Sriracha Presentation
- 1. By: Jake Frye , Nichole Buchanan , Max McManus, and Linda Wang Social Media Marketing Fall 2014 November 13, 2014 #HowDoYouSriracha Social Media Strategy
- 2. FIRST... WHAT’S IN SRIRACHA? Ingredients: Chili, sugar, salt, garlic, distilled vinegar, potassium sorbate, sodium bisulfite and xanthan gum Sources: Take Part, Bon Appetit Mag,
- 3. A LITTLE BACKGROUND... Sources: Angry Asian Man Blog, BusinessWeek, LA Mag Founder: David Tran Where: Los Angeles Company: Huy Fong Foods, Inc. Other Products: Pepper Sauté Sauce, Chili Garlic Sauce, Fresh Ground Chili Paste and of course, Sriracha
- 4. His dream, Tran tells Quartz, “was never to become a billionaire.” It is “to make enough fresh chili sauce so that everyone who wants Huy Fong can have it. Nothing more.”
- 5. THE CURRENT DIGITAL SCENE • Facebook? • Instagram? • Twitter? • Pinterest?
- 6. THE CURRENT DIGITAL SCENE Huy Fong Foods current website. (Nov 10, 2014). Their Twitter asking for help on a revamp (Oct 29, 2014).
- 8. CONDIMENT MARKET • Source: EuroMonitor “I had no idea Americans would ever even eat spicy food” -David Tran
- 9. DEMOGRAPHICS / OUR TARGET MARKET • Millennials and immigrant population expected to drive further demand in ethnic cuisine (IBIS World) • 5% rise in immigrant population from 40 years ago to a 13% rate today (Migration Policy Institute) • Changing the taste buds of American consumer by introducing spicy dishes (“Sriracha: Tops for Millennials”) • Psychographics (lifestyle)
- 10. OUR GOALS AND OBJECTIVES I. Grow the number of followers from our new Sriracha social media platforms A. Begin promo tweets/posts Jan 15 B. Increase 50% in followers by June 15 II. Generate brand excitement through use of Sriracha A. Increase exposure of brand 40% within Y1 III. Generate sustained sales of Sriracha and related branded goods A. From awareness from social media activity, aim for $25k/$40/$75k in sales for next 3 years
- 12. NEW WEBSITE • The last update for the official company website was back in May of 2004! • We recommend a website face-lift in order to attract and engage more users who will visit and stay on the site for more than 10 minutes at a time. • An estimate of cost associated with hiring 720 Media to create the new website will come to around $3,000.
- 13. TWITTER • Main platform for communication with our users • Introduce new Twitter @SrirachaOfficial to world using a promotional tweet. • 18-24 demographic • Creation of scheduled weekly posts focusing on a different theme each day of week (#SrirachaRecipeFridays) • News/collaborations about Sriracha within internet (Ex: Pizza Hut, Taco Bell new menus feat. Sriracha) Source: IB Times
- 14. YOUTUBE • Main unique content source • 3 different series will include: A. 1-2 videos a month in our cooking series feat. professional chefs B. In-house Sriracha recipe ideas using inexpensive ingredients C. User-submitted ideas to increase consumer involvement (Will involve prizes – Sriracha themed product, Sriracha in bulk, coupons, etc.) Sources: Neurotic Kitchen blog, Bon Appetit
- 15. INSTAGRAM • Used for posting interesting native content that pertains to Sriracha brand • Posts that will give sneak peaks of filming of our YouTube videos, and any other production processes feat. Sriracha sauce
- 16. PINTEREST • “The Roots & Creator” • “Rooster Sauce Gear Here” • “Leftover Luncheon” • “What an Odd Mix” • “In Costume” Exhibit A: Baked Sriracha BBQ Tofu from Leaf & Grain Food blog Exhibit B: Creative use for Sriracha – from Aloha Lollipops Exhibit C: Sriracha iPhone case from Werd Exhibit E: A young David Tran Exhibit D: Sriracha attire for party wear.
- 17. #HOWDOYOUSRIRACHA • Listening to our target market... Exhibit 1. Mentions of “Sriracha” on Twitter platform.
- 18. #HOWDOYOUSRIRACHA • Buzz generation • Content creation • New customers, word-of-mouth • Cross-platform Campaign – Twitter, Instagram, YouTube, Pinterest, Facebook with #HowDoYouSriracha • New website will show dashboard feat. #HowDoYouSriracha social media content and special features
- 19. METRICS: MONITORING & MEASURE OUR SUCCESS • Key Performance Indicators A. Conversions through coupons & short term promotions B. Website and social media traffic measures C. Increase in sales and profits • Hoot Suite platform for measuring ROI
- 20. METRICS: MONITORING & MEASURE OUR SUCCESS • “Attraction Phase” • “Loyalty Phase” • “Evangelism Phase”
- 21. CONCLUSION • Our ongoing social media strategy utilizing our newly created Twitter, Instagram, YouTube and Pinterest will help better organize and direct fans to engage and have a place to voice their ideas. • #HowDoYouSriracha Campaign will expect to bring the ever popular hot sauce into the mainstream and generate content for our channels and get people think about Sriracha in a whole new way.
- 22. SOURCES Bossenger, Autumn. "How to Use Pinterest Messages for Marketing |." Social Media Examiner RSS. N.p., 24 Aug. 2014. Web. 10 Nov. 2014. "Company Information." Huy Fong Foods. N.p., n.d. Web. 10 Nov. 2014. Ferdman, Robert. "The Highly Unusual Company behind Sriracha, the World’s Coolest Hot Sauce." Quartz. N.p., 21 Oct. 2013. Web. 10 Nov. 2014. Hannan, Caleb. "Sriracha Hot Sauce Catches Fire, Yet 'There's Only One Rooster'" Bloomberg Business Week. Bloomberg, 21 Feb. 2013. Web. 10 Nov. 2014. Isaac, Leo. "Goals and Objectives." Strategic Planning. N.p., n.d. Web. 10 Nov. 2014. Monlos, Kristina. "Brand of the Day: The Strange Story Behind Sriracha's Iconic Rooster Logo." AdWeek. N.p., 20 Oct. 2014. Web. 10 Nov. 2014. "Sriracha: Tops For Millennials." Restaurant Hospitality 98.9 (2014): 28-30. Business Source Complete. Web. 6 Nov. 2014. Staines, Rupert. "How to Run a Successful Online Marketing Campaign in a New Social Environment." - Marketing How To Guides. N.p., 12 Mar. 2012. Web. 10 Nov. 2014.