Last year more than 2,400 health and wellness products were launched in the U.S. –but only 10% will likely last. Why do some brands go on to become household names and others disappear? Researchers looked at the brands and products that emerged as winners and found five common traits among them.
Breaking Through: What Makes Health and Wellness Brands Succeed?
A clear and carefully constructed rationale indicating why and how the product satisfies an unmet need
Retailers are looking for brand partners that are truly unique and distinct. It’s essential for marketers to be able to articulate what makes their product different and tell their story in an authentic and relatable way.
Unique or eye-catching packaging that captures the consumer’s attention while simultaneously conveying product benefits
Shape, color, and interesting graphic elements all help your brand stand out on the shelf. But those aren’t the only ways to stand out—a unique delivery method, functionality, or social message like sustainability or safety can also set your brand apart.
Well-developed distribution strategies that include relevant and category building shelf placement recommendations
Distribution remains the largest hurdle for new products entering the market. Space is at a premium and newly introduced brands must bring comprehensive shopper insights and an understanding of the retailers DNA. Marketers that do their research and identify the stores where the customer base is most aligned with the product position.
Marketing and promotional plans that combine traditional media with social, mobile, and influencers
Retailers aren’t willing to take risks with unknown products—they are looking for brands that already have a built-in customer base and a large social following. Impactful influencer marketing campaigns, paid social amplification, and engaging digital ads help to build a brand that retailers want.
A price advantage to gain trial
80% of consumers will switch brands if they are presented with a promotion from a competing brand. Savvy marketers develop competitive advertising and promotion strategies that include targeted, localized solutions and break down barriers to trial.
While there’s more competition than ever before, there’s also more opportunity for emerging brands to compete with well-established rivals. Women’s Marketing is an experienced brand builder offering deep, data-driven insights into consumers and the health and wellness marketplace that informs strategic media marketing. Contact us to learn how we can help your brand stand out and get noticed.
Source: Drugstore News, Emerging Brand Report, Breaking Through the Sea of Sameness, May 2016