4 Steps to Starting Your Own Health Supplement Brand
Many people are under the impression that the company starts before the brand, but what comes first is starting your own health supplement brand! In this article we will go over how to start a brand which then will be the heart of your health supplement brand.
Step 1: Identify Your Market
There are countless different products already on offer that cater to different health categories, what category do you plan to compete in? Specifying your target market is the first step in starting your company.
What market are you looking to hit with your health supplements?
It’s important to conduct your brand development research thoroughly as there is a wide variety of products available throughout the current Health and fitness market. These products can align with categories suited to Weight loss, muscle building, Immunity, mental clarity, energy, recovery and many more. Further condense your target market by considering the demographic, will your product / future formulation appeal to women or men, body builders or fitness enthusiasts or will it target adult’s or children. The more specific you are with documenting your research the clearer you goal will be. This will clearly identify who you will be competing against and the goal now is to create a better product than your competitor or offer the same quality product for a better price.
Success comes from research and planning!
Step 2: Create your Product to Fit your Target Market
Once you know what market you would like to enter you can tailor your product to that market.
Here are some questions you might ask once you know who you want to sell to!
- How will your product compete in your selected market?
What differentiates your product and makes it comparable to others?
Who are you competitors?
How much do they sell their product for? Can you enter the market at a lower price?
Have your competitors overlooked a group of consumers that you can now target?
Why are your competitors successfully selling these products and can you capitalize on any of their strategies and attributes?
Bit of brainstorming and discussions with your team brings in innovative ideas for your brand.
Step 3: Sales, Marketing & Distribution
Now that you have determined your target market you can develop a marketing plan and the best way to market your product. Some questions you might want to ask are “how do you plan to make sales” (i.e. online, in stores etc) and “how are you going to draw customers in?”
Great number of health supplement brands are only online based!
If your target market is senior’s you would not use social media avenues for your sales and marketing. Find the best way to approach your consumers and create a marketing plan tailored to them.
E-commerce is booming right now so its beneficial to have a store set up even if your focusing on in-store sales. Have a site developed where customers can order direct, it is also advantageous to have social media linked to your website and post frequently about your product, create a community as well as a brand!
As part of our complete end to end solution in contract manufacturing, The All Natural Company offers service for website design.
Step 4: Once You Complete These Three Steps the Hard Part is over, Let Us Take Care of the Rest!
The All Natural Company is one of Australia's largest contract manufacturers offering a one stop shop with a variety of services including product formulation and development, website development and label/graphic design as well as packaging and marketing. Our company manufacturers for over 32 notable brands on the current market which provides our team of specialist inside trade knowledge to the best performing products on the current market. Contact The All Natural Company today to bring your brand to life.
The All Natural Company - one of Australia’s leading Health Supplement contract manufacturers.