The amazing business strategies that saw EOS beat market veterans like That EOS lip balm has made its mark among the millenials is a fact. From the mega stars like Taylor Swift, who is the brand ambassador to the Asian Markets, to Christina Aguilera and Miley Cyrus, you can spot them carrying a pot of that delicious smelling and attractive balm in their bags. However, the journey to becoming the most popular lip care product in a market that is swamped with veterans like chapstick was not an easy one. The company may have caught a lucky break because of the innovative leadership of Sanjiv Mehra.
The past few decades have been dominated by the presence of brands that never missed at the cosmetics section of the drugstore. Every female knew that lip care meant getting a tube of chapstick, and it they were feeling like experimenting, the best they could do was switch the plain with an interesting scent. The manufacturers of the lip balms seemed to be stuck in the tube, literally, and were only playing with the price tag to try and outdo one another.
When Sanjiv and his team came in, they decided it was time for an evolution. They rethought the tube and replaced it with a pot, it was great, but there was a challenge. The main challenge was that the pot was a little bit unhygienic. They had to streamline the design to make it possible for the pot to be applied directly to the lips and they did. They included interesting colors, flavors and gave the containers a delicious click sound when closed, and the perfect evolution in lip care had been set in motion.
The next challenge was to get someone to market their product. They were lucky to find a woman in Walgreens that liked their product. The product moved so fast that walmart.ca started stocking. Then, they decided it was time to try and sell the product to the one age group that would end up making all the difference, the millenials. They organized campaigns and had stars like Miley and Kim sell the EOS product, and it was an instant hit.
It is the usefulness and the pleasure that came with the use of the balm that made it as popular as it is today, states Mehra. The EOS lip balm business is projected to get even better in the next few years. More stories here on thebrotalk.com.