The lip balm market is over saturated with products. However, most of the products were basically in the same packaging with the same ingredients. Only the name on the package was different. EOS made a very smart move. They decided to completely revolutionize the packaging and the way that lip balm was marketed to the consumer. Their strategic move worked. Today, the company is able to boast that they are one of the Well-known and top selling lip balms in the country. In fact, it is reported that EOS or Evolution Of Smooth sells approximately a million of the little orbs a week.
The New Company
EOS was the new company that was trying to break all the rules and establish new rules for marketing in the lip balm industry. Their marketing strategy was very secretive for years. However, since achieving such great success, the co-founder has decided to let the public in on his unique marketing strategy. EOS lip balm is a rival of Chapstick and Blistex, taking the number two spot in overall sales. Sanjiv Mehra, EOS cofounder and managing partner states that in the beginning the primary focus was on capturing their targeted customer. Thus, they focused all their efforts on finding ways to reach that group. They used famous celebrities, bloggers, and social media sites like Facebook to connect with them and attract new followers. Now, they would like their customers to know more about their background and the focus of their products.
True, EOS lip balm was determined to become a big player in the lip care industry. They quickly achieved the number two spot in sales. Still, they believe in working hard to create even more products for their targeted audience, which is composed of primarily younger women. Today, the company sells more than a million lip balms a week. That impressive number is more than the company sold their first year in business.