As the owner of a nutraceuticals startup, you may be struggling to figure out how to thrive in a market that is growing deeper and wider with every passing day. Distinguishing your brand from the chaos that surrounds you is certainly a challenge.
However, there are four specific actions that you can take that will enable you to spread the word and elevate your brand to a diverse pool of customers.
1. Set up your infrastructure.
Before you dive into an updated marketing strategy to get your nutraceuticals into the hands of buyers, it is vital that the foundations of your company are strong. To that end, take some time to review your business plan.
This should be a living document that acts as a road map for your company. It includes details concerning what you will be selling, how you will obtain your products, the amount of funding you will need and where you will get it, and how you plan to market your nutraceuticals.
2. Research your audience.
Next, your focus should be on learning about the audience you plan to target. Conduct online research, consult with other professionals in the field, and scout out your competitors to see what they are doing and on whom they are focusing their efforts.
What you learn via these endeavors will give you your first glimpse into your customer base, a snapshot that you can refine and customize as your own sales begin to grow.
3. Get the right payment provider.
Finally, don’t underestimate the power of finding the right high-risk payment provider. This is the company that will stand behind you at every step as you accept payment from your nutraceutical customers.
As a side note, the “high-risk” designation exists because the industry in which you do business is prone to added regulations, above-average security lapses, increased customer funds disputes known as chargebacks, and even a perceived negative reputation.
All of these combine to make conventional financial institutions wary. As a result, you can expect greater scrutiny when applying as well as additional fees and even contractual obligations.
Despite the fees and added requirements, your merchant account provider will furnish you with benefits. For one thing, they are well-versed in the nutraceuticals industry, including its unique regulatory and security challenges.
Moreover, their responsive customer service representatives are specially trained to help you troubleshoot technical and chargeback issues, enabling you to minimize downtime, increase customer satisfaction, and keep your reputation polished.
4. Develop your own brand identity.
Delight and intrigue customers with a unique story. Back it with an authoritative voice and creative logo.
In order to rise above the bland and boring, your best bet is to find ways to supercharge your brand identity. After all, customers will be attracted to a company with a story that resonates with them.
What’s more, they will return to make future sales if the hype truly matches with who your company is and the mission it is working to uphold.
Crafting your brand identity involves first figuring out the nature of your store and the message it wants to present to the world. Define your origin story, the “why” that is intrinsic to your reason for believing in and selling these products.
Then come up with the logos, fonts, and signage that bring that picture to life. This should include everything from your domain name to the content you create on social media sites like TikTok, Instagram, and YouTube.
5. Make personalization a priority.
Individualize each customer’s relationship to your brand with everything from product quizzes and curated content to an enhanced payment and purchasing experience.
Regardless of the products they are buying, today’s customers demand to be treated as unique individuals. They want to do more than simply make a transaction; their priority is to become an integral part of your brand family.
This is particularly true in the nutraceuticals space since your goal is to become an ally in facilitating each person’s health and wellness.
Creating that special relationship happens when you anticipate consumers’ questions and needs and provide them with customized details that they may not have even known they were seeking.
For instance, you might know a great deal about the supplements you sell, but prospective clients will not. Help them to learn what regimen is best for them by featuring content that includes quizzes with personalized results as well as a bounty of educational content where people can learn about how your products can make a difference in their lives.
Although it might sound mundane, a positive relationship is also nurtured when the buying experience is smooth, seamless, and secure. Be sure that your point of sale solution is configured to accept payment types that amount to more than just credit and debit cards.
In today’s digital age, you should also be allowing them to pay using digital wallet apps such as Apple Pay and Pay Pal as well as via echeck, ACH payments, or via a subscription or recurring billing plan.
6. Establish yourself as an authority in your industry.
Use strong content to demonstrate that you are an expert in your nutraceuticals niche.
As we said above, you are in the business of promoting health and well-being. Especially in an environment that is teeming with competitors, it is crucial that you show the world that you are a force to be reckoned with in your industry.
Of course, it starts with educating yourself about the intricacies of the items you sell. Understand what they are made of, how they work, and the results they can make possible.
Then take the time to craft written and video content that informs the people you are aiming to serve. Be sure not to make any claims that violate state or federal regulations, and post all disclaimers prominently to ensure that you are fully compliant with all applicable laws.
When you understand your business goals and the audience you want to attract, rest your company on a robust infrastructure, optimize your brand, personalize each customer’s experience, and become an established authority in your industry, you have accumulated the keys necessary to your success.
In a commercial environment that is saturated with rivals, incorporating these steps into the formation and ongoing progress of your nutraceuticals business will put you on the road to maintaining a flourishing company that rises above the rest.
North is a leading financial technology company that builds innovative, frictionless end-to-end payment solutions designed to simplify and grow businesses of all sizes. From the front door, to the back office, the developer world, and partnerships that expand the payments landscape, North offers proactive, comprehensive merchant services, in-house processing, and more.
