The Secret Success Story of EOS Revealed in Exclusive Interview with Fast Company
EOS, or Evolution of Smooth, have previously kept quiet about their business strategies and techniques for success, but in this exclusive interview with Fast Company, EOS reveals details about their success story.
Keeping quiet was a deliberate move on the company’s part, explains Sanjiv Mehra, EOS lip balm cofounder and managing partner, in the interview. But as the company grows, the founders feel it’s important for their consumers to know more about them and who they are.
And surely people are curious about the unique lip balms that are in and of themselves somewhat mysterious. The unique orb shape coupled with a distinctive lack of markings adds an aura of mystique – which is, in part, an aspect of the company’s business strategy.
The founders knew succeeding in the lip balm market would require a distinct and unique product that would stand out among the many standard tubes without being a passing fad or even worse, a cheap gimmick.
More than one factor went into the design decision, however. From a necessity to engage all five senses to a targeted demographic, every aspect was carefully chosen to create a beautiful and stand-out lip balm.
Another crucial angle to EOS’ success can be found in their target demographic: millennial women. Women purchase and use the most lip balm, and yet, the majority of brands available on the market don’t target their products at women, opting instead for a more unisex feel.
And so EOS claimed their demographic and set about making connections with their potential customers through Facebook and other social media sites, blogs, and more.
Their hard work has paid off. EOS is now the second best-selling lip balm on eBay, just behind Burt’s Bees, and sells one million units per week.
To learn more about EOS and how they found success in a crowded market, read more here.