When businesses entrepreneurs Jonathan Teller and Sanjiv Mehra teamed up with Craig Dubitsky to start a new company, they did not have a specific industry or product in mind. It wasn’t until these three innovators walked through the health and beauty aisles of their local stores that they discovered the ideal candidate for a renovation. What drew this team’s attention was the lack of change in the current varieties of lip balms. While these lip balms were top sellers for their brands, they basically had not changed since they were first created more than one hundred years ago.
Once the team had their product idea they established their company, which they called Evolution of Smooth. Although co-founder Craig Dubitsky chose to leave the company before its product line launched, the remaining two co-founders carved out a new path for marketing their product. With a background in consumer goods, Sanjiv Mehra used his skills to target the younger generation. The team at EOS lip balm accomplished this by making every aspect of their product appealing to the various senses people use. Not only did they offer their lip balm on Amazon in a wide assortment of flavors and colors, they also changed the look of the container itself.
The marketing strategies the team at EOS used included online campaigns aimed at social media websites. They focused their efforts on conveying the message that their product was both fun and practical. They also decided to use natural ingredients in the creation of their balm so they could make it more appealing to people who were more conscientious about using organic products. The renovation Evolution of Smooth did to their lip balm line definitely drew interest from the Facebook active millennial generation. As a company projected to bring in more than two billion dollars by the year 2020, the team behind its success definitely picked the right market.