Success Stems from Trial and Error | Caroline Cotto | Renewal Mill
Honest Ecommerce
· with Caroline Cotto
· September 25, 2023
· 20 min
Summary
Renewal Mill, co-founded by Caroline Cotto, tackles food waste by upcycling manufacturing byproducts into new food ingredients and products. This episode reveals how they built a B2B ingredients business alongside a B2C brand to generate short-term revenue and build market awareness for upcycled foods. Ecommerce operators can learn how to leverage direct-to-consumer channels to support longer B2B sales cycles and validate novel product concepts.
Key takeaways
Leverage a B2C direct-to-consumer model to validate novel product ingredients and generate short-term revenue while pursuing longer B2B sales cycles.
Actively engage with potential B2B partners by bringing product samples made with your ingredients to demonstrate ease of use and benefits, rather than just sending unknown ingredients.
Recognize that introducing a novel ingredient or product category requires significant consumer education and awareness building to drive demand.
Utilize partnerships strategically for driving website traffic, but be aware that they can also present significant challenges to manage.
Tailor brand messaging to resonate with what customers genuinely care about, even if it differs from the brand's core advocacy.
Interview customers to understand their online and offline habits and tailor marketing efforts accordingly.
Develop physical retail presence for impulse buyers, and use limited-time offers to convert them into loyal customers.
Clearly communicate your Unique Selling Proposition (USP) and how it benefits the customer; for Renewal Mill, this is their upcycling process.
Be prepared for a long product development and commercialization timeline, especially when dealing with new technologies or supply chains.
Consider building industry associations and certifications (like the Upcycled Food Association) to build credibility and drive awareness for a new product category.
On this episode of Honest Ecommerce, we have Caroline Cotto. Caroline Cotto is the Co-Founder & COO of Renewal Mill, a company that helps fight food waste by upcycling byproducts into nutritious flours and delicious plant-based products.
We talk about upcycled food for eco-conscious millennials, challenges of being new to the B2C business, workarounds when introducing an unfamiliar product, and so much more!
Frequently asked about this episode
What does this episode say about dtc strategy?
Leverage a B2C direct-to-consumer model to validate novel product ingredients and generate short-term revenue while pursuing longer B2B sales cycles.
What does this episode say about brand & content?
Actively engage with potential B2B partners by bringing product samples made with your ingredients to demonstrate ease of use and benefits, rather than just sending unknown ingredients.
What does this episode say about supply chain & operations?
Recognize that introducing a novel ingredient or product category requires significant consumer education and awareness building to drive demand.
What does this episode say about finance & fundraising?
Utilize partnerships strategically for driving website traffic, but be aware that they can also present significant challenges to manage.
What does this episode say about dtc strategy?
Tailor brand messaging to resonate with what customers genuinely care about, even if it differs from the brand's core advocacy.
