EOS, the maker of the eponymous line of lip balm, has made quite a splash in the beauty world with their incredible, out-of-nowhere rise to the top of the lip balm market. Through a highly innovative product development approach and a marketing campaign that targets a narrow demographic, they’ve grown their product from scratch into the second most popular lip balm brand in the United States.
Zeroing in on millennials
Through extensive market research, the cofounder of EOS lip balm, Sanjiv Mehra and Jonathan Teller, determined that their core market was women aged 25-35. This realization flew in the face of the conventional market wisdom, which said that just about everyone was a good potential lip balm customer.
The cofounders decided that they would make good use of the legacy media, running traditional television, radio and print ad campaigns. But they also decided to reach out to social media influencers as well as doing direct promotional efforts by stars who are admired by that demographic.
Creating a gigantic social media presence, the company quickly gained over 7 million Facebook followers and over 2 million on Twitter. One share from its Facebook page may generate over 40,000 likes, an incredible statistic, even for the largest companies in the world.
It’s also partnered with shoe company Keds, celebrity designer Rachel Roy and even with the Disney feature film Alice in Wonderland. The latter saw special edition lip balm products being sold on eBay for over $100 per package.
If imitation is the highest form of flattery, then EOS is being inundated in it. Blistex, Chapstick and even Walmart have developed their own knock-off lines that are near carbon copies of EOS’s lip balm. https://evolutionofsmooth.com/limited-edition.html.
Today, the company is selling over 1,000,000 units per week. That’s more than they sold in their entire first year. Sales continue increasing and the company has plans to issue multiple new product lines in the coming year. For more info, visit evolutionofsmooth.com.