Keys to Building a Successful Brand in the Wellness Industry

According to data from the Global Wellness Institute, in 2022, the global wellness economy reached $5.6 trillion, which corresponds to 14% more than the size of this market in 2019. In other words, wellness is a growing market and more and more companies want to build a brand in it. But with so much competition, how can you succeed? While there’s no universal recipe for success, here are a few things to keep in mind that should help you build a thriving brand.

1. Create a brand identity that doesn’t look like the competition

Building a unique identity is arguably harder than it sounds. After all, how can you look different enough from hundreds of other companies that provide similar services or products? The extent to which your brand will appear unique may depend on how well you articulate your company’s values and propositions.

To get started, think of your own values and how well they’ll resonate with a specific target audience. For example, are you committed to engaging in sustainable practices? If the answer is yes, then be sure to let everyone know about it and you will surely find people who will purchase from you for this exact reason.

It goes without saying that you won’t be the only company offering sustainable products and it’s quite unlikely that you’ll offer something that addresses a problem that nobody else is. The key is to build a company that offers a unique combination of features that will strongly resonate with a specific group of people.

2. Work with the best in the industry

Whether you’re just building your brand or want to expand your offering, finding new talent can be time-consuming and the results will vary depending on your recruitment skills and investment possibilities. If you’re a small brand, chances are you’ll have to handle recruitment by yourself or with the help of a few other people and may not have the skills needed to pick the right people.

In the age of the Internet and artificial intelligence (AI), it’s easier than never to find the talent who is the most compatible with your brand. For instance, you can use specialized search websites that will give you a constellation of information about potential employees. One good example is Leadar, which leverages AI to give you information about business contacts by several parameters, including name, education, company, or professional skills.

3. Create engaging, high-quality content

In the past, wellness brands had to rely on radio and TV commercials to present their offerings to customers. These days, thanks to what has become known as the Internet, you have a significantly higher chance of providing a detailed account of your products, services, and company values. That being said, actually doing so still requires a certain level of investment and a bit of imagination.

Whether you want to invest in ads, SEO, or both, it’s no secret that your content needs to be engaging and relevant to your offering. Specific examples include blog posts where you provide reliable information on the ingredients used in your products or podcasts where you provide wellness-related insights and tips. All of these tools should help you position yourself as an authority in the field and familiarize both old and new audiences with your brand.

4. Consider personalized wellness solutions

Depending on the type of services or products you provide, it may be possible to offer personalized solutions for your customers. For example, if your company focuses on fitness or nutrition, you can provide evidence-based personalized fitness plans and nutrition consultations.

Assuming customers are happy with your services, you can then ask them to review your personalized solutions and provide testimonials. Providing genuine narratives from hundreds of customers could serve as strong social proof and encourage other customers to try your services.

5. Leverage technology

Today, it’s easier than ever to build apps that can increase the extent to which your brand is connected to your audience. Even better, there’s a huge versatility in terms of how complex an app can be, meaning you have a certain degree of freedom in terms of the amount of money you need to invest in building and maintaining an app.

If you aren’t convinced of the value of investing in an app, think it this way: do other brands providing the same products and services have an app? If the answer is yes, it means you’re behind your competition and would need to outgrow them in another area to keep up with them. If the answer is no, it means you may be able to differentiate yourself from hundreds of companies and grow your audience.

If apps are not your thing, note that there are many ways to leverage new technology to connect with your audience. For example, virtual classes are becoming increasingly popular and there’s no reason why online fitness or meditation classes cannot be used with clients who cannot access these services otherwise.

6. Try finding neglected audiences

With so many wellness companies on the market, finding an audience that isn’t being targeted by anyone can be quite a challenge. You may have a better chance of achieving this objective by finding out about the latest trends in wellness before others. For example, think of trends such as holistic solutions for remote workers or meditation apps. When these trends first emerged, only a few companies were able to connect with new audiences as a result.

If finding a new trend is proving to be a difficult task, why not start one? To do so, ask your customers what they would like to see from you and you may well discover an audience that has been neglected ever since.

Bottom line: The key to the main door of success is understanding your audience

Building a new company in a well-established market is quite a challenge. That being said, don’t underestimate your imagination or the imagination of your audience. As society changes in terms of technology and social trends, so do customers. The more you understand what they want and the better you are at predicting what they may want, the higher the chances you have of building a successful new brand.

Another way of saying the same is that understanding your audience is the key to the main door to success. This means more than just knowing who your audience is. It means you need to figure out what your audience likes, what they may like, and how you can build with them a relationship that can resist the ups and downs that your industry may experience.