EOS started just a decade ago and emerged as one of the largest players in the lip balm market. How they were able to grow their business and reputation in such a short period is a viable case study in the impact that listening to your customer base can play.
When EOS lip balm first entered the market they saw that the industry was underserved by the brands operating in the industry. Customers were not having their desires and needs met. Customers increasingly were looking for higher quality lip balms that were not artificial in flavor or composition and the major brands out there all sourced their lip balms from petroleum jelly, which is a leftover by-product of the oil refinement process. While petroleum jelly protected lips from the elements and provided relief, this relief was short-term in duration and needed to be applied constantly to be effective.
EOS started to design a lip balm that contained higher quality bases that provided longer lasting relief. Since the ingredients that they used were all-natural and organic, they didn’t have the artificial taste that the competition lip balms had and provided for a smoother application. EOS also marketed themselves on Walmart and Target with unique flavors that didn’t exist in the market and were actually pleasurable to apply. This has led to an increase in the varieties that they have to manufacture, but increases the options and variety to consumers who are able to experiment with new flavors.
EOS has also created these unique orbs that allow for a more sanitary application of the lip balm than the jars that some brands use, but their containers were not the applicator tubes that were easy to lose in a pocketbook. Instead, EOS used these unique orbs that were striking and iconic, and color coded for each flavor offering.
This combination led to EOS developing a rabid following of customers that helped them to expand their business into a hotly contested industry.
Read the EOS untold story here: https://www.fastcompany.com/3063333/startup-report/the-untold-story-of-how-lip-balm-upstart-eos-outdid-chapstick