Supplement nutrition is one of the quickest-growing markets in the world. Driven by the wellness industry, an aging population, better brand positioning, and a proliferation of private labels with high-quality products, McKinsey reports that the supplement industry “is now valued at $82 billion, with roughly 28 percent of that in the US, where sales increased by approximately $6 billion between 2007 and 2012.” Entrepreneurs are jumping on the bandwagon, but the increase of supplement options have made it hard to stand out. According to the Nutrition Business Journal‘s 2018 Supplement Business Report, supplement manufacturers rated the three most challenging aspects of online retail as challenges of online retail as “driving awareness of product, navigating Amazon, and standing out.”
If you are in the private label supplements business, you need to find ways to draw attention in a crowded field while not cutting into your bottom line. Here are three promotional strategies that won’t break the bank.
Get in the swag game
People love free stuff. That is the reason why people walk away from conferences — and the Oscars — with bags full of goodies. Not only does it ingratiate consumers to a product or entity, but free stuff serves as a constant, tiny reminder of that business in their lives. If you want to stand out in the crowded field of supplement nutrition, one easy way is to do so is to have memorable swag. Folders and hats are great, but consider getting branded promotional material with a wellness angle, like stress balls, branded yoga mats, or reusable straws. Another idea you should consider is to offer promotional pens. When you ship your goods to customers, something as small as a pen can easily fit in an Amazon box or USPS shipping envelope. Promotional pens are also great to have around the office for your own use, or as a favor when business customers drop by. High-quality pens can last for years, making them some of the most durable and convenient pieces of swag.
Hit the conference circuit
In any field, your connections to buyers and fellow manufacturers can mean the difference between the life and death of your business. National and international conferences offer you a chance to find new clients and vendors, growing your network and thereby strengthening your business. Conferences also offer opportunities for career and professional development. The Center for Responsible Nutrition’s 2018 conference offered workshops on the human microbiome, pregnancy nutrition, and government regulation. Pursuing this type of continuing education gives you the chance to better position yourself in a changing field. Science and supplement nutrition are inextricably linked. If you have staked your livelihood on the second, you don’t want to be left behind by the first. Furthermore, you have a communication opportunity when you are tracking the latest info. As such, you can ensure your customers and buyers that their health is in informed and trustworthy hands.
Utilize your expertise
If you run a supplement company, chances are you know a lot about supplements. One of the ways you can stand out is by taking that knowledge public. Maintaining a blog is a well-known way to gain interest and juice your SEO, but today’s video-centric ‘net holds opportunities as well. Consider hosting webinars on a free platform like Google Hangouts. Webinars can, admittedly, be tricky — you do not want to bore anybody, and you want to offer genuine knowledge. But if you offer people something of value, webinars can be a very rewarding lead generation tool. The same goes with online video: Creating a series for Youtube could land you a following of people interested in your area of expertise, and people are more willing to trust purchases made by an expert.