Late last year, the Fast Company Magazine published an article detailing the incredible strategy of lip balm startup EOS. EOS or the Evolution of Smooth has been put up against tight competition such as Blistex and Chapstick, the brand once synonymous with lip balm around the county. Quickly outgrowing the competition, EOS lip balm is taking hold as one of the most popular beauty brands to date, attracting celebrity customers like the Kardashian family and even Miley Cirus. So, what’s so great about EOS? It’s their strategy. In the article, Sanjiv Mehra, EOS co-founder shed some light on exactly how EOS took hold so quickly.
Sanjiv saw a product that has been largely untouched in decades, and a large opportunity to stimulate the lip balm market. It really broke down to only just two integral plays that made EOS the second biggest name in lip balm.
- Creating a brand for women
- Advertising to the right age group
By creating a brand for woman, there was a significant increase in interest in the product. Lip balm went from a bare necessity to a unique and fun beauty product. This alone attracted millions of women to the brand; all seeing a unique and inspiring twist on an otherwise unnoticeable product. The second play was getting the product in the right hands. By marketing their product to millennial, not only did they increase their customer base, but the tech-savvy, Facebook and social media happy girls took their new favorite beauty product to all new heights.