access to old car events
and shows, which can have a large amount of people
attending. The use of this car garners a great deal of
attention from all generations. Being in the start-up/
growth phase, The Sippin’ Sidecar has the opportunity to
grow awareness and ultimately the expansion of service
ranges.
THREATS
The largest threat hands-down are restaurants and bars that
can/are willing to host events for consumers. Some people
may find this much easier than buying the alcohol
themselves and rather to have the entire event handled by a
single entity. Having these services to directly compete with
will not be easy, but the consumers that do come to Sippin’
will ultimately spend more. A few more direct competitors to
keep in mind would be other bar services in the south Florida
area such as: Plus Catering Orlando, The Knot, Tampa Bay
Bar Services. These services offer competitive pricing to
Sippin’ Sidecar but some lack in aesthetic. While many
threats are up with Sippin’ Sidecar, the aesthetic allows for it
to shine through. The current world Covid-19 pandemic has
greatly impacted many industries including the bar industry,
Eighty-seven percent of survey respondents said they have
canceled — and 66 percent have postponed — events as a
result of COVID-19 (Russel, 2020). The pandemic continues
to persists as nationwide number begin to rise again.
Inconsistent event scheduling, and even political factors
(closing of public places again) can continue for the near
future.
R E C O M M E N D AT I O N O N E

Bringing The Sippin' Sidecar to Markets around Tampa Bay


Farmer’s markets in central Florida are gaining attention of millennial consumers due to their support of
small businesses and their emphasis on shopping locally. In the Tampa Bay area there are dozens of markets
throughout the year with attendance counts reaching upwards of 10,000 people. Setting up The Sippin’
Sidecar at a local farmer’s market would not only potentially create profits for the business but would also
provide ample space for marketing and spreading awareness of the brand itself. Word of mouth marketing is
what we are aiming for here, when a customer sees the cart set up with decorations and buys a delicious
drink, they are more likely to tell friends and family about the business simply because they now know it
exists. The Sippin’ Sidecar will be able to sell itself when seen in action by consumers who may be in the
market for open bar rentals.
Along with the sale of mocktails, lemonades, and more- a brochure will be created to hand out to consumers
with a breakdown of the services offered, photos, and social media accounts.
If The Sippin’ Sidecar can reach a minimum of 500 people per event, at one event per month the brand could
reach at least 6,000 people throughout the year while also turning a profit from these events. This type of
exposure would cost hundreds to thousands of dollars in traditional marketing efforts.
Costs
• Event Vendor Cost: $50 per day • Drinks
• Supplies ⚬ Flavored Lemonades
⚬ Cups ■ $69.83 total for lemonades + favors + garnishes
■ Plastic 16 oz Cups: $49.99 for 1,000 cups ($0.05/ cup) ■ Sell at $5-$6 per cup, sell 14 lemonades to breakeven
■ Paper 12 oz Cups: $36.99 for 1,000 cups ($0.03/ cup) ⚬ Mock-tails
⚬ Napkins ■ $96.36 total for **Blackberry Virgin Mojito + Virgin Watermelon Margarita +
■ White Beverage Napkins: $11.99 for 4,000 garnish
• Travel ■ Sell at $7-$8 per cup, sell 15 to breakeven
⚬ Mostly local events so travel costs are minimum ⚬ Coffee, Tea, Hot Cocoa (seasonal)
⚬ Gas @ $2.10/ gallon, roughly 10 miles per gallon (average when pulling trailer), if ■ $23.73 total for coffee grounds+ tea bags + hot cocoa + creamer + sugar +
traveling 15 miles (30 round trip) garnish
⚬ Total cost: $6.30 (round up to $10) ■ Sell at $2-$3 per cup, sell 12 cups to breakeven
• Employee **Mock-tail ideas, can be altered

⚬ $10/ hour
TOTAL COST: $496.89
⚬ 6-8 hours *Important to note, most supplies will last through multiple events.
⚬ Total: $60-$80 Event cost will decrease after initial purchse.

• Brochure Printing
⚬ $0.74 per copy, 200 copies
⚬ Total: $148
Pricing

Flavored Lemonades: $5-$6

Mock-tails: $7-$8

Coffee + Tea + Cocoa: $2-$3


The Sippin' Sidecar would need to sell roughly 14 lemonades, 15 mock-tails, and 12 cups of coffee, tea, or cocoa to breakeven with costs. This would be more than
doable when being a vendor at a market with upwards of 10,000 attendees.
Bringing The Sippin' Sidecar to Markets around Tampa Bay (Cont.)
Market Exposure
If the Sippin' Sidecar had the opportunity to show itself to thousands of people per weekend, it will inevitably reach a consumer looking for this type of business to rent for
various parties or celebratory occasions. Using local markets as an opportunity to broaden the exposure of the business will not only act as a marketing tool, but also as a way to
make a profit in which you could use for more marketing thus creating an even broader reach.
This opportunity will give The Sippin' Sidecar and it's employees the ability to converse with customers and truly sell the business while they see it working live, in action.
Allowing the consumer to see the effort put into small details and the overall aesthetic of the brand will create a great first impression of the business. Setting up at local
markets a few times a year/ once a month will set The Sippin' Sidecar apart from it's competitors and will attract consumers in a way other businesses in this industry have not
been able to do. It creates a familiarity of the brand within a consumer's head that cannot be matched through traditional marketing strategies.

91.4
of survey takers found the aesthetic of
a business to be either moderately,
very, or extremely important

%
Word of Mouth Marketing
Word of mouth marketing is the main goal of this recommendation. In spreading the word about this new-to-the-world business and creating an impression in people's minds,
The Sippin' Sidecar will create an opportunity for local market consumers to tell their friends and family about the brand.

74% of consumers identify word of mouth as a key influencer in their purchasing 9 out of 10 of consumers believe suggestions from friends and family
decisions more than advertising, according to a Neilson Report
Bringing The Sippin' Sidecar to Markets around Tampa Bay (Cont.)

The Sippin' Sidecar would set up as they would for any


event, including seating and decor for consumers to take
pictures of and with.
Along with the seating and decor, signage will be put out
with a drink menu and how people can rent the bar if they
are interested.
Brochures and business cards will also be handed out to
both consumers purchasing drinks and anyone who is
interested in renting the bar.
Another possible aspect to go with this set up would be a
discount to customers who follow The Sippin' Sidecar on
Facebook and Instagram.
MENU + SIGNAGE EXAMPLE

The Sippin' Sidecar The Sippin' Sidecar


LEMONADE
RENT US FOR
ORIGINAL $5
A R N O L D PA L M E R
$5
YOUR NEXT
MANGO
S PA R K L I N G C H E R RY
$5
EVENT!
$5
COFFEE + TEA + HOT COCOA WE SPECIALIZE IN
$3 W E D D I N G S , PA RT I E S , O R
A N Y C E L E B R AT O R Y E V E N T.
M O C K TA I L S OFFERING FULL BAR
OPTIONS WITH
BL ACKBERRY "MOJITO"
B A RT E N D E R S I N C L U D E D .
$8
WAT E R M E L O N " M A R G A R I TA " I N Q U I R E AT T H E B A R .
$8
GRAPEFRUIT SPRITZER
$7 We hope to see you
soon!
BROCHURE
EXAMPLE
Contact Us
Phone: 813-909-5399
Email: info@thesippinsidecar.com
Instagram: @TheSippinSidecar
Facebook: The Sippin' Sidecar Mobile
Bar

The Sippin' Sidecar is here to make your event NOW BOOKING 2021-2022
vision come true. We tailor our services to what
you need in order to give you the best experience
The Sippin' Sidecar offers various
possible.
package options including:
Book The Sippin' Sidecar
for any event you have in mind: Beer & Wine
Weddings, Birthdays, Holidays, or any
Signature Cocktails
Celebratory Event!
Dry Events
Mocktails
R E C O M M E N D AT I O N T W O

Social Media Enhancement + Search Engine Optimization


The Sippin’ Sidecar should invest in online marketing resources such as Google, Facebook, Instagram, and
Pinterest in an attempt to reach a more broad consumer base and gain brand awareness. Through enhanced
brand awareness The Sippin' Sidecar will be able to focus on gaining quality ratings and reviews on sites
like Google and Yelp, and use those as a source of credibility on the home page of their website. Having
strong reviews that potential clients have access to can have the same impact as word-of-mouth advertising
in many cases. It is a good idea to maximize the amount of positive feedback you display to make potential
clients feel more comfortable when making the decision to work with you.
It is recommended that The Sippin' Sidecar invests in social media advertising on Facebook, Instagram and
Pinterest over a 12 week duration in an effort to increase follower counts across these three platforms and
brand awareness overall. Not only will these platforms be used for paid advertisements but it will also be a
space for customer interaction and creating a relationship with your potential clients.
Along with increasing social media advertisements, it would be beneficial for The Sippin' Sidecar to
encourage clients to give reviews of the brand on sites such as Google and Yelp in an attempt to increase
search engine optimization. This could be achieved through promotions and discounts granted to customers
in future business endeavors when they rate and review their experience online.
Social Media Enhancement + Search Engine Optimization (cont.)
Social Media Enhancement

Instagram
In March of 2017, over 120 million Instagrammers visited a webise, got directions, called, emailed or direct messaged a business to learn more about it after seeing an Instagram ad.

60% of people say they discovered new products on Instagram. 75% of Instagrammers take action after being inspired by a
post.
*Instagram's audience is divided mainly between the age ranges of 18-29 (55%) + 30-49 (28%)

Facebook
It is easy to manage advertisements through both Facebook and Instagram, due to both these platforms being owned by the same company. This means that demographic data is
easily transferable and reaching customers of a certain segment, i.e. age, gender, relationship status, etc. is accessible. Both Facebook and Instagram are also scalable in terms of
what you are paying to the amount of advertising you receive- it's reach, duration, and frequency. Being able to specify the ad schedule will also reduce wased time amd money
spent on advertising during inactive platform performace.

Pinterest

44.8 75%
of survey takers listed Pinterest as their
of Pinners say they're "very interested"
first source of inspiration when
in new products.
planning an event.

The number of active advertisers on Pinterest doubled in 2019.

%
This type of spike speaks volumes of the effectiveness of Pinterest ads- according to Hootsuite.com,
average revenue per user (ARPU) went up in 2019, too. Up 15% from 2018, ARPU grew to $1.22
last year.
Pinterest (cont.)
In 12 months, Pinterest grew by Advertisers can reach over
Pinterest is also very useful
70 million users, 169 million people in SEO as tagged pins can be
the site now has over 335 million users total. on Pinterest brought up through google
searches. Potential clients
could see The Sippin'
Sidecar's "pins" and from
there could find other social
media platforms or even the
83% of Pinners have made purchases based on brand content. home website.
Pinterest's paid advertising can be specified by location, making it a valuable tool when trying to reach new customers in a specific
area.
Pinterest's user base is primarily 25-34 year old women, which is part of the target market we are catering
towards.

Increasing Business
Reviews

87% 92%
of potential customers won’t consider of consumers read online reviews of local
businesses with low ratings, according businesses in order to determine whether these
to Search Engine Land. businesses are good or not.

If clients are given a complementary service such as a free champaign toast or free decor options at their event when they agree to leave an honest review, they would naturally
be more willing to review their experience and thus create a more reputable online presence for
The Sipin' SIdecar.
It is free to set up an account on Yelp + Google.
Google also provides complementary tools such as the Google Search Console.

63.9
of survey takers said they would be
more willing to review a business/
refer a friend if incentivized to do so.
Social Media Enhancement + Search Engine Optimization (cont.)

Facebook Ad Mock-Up Instagram Ad Mock-Up Pinterest Ad Mock-Up


Social Media Enhancement + Search Engine Optimization (cont.)

Mock email created to visualize how The Sippin' Sidecar could ask clients to
rate + review their experience of Google + Yelp.
R E C O M M E N D AT I O N T H R E E

Co-Branding Partnerships

It is recommended for The Sippin’ Sidecar to consider co-branding partnerships with other event services.
The Sippin’ Sidecar and other businesses could create a package deals and introduce clientele to non-
competing companies creating a mutually beneficial relationship. This co-branding endeavor could
include partnering with photographers, caterers, event venues and more. With this partnership, clients
could be offered various discounts/incentives when booking multiple service together. These discounts
enhance the customer’s experience and makes the planning process easier. Co-branding allows each
company to enjoy double exposure through leveraging each other’s audiences. It is recommended to
consider business with good brand imaging, similar audiences and similar marketing goals. Each
company should share a common thread or complimentary link.
Along with partnerships of other event services, it would be beneficial for The Sippin' Sidecar to create a
co-branding endeavor with Florida and Tampa Bay based bloggers on various online platforms. This
partnership would enhance brand awareness through a trusted source directly targeting our clientelle.
Co-Branding Partnerships (cont.)

1 in 4 survey takers are interested in event service package deals


based on a survey of over 100 people, but we estimate this number would increase to almost 33% once clientele are presented with
the savings and ease of planning.
There are many successful co-branding examples in which both parties mutually benefited each
other in reaching a broader audience, demonstrating their capabilities GoPro & Red Bull helped
deliver a new perspective, specifically the athlete’s perspective while demonstrating the
While brands may be capable of reaching capabilities of the go pro product. Kanye and Adidas : Adidas' co-branding relationship with
basic targets all on their own, pooling
marketing resources, combining skill sets,
Kanye and the resulting cult-like Yeezy following led to a stellar year for the company: in 2019,
and jointly creating campaigns with other Adidas' net income climbed 19.5% to $1.9 billion (Bernazzani, 2020).
non-competing companies could help reach
much broader audiences (Bump, 2020). Example
Established businesses that agree would
bring traffic and aid or even speed up the BMW + Louis Vuitton s Apple + MasterCard
early startup/growth phase. Consider other
companies in similar phases (startup/growth Starbucks + Spotify Airbnb + Flipboard
phase) as they may be more willing to
partner with The Sippin' Sidecar. Along with partnering services, The Sippin' Sidecar could create relationships with various event
service businesses to prompt recommendations and share business cards, flyers, etc at their
locations.
Co-Branding Partnerships (cont.)

Teaming With Florida/ Tampa Bay Based Bloggers

Businesses are making


$5.20
for every $1 spent on influencer marketing.
In the case of John Lewis, a clothing retailer, they
This could be translated to The Sippin' Sidecar
began with a six week campaign working with
working with local and statewide influencers who
multiple top British fashion bloggers aimed at
have audiences that are impressionable and looking
informing women 25-34 about their upcoming
for the next "big thing." Partnering with online
fall/winter clothing line. Over this time period of
bloggers would ultimately increase the amount of
advertising on Instagram they saw an increase of
people being exposed to the brand and would appear
10,000 followers and a 14x increase in purchase
as an authentic way to gain exposure.
intent and it became a quarterly advertising campaign
for theThe
Because company.
Sippin' Sidecar is a beverage service, it would be optimal to work with food bloggers.

63%
of marketers intend to increase their
influence marketing budget in the next
year.
Co-Branding Partnerships (cont.)

Flyer to be distributed to partnered businesses

Planning your next event?


The Sippin' Sidecar
can provide you with all your beverage + aesthetic needs!

The Sippin' Sidecar offers various


package options including:
Beer & Wine
Signature Cocktails
Dry Events
Mocktails

Contact Us
Phone: 813-909-5399
Email: info@thesippinsidecar.com Add a section to the home page of The Sippin' Sidecar's website titled
Instagram: @TheSippinSidecar
Facebook: The Sippin' Sidecar Mobile "Co-Branding Partnerships"
Bar
Special offers available if referred to by where customers can click to learn more information about package
a friend or business!
deals and what other companies are available to combine services and
recieve discounts. This section could be available to the public or
NOW BOOKING 2021-2022 could be a broad overview of what the package deals look like, and
they must inquire to learn more about specific pricing + discounts +
options available.
Co-Branding Partnerships (cont.)

Influencers could be contacted by The Sippin' Sidecar and asked if they would want to do a photoshoot
with the Bar Cart in exchange for Instagram posts tagging The Sippin' Sidecar.
REFERENCE
S Blog, blog.hubspot.com/marketing/best-cobranding-partnerships.
• Bernazzani, Sophia. “21 Examples of Successful Co-Branding Partnerships (And Why They're So Effective).” HubSpot
• Bump, Pamela. “20 Stats That. Make the Case for Co-Marketing in 2020.” HubSpot Blog, 23 Sept. 2020,blog.hubspot.com/marketing/co-marketing-stats.
• The Complete Guide to Advertising on Instagram. www.wordstream.com/blog/ws/2017/11/20/instagram-advertising.
• Does Facebook Advertising Work? [DATA]. www.wordstream.com/blog/ws/2016/01/25/does-facebook-advertising-work.
• “11 Wedding Venue Marketing Tips to Increase Bookings.” 11 Wedding Venue Marketing Tips to Increase Bookings | Cvent Blog, 23 July 2020, www.cvent.com/en/blog/hospitality/wedding-venue-marketing.
• “2020 Wedding Report.” WeddingWire, go.weddingwire.com/newlywed-report.
• Meredith, Alisa. How to Use Pinterest to Connect With a Local Audience. 21 Jan. 2019, www.socialmediaexaminer.com/how-to-use-pinterest-to-connect-with-a-local-audience/.
• “Millennials and Beyond.” Deloitte Insights, www2.deloitte.com/us/en/insights/topics/marketing-and-sales-operations/millennials-x-z-beyond-generational-marketing-consumer-profiling.html.
• “Newswire: Consumer Trust in Online, Social and Mobile Advertising Grows.” Nielsen, 4 Nov. 2012, www.nielsen.com/us/en/insights/article/2012/consumer-trust-in-online-social-and-mobile-advertising-grows/.
• “Population Trends IN USA, FLORIDA AND MIAMI-DADE COUNTY Sources: US Census Current Population Estimates 2010-2016.” Https://Metropolitan.fiu.edu/, 2016, metropolitan.fiu.edu/research/periodic-
publications/hot-topics/population-trends-millennial-edition-2016-1.pdf.
• Premier Bartending Service (n.d.). Retrieved November 22, 2020, from http://www.premierbartendingservices.com/rates.html
• “The Average Cost of a Wedding in 2020: The Ascent.” The Motley. Fool, 2 Sept. 2020, www.fool.com/the-ascent/research/average-cost-wedding/.
• “US population by Age and Generation in 2020.” Knoema, 16 Apr. 2020, knoema.com/infographics/egyydzc/us-population-by-age-and-generation-in-2020.
• Jankowski, Paul. “Which Group Of Millennials Are You Targeting?” Forbes, Forbes Magazine, 9 May 2018, www.forbes.com/sites/pauljankowski/2018/05/09/which-group-of-millennials-are-you-targeting/.
• Olya, Gabrielle. “How Much Millennials Earn in Every State.” Yahoo! News, Yahoo!, 10 Apr. 2020, news.yahoo.com/much-millennials-earn-every-state-090000671.html?guccounter=1.
• Rampton, John. How Online Reviews Can Help Grow Your Small Business. 31 May 2017, www.forbes.com/sites/johnrampton/2017/05/31/how-online-reviews-can-help-grow-your-small-business/?sh=47ee8894737b.
• Rosenberger, Raashi. “Wedding Planning Gets Personal on Pinterest.” Pinterest Business, 13 Mar. 2017, business.pinterest.com/en/blog/wedding-planning-gets-personal-on-pinterest.
• Salchert, Ryan, and Brendan Ward. “Tampa Is among the Best Florida Cities for Millennials, Study Says.” Bizjournals.com, 19 Sept. 2019, www.bizjournals.com/tampabay/news/2019/09/30/tampa-is-among-the-best-florida-
cities-for.html.
• Sardone, Susan Breslow. “How Well Do You Know Wedding & Honeymoon Facts and Figures?” Brides, www.brides.com/wedding-statistics-and-honeymoon-facts-1860546.
• Sawyer, Katie. “Millennial Event Trends You Shouldn't Ignore.” Eventbrite US Blog, 12 Dec. 2019, www.eventbrite.com/blog/the-most-important-millennial-trends-you-shouldnt-ignore-ds00/.
• Seaver, Maggie. “This Is the National Average Cost of a Wedding.” Theknot.com, The Knot, 14 Feb. 2020, www.theknot.com/content/average-wedding-cost.
• Sims, Maddy. “Here's How Much the Average Couple Spends on Alcohol for Their Wedding.” Theknot.com, The Knot, 26 Nov. 2018, www.theknot.com/content/average-cost-wedding-alcohol.
• Warren, Matt. “Word of Mouth Marketing in 2020: Effective Strategies + Examples.”The Big Commerce Blog, 2 Mar. 2020, www.bigcommerce.com/blog/word-of-mouth-marketing/.
REFERENCE
• Target Market Photographs: S
⚬ Distel, A. (2019) Available at: www.distel.com. (Accessed 27 October 2020).
⚬ Yehia, O. (2018) Available at: https://unsplash.com/photos/toCKeKuQpL0. (Accessed 27 October 2020).
⚬ Christina. (2019) Available at: https://unsplash.com/photos/kXmKqYOGA4Y/info. (Accessed 27 October 2020).
• Various Digital Graphics:
⚬ https://www.canva.com/
• Competitive Landscape Images
⚬ Sipping Nomads: https://www.sippingnomads.com/
⚬ The Tipsy Trotter Mobile Bar Co: https://www.thetipsytrotter.com/
⚬ Seaboard Mobile Bar: https://www.seaboardmobilebar.com/packages
⚬ Bubble Buggi: https://www.bubblebuggi.com/
⚬ Hub Tap Mobile Event Co: https://hubtap.com/
⚬ Bubbles & Brews: https://getcozybars.com/

You might also like