Brand manufacturer EOS lip balm has done what many considered to be impossible. They’ve entered a saturated market that was controlled by giant corporations and successfully launched a new product that has come to dominate the market. EOS lip balm is now the second hottest-selling product in that space, and it continues to set new sales records with each passing year.
The stale gets replaced with the hip
EOS cofounders, Sanjiv Mehra and Jonathan Teller, knew that they wanted to create a hip product from the ground up. They had zeroed in on the lip balm market as being made up of stale, old products that had scarcely changed over the preceding 100 years. They thought they could do better.
Through intensive market research, the duo determined that their primary demographic was millennial women, ages 25-35. The Lip Balm Company set out to create a product that would wow their audience. They wanted to create a lip balm that would thrill all five senses and create a buzz within the targeted demographic group.
After a year of meetings with designers, chemists and marketers, they emerged with a product that was unlike anything that had ever been seen before. A fruit-shaped product with dozens of unique fragrances, EOS lip balm fulfilled its goal of catering to all senses. It came in a hexahedral, glass-like container with a solid, expensive feel. What’s more, it was quickly gaining favor with many millennial celebrities, such as Kim Kardashian, Taylor Swift and Miley Cyrus, all of whom were seen regularly using the product.
This was augmented by an epic social media campaign. EOS currently has over 7,000,000 followers on Facebook(https://www.facebook.com/eos/) and over 2,000,000 on Twitter. Single posts from its Facebook page routinely get over 40,000 likes.
Today according to racked.com, EOS is the number two most popular lip balm in the U.S., selling over 1,000,000 units per week.