Account strategy is essential to success. Knowing which accounts to target and how your brand can succeed within those accounts will help you narrow down your focus and help ensure that you are spending your budget and time in the right place and the most effective way.

Step One: Create a Winning Account List:

1) # of Accounts: An excellent number to start with is 25-30 accounts. The theory is to go deep before you "go wide." A smaller number of accounts can help build relationships that matter and move products. This list will change over time as you see which accounts the brand thrives in or as new locations open. 

2) Winning account list factors. Each of these factors will determine which types of accounts should be included in your list:

• Target consumers: Your target consumers' age, income, career, and interest will determine what accounts they spend their time in and why they go there. Knowing this lets you narrow your account list to places they most frequently visit. i.e., 25- 27, living in the city, making 75k a year, likes going out for drinks is not likely to be found at Eleven Madison Park, but they would be found at a Dante ($23 cocktails)1- 2x a month but most likely spends their time at places such as Mothers Ruin ($15 cocktails) 3-4x nights a week.
  
  
• Price point: Is the pricing of your product put into the premium category or a super premium category, or is it considered a discount brand? Pricing will determine what type of accounts can afford to purchase your product and sell it at a profit to their clientele. It will also determine if it is considered on par with the account's image. i.e., A whisky that sells for $10.99 in a liquor store would not be the right fit for a Michelin-star restaurant whose clientele is spending $30 per cocktail.
• The ideal account can afford to put your product into a cocktail or on the back bar and has a clientele who can afford to purchase and appreciate it.
  
  
• Unique Selling point: What type of account will appreciate your brand's unique selling proposition (sustainability, woman-owned, organic, etc.)? Put these at the top of the list.
  
  
• Connections: Where do you know people? These accounts are considered the low-hanging fruit. But before you put them on the list, please ensure the brand fits the establishment. Force a brand into an account that is not the right fit is an easy way to damage relationships.
  
  
• The Account Type: Bars and restaurants can be grouped into four categories: Prestige-Volume, Prestige-Cocktail Bar, Casual Prestige, and Casual Dive. Your brand's target consumer, price point, unique selling point, quality level, and marketing goals will determine which of the four types you belong within.

This video speaks to the different types of accounts that will make up your account list. ( one correction to the video: I mention on and off-premise accounts, but this video only discusses the on-premise)

ACCOUNT TYPES

Prestige -Volume Accounts:

These accounts are made up of fine dining establishments and luxury hotels. Because they may have multiple locations, they can order a substantial volume. These are great accounts for building brand awareness and doing substantial volume.

Examples: 

Hotels/Fine Dining: Luxury Hotel bars, i.e., The Edison

Fine Dining, i.e., Eleven Madison Park 

Products they prefer: 

• Well-known brands by not common or artificial. ( for example, they may carry a Johnnie Walker Blue, but they will not take flavored vodka or energy drinks, etc.)
• Luxury products, i.e., Hennessy Paradis
• Authentic to the category. i.e., Lairds Bonded Applejack
• Esoteric with a unique brand story
• Of excellent quality
• A competitive price 

Clientele: 

• Mixed between:
  • High-end consumers and those seeking a once-in-a-lifetime experience or wanting to celebrate a night out. 

Prestige-Cocktail bars:

Price points are on the high end; the clientele is generally over 25 years old, likes to be in the know & appreciates cocktail experiences. The cocktails and bar are press-worthy, and the staff is typically well-educated and very particular about what products are carried behind the bar. They can do a substantial volume, but their size limits how much is possible). In addition to consumers, trade and press visit to discover what is trending in cocktails and brands. These are great accounts to build brand awareness, and in the correct size account, you can also do substantial volume.

Examples:

Cocktail bars: Katana Kitten, Dante, Kumiko, Julep, ABV, Mace etc

Casual- prestige

The price points are mid-tier, and the product offering tends to be premium to premium plus. The cocktails are well made but at a different level than a Prestige account. The food is elevated comfort food, and the atmosphere is lively but casual.

The talent behind the bar will range, but most will be good at making cocktails and are educated on spirits.

Examples: 

Gastropubs, i.e., Mothers Ruin, high-end sports bars 

Products they prefer 

• Well-known name brands, i.e., Ketel One, Jack Daniels, etc., will take in smaller brands if they are of good quality & fit their image. 
• Fun, trendy brands: i.e., fireball, screwball whisky, flavored vodka
•  The lower price point to the mid-tier range

Their Clientel: 

• Generally between 21 to 35 and looking for a fun night out. 
• They like group experiences (pitchers of drinks)
• Prefer cocktails at the right price ($8-$15 depending on the location)
• Cocktails should not be obscure; the drinks should use ingredients that customers are familiar with.
• They stick to the brands they know unless they use an unknown brand in a cocktail with ingredients they know.
• Drink Hi-energy shots 
• Drink Frozen cocktails

Casual Dive

Many amazing bartenders can be found behind these bars. Price points are rock bottom to mid-tier; consumers tend to stick to brands they know. They serve a lot of beer and shots. The talent behind the bar can range when it comes to cocktail making and spirit knowledge. Never talk down to the staff. 

Examples: Sports bars, dive bars, neighborhood joints

Products preferred: 

• Well-known name brands that range from inexpensive to mid-tier pricing, i.e., Jack Daniels, Johnnie Walker
• Fun, trendy brands: i.e., fireball, screwball whisky, flavored vodka
• products in the well tend to be value brands. 
• The lowest price point to mid-tier 

Customers: 

• Range from 21+ to mid-40s. 
• They generally drink beer, shots, and cocktails such as Tequila soda.