One of the more shocking successful companies of the last few years is a company that sells a product that has been around for eons. The Evolution of Smooth company has become a surprise $250 million worth business by selling lip balm. This came a bit out of nowhere, as the lip balm industry is controlled by tried and true products that have been around for ages. EOS put some energy and revitalization behind their products to amp up the customer excitement around their business. This was how they took the lip balm industry by storm.
The big difference between customers of the last few generations and the more recent millennial generation appears to be that millennials like new things. They often have a progressive view. They generally are attracted to unique products. EOS lip balm used that to their advantage. They deliberately created a unique and attractive product that would appeal to the millennial generation and other younger generations. EOS embraced this by created a round lip balm container instead of the tube that is familiar with most lip balm companies.
Millennials and consumers today are also more interested in buying healthy or natural products. EOS ensured that they use organic and natural based ingredients for their lip balms. The lip balm formula contain good ingredients like jojoba oil, shea butter, and Vitamin E. These are all well liked skin care ingredients for consumers of natural or organic products.
The EOS company additionally worked hard to appeal to consumers of today. Now more than ever consumers are getting information online on social media. The EOS company made advertisements on Racked, YouTube and with Vloggers. They vamped up Facebook (https://www.facebook.com/eos/) and Instagram pages to appeal to their fans. Consumers also generally like getting products that certain celebrities they like promote or use. EOS approached the likes of the Kardashians, Britney Spears, Jennifer Lopez, Miley Cyrus, and Christina Aguilera to promote their lip balms in their music videos and shows.
EOS used advertising, organic ingredients, and a unique product design to appeal to consumers of today. All of these contributing decisions helped the EOS company become a $250 million worth business reveals Fast Company. They are projected to become a $2 billion company by 2020.