March 1, 2022 • 13 mins
Ingrid shares her insider knowledge about grants and funds available to help and support black and brown brands.
Additionally, Ingrid provides her advice on how much a new business should allocate for marketing.
Host IG: @itstanyatime
Guest IG: @ms_ibest
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hey Money Movers, Welcome back to Money Moves, the daily
podcast determined to give you the keys to the kingdom
of financial stability, wealth and abundance. Hey money Movers, Welcome
back to the Money Moves podcast powered by Greenwood. Our
(00:22):
next guest is breaking barriers and changing perceptions of women
of color in the spirits is industry across the whole
entire world. She is a Global Head of Marketing Spirits
at Combs Enterprises. She has worked with some of the
biggest brands in the spirit industry, including Diaggio, Hennessy, Bacardi
and now of course Siroc and Delhi. On Money Movers,
(00:42):
please welcome the marketing powerhouse. Ingrid, best to the podcast.
Thank you so much. It's so good to be here.
Thank you so much, Taniel. That was that was a
great intro. Girl. I'll take it. I'll take all that, so, Ingrid,
you know what Sean has done for the liquor and
spirits industry and yourself as well. Um, you know, I
can't help but think in the wake of the social
(01:04):
justice movement UM with Black Lives Matter, we've also seen
a rise of more black owned spirits and liquor brands.
UM do you think that's coincidence or is this just
now is more of our time? And do you think
we'll see more of them? Such a such an incredible
question and one that just gives me goose bumps. Right,
(01:26):
There's been many black own brands that have launched black
and brown Black and brown own brands that have launched
that oftentimes just don't have the financial backing, the support right,
the marketing engine behind them. So it's it's not a
new thing. I think that more and more, like all brands,
(01:48):
people are paying attention, much more attention to what's by us, right,
and so you know, you have brands that are literally
changing the game, black owned brands that are changing the game.
I mean Delhione is one of those brands that has
changed the game right Like Mr c Uh I call
(02:09):
him Mr c Mr colmbs um On. He you know,
he predicted the intersection between tequila and culture, right, and
and there's so many brands that have been able to
do that. I think about Fawn Weaver right with Uncle
near Us. She's a tremendous force. She's doing tremendous work
and she's not new, right, she she has been someone
(02:30):
that has been on the ground for a very very
long time. There's something that I really want to share
with everyone that's watching this. Companies are finally investing in
brands in brand development from black and brown people, and
there are some incredible ideas. There are a lot of
(02:52):
ideas that are kind of behind the scenes that are
kind of taking shape and form. It's a lot of
what um you know, didd He has kind of pushed,
you know, the industry to like, you gotta give us
a shot. We doolings in the space of spirits brands,
and so you're starting to see that much more. What
I can tell you is people should do their research.
(03:14):
There's a lot of funds that exist right, grants and
funds and investments that companies are making to help people
start their brands, to help people bring their brand their
brand ideas to life. And so I encourage folks to
really look at some of the large suppliers. You know,
our partner Diageo made a huge commitment most recently, along
(03:37):
with several other large suppliers to really really get behind
brands that are owned by black and brown people. And we,
of course at Comb's Enterprise, we are certainly um on
the grind to do some some some more cool things
in the space of spirits. So yes, lots of cool
brands that it currently exists, that are up and coming
(04:00):
that will launch soon. But there's also you know, money
sitting out there for people who may have ambitions to
launch spirits brands. And you know this I love because
obviously you know that period the past two years have
been really difficult for so many of us. You know,
we we definitely injured a lot. But I do think
(04:20):
there's a small silver lining that comes out of that
where there is money available to black and brown entrepreneurs,
not just in the tech space, but also in the
CpG space, and people really have to do their research
and go digging for it. It's not easy. No one's
just giving it away like it's sitting on the sidewalk.
But like you said, there's a lot of ally ship
and there's a lot of grants and funds out there,
(04:42):
I think to support new entrepreneurs who are trying to
break into CpG the spirit industry. So thank you for
saying that, because I think I don't think people realize
like there is platforms out there that really want to
support the development of business and brands and entrepreneurship absolutely
and again you just have to you gotta go digging.
(05:03):
You got and we'll tell you a lot of companies
made pledges um last year and we need to hold
them accountable. And the only way that you can hold
them accountable is to be in their face. And so
you know, super important to hear me people there are
there are resources available. You have to just go out
and find what those resources are. Do your research. There's
(05:26):
been tons of announcements about them. But you also need
to be prepared. I'm prepared if you have it can't
just be I have an idea, Okay, that's cool, but
you need to come prepared with with an idea that
that you've really done your homework, that thank you for
show up for the meeting, show up, show up for
the assignment, show up for and you know what. Over
(05:46):
prepare over prepared. You've been in this industry forever. It
is about being over prepared. Knowing your market, knowing your
target audience, knowing all the specs of like your entire
financials for your so that there is nothing that anyway.
I mean basically, people need to walk away going. Man,
we want to give you some money because you are
amazing over because you you are amazing you. You you
(06:09):
fit here. You you know we want to fund you. Yes,
so yeah, come prepared. I mean, you know, certainly this
is a big business that I'm in, The Spirits businesses,
big business, lots of you know, annual revenue tied to
the Spirits business. So, you know, my I encourage anyone
who has a passion for this business to do the research.
(06:32):
There are resources that exist and again even at homes.
I mean, for me, employing seven black women is my
way to invest back into this industry and invest back
into them. They may one day have aspiration to launch
their own brands, right and this is a platform for
them to do that, a springboard for them to do that.
(06:54):
So yes, there are resources out there for us. So,
you know, we talked a little a bit about some
marketing tips and tricks and obviously COM's enterprises and what
you have. You have a pretty big and significant marketing budget.
You guys have been veterans in the game for a
long time, but oftentimes people will ask questions about how
much should I allocate of our overall budget to marketing
(07:19):
in when you're you know, marketing to a consumer. Is
there a blueprint for it? Is there a finite number? Yeah?
You know, I'm gonna tell this story. I remember years
ago I had someone a friend of mine, DJ friend.
He said, I want you to be my manager, and
I was like, huh, out flattered, and but then I
(07:40):
took a second to answer back, and I said, well,
I'm gonna be really honest with you. You're doing well,
but I don't know if you have something to manage yet.
And what I mean by that is like, are you
ready to start sharing your money? Are you at a
point where you can't do this yourself? And I only
I only use that example to say it's very easy
(08:04):
for me to say of your AOP, of your annual
operating budget should go towards marketing, because that is the
seat that I'm in. Yes, but but you you have
you know, you have to know when the right time
is to start investing at certain levels in your business
because you can out invest yourself as well. Right, And
(08:26):
so I answered this question with caution because everyone is
in a different place, right, you really need to That's
that's where having a very strong business plan and being
very honest with yourself and having your three year, your
five year, your ten year plan comes into place, because
it may be your first three years that you have
(08:48):
no budget for marketing. That doesn't mean you can't market,
that doesn't mean you can't get creative. That doesn't mean
you can't use your cell phone to create again that content,
that storytelling, that doesn't require much more and your your
cell phone bill every day, right, So you know, it's
a great question, and I wish there was a science
(09:10):
to answer the question. But I also think that sometimes
people can outspend where they are and you just have
to be mindful of that. So I think depending on
the business you're in, the maturity of your business and
what you actually have to to spend, you have to
(09:30):
take that an account. I don't I think you have
to take that an account as much as you would
take into account anything else. And I mean, I hope
I'm answering your question. I mean, this is what we're
here for. We're here for the truth. You know, people
oftentimes that's a question that people hope there's an easy
answer to, like there's a formula that's but it's so
(09:51):
variable for so many businesses, for so many products. And
I think at the end of the day, what you've
told US is you have to know your business. No
matter what your business to you, I will send me back.
For brands that are rooted in lifestyle, you're gonna spend more.
Your marketing budget is going right, you're in you want
to be weaved into people's lifestyle. Naturally, you're going to
(10:13):
spend more for brands that maybe are not you maybe
don't have to spend as much. Again, there's not a science.
It's really understanding your business, understanding your consumer, understanding where
you are um in in in kind of where your
business is, Like, where are you year one? I don't
know year too, I don't know. How do you plan
(10:34):
for what you're gonna spend in a pandemic? You don't know. So,
you know, it's a great question. If you have the
money spending market yourself right, you know, don't spend yourself. Yeah,
but if if you're a new business and you're an
entrepreneur that's just starting, you're gonna have to be creative
(10:56):
with what marketing looks like and what cost. And that's
my advice because I do I see sometimes people outspend themselves.
Oh that's great advice. The realist of the realist. Thank you,
Ingrid breast. Thank you. Honestly, you guys. I never forget
my boy great DJ. He had landed like a spot
(11:18):
on I forget that show on MTV. That's how old
I am. He did a little DJ think it was cool.
And after he came back he was like, I need
a manager, and I'm thinking, brother, you can't you you
you really want to start busting down money with people.
I don't think you want to do that. Just get
organized and manage yourself, and eventually you will create, you know,
you'll create what what what you want for yourself in
(11:41):
this space, and then you may need a manager. But
I don't want to take your money. You're not You're
not there yet. And then I think the problem is
so many people will take their money. Like if anyone's
watching any of the tabloids right now, there's a marketing
person who's getting torn apart for taking money from people
right now. Yes, and with them it's it's a fine line. Yeah.
(12:03):
I worked in radio for a few years and I
remember these really small businesses, the local barbecue, this and that.
We want to, you know, get radio spots, and I'm like,
you can't afford it, you can't afford it. You you
like this is this is robbery. I feel like I'm
robbing you, right, So I just I wanted to answer
(12:23):
that is like sophisticated as I could have gone with
the answer to that question. I'm telling you, the biggest
mistake people make is spending too much when they don't
have it yet. Absolutely, thank you so much for tuning
in Money Moves audience. If you want more or a
recap of this episode, please go to the bank Greenwood
dot com and check out the Money Moves podcast blog.
(12:49):
Money Moves is an i heeart radio podcast powered by
Greenwood Executive produced by Sunwise Media, Inc. For more podcast
on iHeart radio, visit the i heart Radio app, Apple Podcasts,
or where where you get your podcasts from.
Hey Money Movers, Welcome back to Money Moves, the daily
podcast determined to give you the keys to the kingdom
of financial stability, wealth and abundance. Hey money Movers, Welcome
back to the Money Moves podcast powered by Greenwood. Our
(00:22):
next guest is breaking barriers and changing perceptions of women
of color in the spirits is industry across the whole
entire world. She is a Global Head of Marketing Spirits
at Combs Enterprises. She has worked with some of the
biggest brands in the spirit industry, including Diaggio, Hennessy, Bacardi
and now of course Siroc and Delhi. On Money Movers,
(00:42):
please welcome the marketing powerhouse. Ingrid, best to the podcast.
Thank you so much. It's so good to be here.
Thank you so much, Taniel. That was that was a
great intro. Girl. I'll take it. I'll take all that, so, Ingrid,
you know what Sean has done for the liquor and
spirits industry and yourself as well. Um, you know, I
can't help but think in the wake of the social
(01:04):
justice movement UM with Black Lives Matter, we've also seen
a rise of more black owned spirits and liquor brands.
UM do you think that's coincidence or is this just
now is more of our time? And do you think
we'll see more of them? Such a such an incredible
question and one that just gives me goose bumps. Right,
(01:26):
There's been many black own brands that have launched black
and brown Black and brown own brands that have launched
that oftentimes just don't have the financial backing, the support right,
the marketing engine behind them. So it's it's not a
new thing. I think that more and more, like all brands,
(01:48):
people are paying attention, much more attention to what's by us, right,
and so you know, you have brands that are literally
changing the game, black owned brands that are changing the game.
I mean Delhione is one of those brands that has
changed the game right Like Mr c Uh I call
(02:09):
him Mr c Mr colmbs um On. He you know,
he predicted the intersection between tequila and culture, right, and
and there's so many brands that have been able to
do that. I think about Fawn Weaver right with Uncle
near Us. She's a tremendous force. She's doing tremendous work
and she's not new, right, she she has been someone
(02:30):
that has been on the ground for a very very
long time. There's something that I really want to share
with everyone that's watching this. Companies are finally investing in
brands in brand development from black and brown people, and
there are some incredible ideas. There are a lot of
(02:52):
ideas that are kind of behind the scenes that are
kind of taking shape and form. It's a lot of
what um you know, didd He has kind of pushed,
you know, the industry to like, you gotta give us
a shot. We doolings in the space of spirits brands,
and so you're starting to see that much more. What
I can tell you is people should do their research.
(03:14):
There's a lot of funds that exist right, grants and
funds and investments that companies are making to help people
start their brands, to help people bring their brand their
brand ideas to life. And so I encourage folks to
really look at some of the large suppliers. You know,
our partner Diageo made a huge commitment most recently, along
(03:37):
with several other large suppliers to really really get behind
brands that are owned by black and brown people. And we,
of course at Comb's Enterprise, we are certainly um on
the grind to do some some some more cool things
in the space of spirits. So yes, lots of cool
brands that it currently exists, that are up and coming
(04:00):
that will launch soon. But there's also you know, money
sitting out there for people who may have ambitions to
launch spirits brands. And you know this I love because
obviously you know that period the past two years have
been really difficult for so many of us. You know,
we we definitely injured a lot. But I do think
(04:20):
there's a small silver lining that comes out of that
where there is money available to black and brown entrepreneurs,
not just in the tech space, but also in the
CpG space, and people really have to do their research
and go digging for it. It's not easy. No one's
just giving it away like it's sitting on the sidewalk.
But like you said, there's a lot of ally ship
and there's a lot of grants and funds out there,
(04:42):
I think to support new entrepreneurs who are trying to
break into CpG the spirit industry. So thank you for
saying that, because I think I don't think people realize
like there is platforms out there that really want to
support the development of business and brands and entrepreneurship absolutely
and again you just have to you gotta go digging.
(05:03):
You got and we'll tell you a lot of companies
made pledges um last year and we need to hold
them accountable. And the only way that you can hold
them accountable is to be in their face. And so
you know, super important to hear me people there are
there are resources available. You have to just go out
and find what those resources are. Do your research. There's
(05:26):
been tons of announcements about them. But you also need
to be prepared. I'm prepared if you have it can't
just be I have an idea, Okay, that's cool, but
you need to come prepared with with an idea that
that you've really done your homework, that thank you for
show up for the meeting, show up, show up for
the assignment, show up for and you know what. Over
(05:46):
prepare over prepared. You've been in this industry forever. It
is about being over prepared. Knowing your market, knowing your
target audience, knowing all the specs of like your entire
financials for your so that there is nothing that anyway.
I mean basically, people need to walk away going. Man,
we want to give you some money because you are
amazing over because you you are amazing you. You you
(06:09):
fit here. You you know we want to fund you. Yes,
so yeah, come prepared. I mean, you know, certainly this
is a big business that I'm in, The Spirits businesses,
big business, lots of you know, annual revenue tied to
the Spirits business. So, you know, my I encourage anyone
who has a passion for this business to do the research.
(06:32):
There are resources that exist and again even at homes.
I mean, for me, employing seven black women is my
way to invest back into this industry and invest back
into them. They may one day have aspiration to launch
their own brands, right and this is a platform for
them to do that, a springboard for them to do that.
(06:54):
So yes, there are resources out there for us. So,
you know, we talked a little a bit about some
marketing tips and tricks and obviously COM's enterprises and what
you have. You have a pretty big and significant marketing budget.
You guys have been veterans in the game for a
long time, but oftentimes people will ask questions about how
much should I allocate of our overall budget to marketing
(07:19):
in when you're you know, marketing to a consumer. Is
there a blueprint for it? Is there a finite number? Yeah?
You know, I'm gonna tell this story. I remember years
ago I had someone a friend of mine, DJ friend.
He said, I want you to be my manager, and
I was like, huh, out flattered, and but then I
(07:40):
took a second to answer back, and I said, well,
I'm gonna be really honest with you. You're doing well,
but I don't know if you have something to manage yet.
And what I mean by that is like, are you
ready to start sharing your money? Are you at a
point where you can't do this yourself? And I only
I only use that example to say it's very easy
(08:04):
for me to say of your AOP, of your annual
operating budget should go towards marketing, because that is the
seat that I'm in. Yes, but but you you have
you know, you have to know when the right time
is to start investing at certain levels in your business
because you can out invest yourself as well. Right, And
(08:26):
so I answered this question with caution because everyone is
in a different place, right, you really need to That's
that's where having a very strong business plan and being
very honest with yourself and having your three year, your
five year, your ten year plan comes into place, because
it may be your first three years that you have
(08:48):
no budget for marketing. That doesn't mean you can't market,
that doesn't mean you can't get creative. That doesn't mean
you can't use your cell phone to create again that content,
that storytelling, that doesn't require much more and your your
cell phone bill every day, right, So you know, it's
a great question, and I wish there was a science
(09:10):
to answer the question. But I also think that sometimes
people can outspend where they are and you just have
to be mindful of that. So I think depending on
the business you're in, the maturity of your business and
what you actually have to to spend, you have to
(09:30):
take that an account. I don't I think you have
to take that an account as much as you would
take into account anything else. And I mean, I hope
I'm answering your question. I mean, this is what we're
here for. We're here for the truth. You know, people
oftentimes that's a question that people hope there's an easy
answer to, like there's a formula that's but it's so
(09:51):
variable for so many businesses, for so many products. And
I think at the end of the day, what you've
told US is you have to know your business. No
matter what your business to you, I will send me back.
For brands that are rooted in lifestyle, you're gonna spend more.
Your marketing budget is going right, you're in you want
to be weaved into people's lifestyle. Naturally, you're going to
(10:13):
spend more for brands that maybe are not you maybe
don't have to spend as much. Again, there's not a science.
It's really understanding your business, understanding your consumer, understanding where
you are um in in in kind of where your
business is, Like, where are you year one? I don't
know year too, I don't know. How do you plan
(10:34):
for what you're gonna spend in a pandemic? You don't know. So,
you know, it's a great question. If you have the
money spending market yourself right, you know, don't spend yourself. Yeah,
but if if you're a new business and you're an
entrepreneur that's just starting, you're gonna have to be creative
(10:56):
with what marketing looks like and what cost. And that's
my advice because I do I see sometimes people outspend themselves.
Oh that's great advice. The realist of the realist. Thank you,
Ingrid breast. Thank you. Honestly, you guys. I never forget
my boy great DJ. He had landed like a spot
(11:18):
on I forget that show on MTV. That's how old
I am. He did a little DJ think it was cool.
And after he came back he was like, I need
a manager, and I'm thinking, brother, you can't you you
you really want to start busting down money with people.
I don't think you want to do that. Just get
organized and manage yourself, and eventually you will create, you know,
you'll create what what what you want for yourself in
(11:41):
this space, and then you may need a manager. But
I don't want to take your money. You're not You're
not there yet. And then I think the problem is
so many people will take their money. Like if anyone's
watching any of the tabloids right now, there's a marketing
person who's getting torn apart for taking money from people
right now. Yes, and with them it's it's a fine line. Yeah.
(12:03):
I worked in radio for a few years and I
remember these really small businesses, the local barbecue, this and that.
We want to, you know, get radio spots, and I'm like,
you can't afford it, you can't afford it. You you
like this is this is robbery. I feel like I'm
robbing you, right, So I just I wanted to answer
(12:23):
that is like sophisticated as I could have gone with
the answer to that question. I'm telling you, the biggest
mistake people make is spending too much when they don't
have it yet. Absolutely, thank you so much for tuning
in Money Moves audience. If you want more or a
recap of this episode, please go to the bank Greenwood
dot com and check out the Money Moves podcast blog.
(12:49):
Money Moves is an i heeart radio podcast powered by
Greenwood Executive produced by Sunwise Media, Inc. For more podcast
on iHeart radio, visit the i heart Radio app, Apple Podcasts,
or where where you get your podcasts from.
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