Growing a Supplement Brand with Vin Tricarico
The growing demand for dietary supplements has been fueled by people's increased awareness of preventative healthcare, keeping a strong immune system, and addressing deficiencies. This trend has been on the rise steadily over the last ten years. The growing market has provided a window of opportunity for new supplement brand owners to come forward with an array of unique products. However, growing a supplement business is slightly different from just establishing one. And a diverse set of abilities are required to transform a dietary supplement concept into a successful business. You need to consider avenues like partnering with a qualified supplement contract manufacturer, the ingredients you want to include in your product, your target audience, and their requirements and demands. Additionally, for the supplement product to succeed, product distribution, marketing, legal issues, customer service, financial planning, and sales processes must all be coordinated.
In a recent episode of the Health Supplement Business Mastery podcast, Vin Tricarico, Executive Vice President and Chief Operating Officer of NutraScience Labs, shed light on some ways you can grow a supplement brand based on his 20+ years of nutraceutical industry experience.
Here are some of the key highlights from the podcast:
Finding The Existing Gap in The Market
The first and foremost step to establishing a supplement brand is to study the market. Once you have an idea of the target audience and its pain points, you can formulate a supplement with a unique selling proposition that can penetrate the market. You must find the existing gap in the market, try to bridge that gap through your brand’s hero product, make your brand relatable to the audience, and invest in marketing.
Invest In Packaging and Design
Developing a dietary supplement that addresses specific health needs is important. However, investing in the packaging and labeling of your product is a critical, but often overlooked step in the process. Small design and marketing efforts can go a long way in helping your supplement brand stand out – digitally and on the retail shelf.
Take Advantage of Social Media
Today, most successful dietary supplement brands have a strong presence on social media. Social media platforms such as Facebook and Instagram are the easiest way to interact with your audience and understand their needs and demands.
Vin encourages brand owners to adopt storytelling to advertise their brand. Today’s consumers don’t just want to know about your product; they want to know the value it creates in their lives. By telling impactful stories, your supplement brand can build a connection with its audience and drive greater conversions.
The takeaway? Growing a successful dietary supplement brand involves everything from the supplement itself to the box it is sold in, as well as the catchy advertisements. It also involves talking about the team behind the scenes, the inspiration behind the product, and the customer response.
How Can NutraScience Labs Help?
If you want to start a dietary supplement brand, NutraScience Labs can assist you by providing superior supplement manufacturing services, in addition to in-house packaging, label design, and fulfillment services. We have worked with more than 2,300 brands globally and have over 120 years of industry experience producing high-quality dietary supplements.
Get in touch with us to learn more about creating a custom dietary supplement, or request a free manufacturing price quote.