Evolution of Smooth (EOS) began seven years ago as a mere idea for a start up, but in just a short amount of time, the company would hit the market and rise to the top of their industry to become the second best-selling lip balm.
Before now, EOS hasn’t said much about their business strategy.
“Not necessarily building up information about it was something quite deliberate on our part,” stated Sanjiv Mehra, EOS cofounder and managing partner, in an exclusive interview with Fast Company in which the company divulged a few of their secrets.
Mehra goes on to explain that, as the company grows, they feel it is important for their consumers to be able to understand and get to know them better.
And of course that means revealing some info about their business strategy and exactly how EOS rose to the top of their game in such a short time.
Like any business or any strategy, it was a multifaceted approach that included a focus on design and demographics in a stale, over-saturated industry.
Anyone familiar with EOS will note their lip balms are certainly unique from other offerings in the drugstore. The egg-shaped, pastel-colored orbs are a far cry from the two-inch long tubes that most lip balms come in, and the distinctive lack of markings also adds their unique appeal. The products are available on major stores such as Target, Wal-Mart and Costco.
The design was carefully chosen in every aspect to engage the senses, but it was chosen to engage with EOS’ chosen target demographic: millennial women. Women happen to be the primary purchasers and users of lip balm but are, for the most part, not targeted by the lip balm industry.
EOS lip balm firmly planted themselves in their demographic and set to work building connections through various means, including social media, blogs, and more.
Read their full interview here.