M.Sc. Kara Smith: Branding in Beef Market | Ep. 45
Oct 4, 2023
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Guest Kara Smith, known for boldly redefining the beef business, discusses founding Colorado Craft Beef, the challenges of traditional industry, marketing strategies, and meat quality. She also emphasizes the importance of customer empowerment, adapting to market changes, and setting up the ranch for future generations.
Colorado Craft Beef focused on letting customers be the heroes of their own story, providing an outstanding beef product that enhances their lives.
Colorado Craft Beef challenged traditional practices in the beef industry and incorporated business and marketing strategies to create a successful branded beef business.
Deep dives
Building a Brand That Puts Customers First
Colorado Craft Beef was founded with the mindset of letting customers be the hero of their own story. The co-founders wanted to provide an outstanding beef product that enhances customers' lives. They focused on building the brand and investing in the business side before selling any beef. The COVID-19 pandemic brought a shift in consumer buying habits, leading to increased demand for direct-to-consumer beef. Colorado Craft Beef capitalized on this trend, and their partnership with like-minded businesses and influencers helped them penetrate the market and establish themselves as a premium brand.
Taking Unconventional Approaches to Succeed
Colorado Craft Beef chose to think outside the box and challenge traditional practices in the beef industry. They wanted to understand why they were doing certain things and find new ways to succeed. By incorporating business and marketing backgrounds into their approach, they were able to go against the grain to create a successful branded beef business. This mindset brought its challenges, as not everyone was supportive, but they were determined to make a difference and avoid simply doing things the way they had always been done.
Crafting a Supply Chain and Marketing Strategy
Colorado Craft Beef partnered with cow-calf suppliers, ensuring a consistent supply of high-quality cattle. They built their brand by investing in branding and marketing efforts before selling any beef. Influencer marketing and collaboration with businesses in the direct-to-consumer space helped them reach their target audience effectively. They focused on marketing to consumers who valued quality beef, particularly the barbecue community. By positioning themselves as a premium brand, Colorado Craft Beef successfully differentiated themselves in the market.
The Importance of Grit in Agriculture
Grit is a trait that the co-founder admires, especially in her dad, who epitomizes it. In agriculture, having grit is crucial for overcoming challenges and persisting through difficult times. It is a trait that she believes is essential for success in the industry.
Responding to the call of the beef industry, our guest, Kara Smith, has ventured into new territories, leaving no stone unturned and boldly redefining what it means to be involved in the beef business from production to retail marketing. In this episode, Kara provides an in-depth insight into her journey, founding Colorado Craft Beef and inspiring an unconventional and trail-blazing trajectory in this livestock industry. She also shares the journey of tweaking strategies motivated by client needs and teaching the concept of "succeeding unconventionally" within their workspace.
โLet's let our customers be the heroes of the story. We're the guide. So let's figure out how our customers can be the heroes, and how we can provide them with an outstanding beef product that helps them live their lives to the fullest.โ - Kara Smith
What youโll learn:
(00:00) Highlight
(01:42) Introduction
(04:35) Founding a beef business: Colorado Craft Beef
(08:00) The mindset of approaching beef industry as a business
(11:09) Business model of Colorado Craft Beef
(14:17) Food supply during the pandemic and customer trust
(19:19) Challenges and risks in a traditional industry
(23:19) Meat quality and choice
(25:03) Livestock operations
(27:18) Marketing strategies and approaches
(30:52) Personal life and other family business involvements
(34:05) The three final questions
Meet the guest: Kara Smith, M.Sc.
Experience
Current: Co-founder at Colorado Craft Beef and owner at Double Slash N Enterprises
Past: Assistant Professor at the North Carolina State University