Growing your company can be incredibly exciting, but it can sometimes feel a bit nerve-wracking. For supplement manufacturers, expanding their product line can be a great way to reach new consumers and grow their brand and business. As with any new venture, there is a certain amount of risk that comes along with this expansion. If you’re considering taking the leap and developing a new product, here are a few things to keep in mind before you get started:
Do Your Research
From start to finish, developing and launching a new supplement requires a great deal of research. Before you begin developing a new product, it’s important to carefully examine the marketplace you are about to enter. You want to be sure that there is a need for your supplement, and that the category you have selected isn’t over-saturated with competition. If you are attempting to enter a more saturated supplement category, make sure you are developing a product that provides some sort of unique benefit to the consumer. By doing your homework before you get started, you can greatly improve your chances for success.
Find Your Marketing Message
With so many health products on the market, consumers are often overwhelmed with options. Often, you only have a few moments to capture a customer’s attention. It’s important to figure out who exactly your target customer is so you can develop the right message to reach them. Consider the unique selling points that your product has to offer, and create a concise and informative message.
Form Powerful Partnerships
Your role in promoting your new product doesn’t come to an end once it is stocked on a retailer’s shelves. Their sales staff can serve as important advocates for your supplements and your brand as a whole. It’s important to demonstrate to retailers why they should recommend your product over your competitor’s. One great way to keep retailers on board is to provide ongoing product support. Provide them with training about your supplement, and offer special promotions to provide an additional incentive.
Launching a new product can be the perfect way to grow your customer base, brand, and business. With the right planning and preparation, you can give your new product the best possible chance at lasting success. Just as these factors are an important part of launching a new product, selecting quality ingredients is key. At InterHealth, we are committed to supplying effective and safe dietary supplement ingredients with exceptional quality and purity. To learn more about partnering with InterHealth, contact us online or call us at 1-800-783-4636 to speak with one of our knowledgeable representatives.
Office: 5451 Industrial Way
Benicia, CA 94510