The new entrant
The EOS lip balm entered the market quietly some 7 seven years back but it quickly became a juggernaut and crush all before it. It is currently the country’s second largest selling lip balm and sells a whopping 1 million items per week. EOS took no time from making its way from the minds of its founders to the handbags of who’s who of the fashion and showbiz industry. The success of the brand, according to one of its founders can be attributed to innovative product design and marketing.
While designing the product, the founders looked at the existing products and realized that there was hardly any innovation in the product lines and competitor products looked and felt the same. Hence came the idea of developing a product which is different and livelier than the bland and medicinal looking lip balms. They also realized that the product needed to be centered majorly at women who were the majority customers. Hence came the spherical design, the varied fragrances and flavors and the crisp sound that comes when the lid is opened.
Then came the tricky part of marketing and distribution. To make matters worse, they faced a strong competitive space with products belonging to power houses like Pfizer. To being with, EOS found it difficult make its way to the shelves of retailers. However, all it took to get a start was a woman at Walgreens to like it and there was no turning back after that. The owners were also cognizant of the fact that their main targeting base was the internet savvy millennials. Hence, they made sure of their presence in social media though influence marketing and creative Pinterest, Instagram and Facebook pages. All this was later supplemented by partnerships with compatible brands like Disney and Keds.
After the soaring success of their lip balm, EOS has launched a few new products and are thinking of entering newer ventures with similar disruptively creative products.
Check out EOS products on racked.com and http://www.ulta.com/smooth-sphere-lip-balm?productId=xlsImpprod3490245 today!