There are 13 different types of vitamins, each with a unique health benefit. A growing interest in vitamins has spurred globally across all demographics.
If you’re a vitamin manufacturer looking to take your business to the next level, you’ll be up against some of the best vitamin manufacturers in the world. Set yourself up for success by following these seven secrets to a profitable manufacturing process.
1. Start with a Great Product
No matter what you do, if you have a terrible product, you won’t get very far in the vitamin market. You need to ensure you’re creating a high-quality, desirable product.
You will also need to find a happy medium between price and quality. Finding quality yet affordable ingredients will help you manage your production process without sacrificing your profit. A quality product at an affordable price is what creates a loyal consumer base while enabling you to make a profit.
2. Stand out from the Crowd
The global dietary supplement market is estimated to reach over $220.3 billion by 2020. As such, there are thousands of vitamin manufacturers all looking to monetize off the lucrative industry. If you want to be among the best vitamin manufacturers, you need to be different, in some respect, from your competition.
Whether it’s your price point, the quality of your product, or your product’s originality, there needs to be some differentiating factor that encourages consumers to choose your brand over the next one on the shelf.
3. Know Your Target Audience
Although 68 percent of Americans use vitamins, different demographics use vitamins for very different reasons. The largest demographic of vitamin users are women over the age of 70. Older demographics tend to favour vitamins that treat illnesses, whereas the younger demographic uses vitamins as a preventative and cautionary measure. With this in mind, it’s important to know how your product can appeal to each demographic and how you should proceed in marketing such products.
4. Don’t Settle for Low-Quality Equipment
While it may be a large upfront investment, you should never settle for sub-par equipment. With the right equipment, you’ll be able to maximize your production process’ efficiency, while keeping up with the best vitamin manufacturers.
New and innovative equipment offers unique solutions to a variety of challenges in the vitamin manufacturing industry. From digitally controlled to all-inclusive machines, your production process (and your wallet) will thank you for investing in high-quality equipment right from the beginning.
5. Get the Most from Your Equipment Supplier
While you want the best machines from your equipment supplier, their services shouldn’t stop there. Half the battle of choosing an equipment manufacturer is finding one that offers high-quality products and services. These services can include turnkey solutions, operator training, and preventative maintenance. If your current equipment manufacturer does not offer you these services, it may be time to start looking for a new partner.
6. Packaging Matters
When it comes to the vitamin industry, it’s not just about the quality of your product (although that is extremely important), but it’s also about how your product looks. Whether it’s the product itself or the outer packaging, consumers are drawn to specific characteristics over others. Colour and package design can help keep your product competing with the best vitamin manufacturers.
7. Listen to Feedback
What your consumers say about your products is important. Customer feedback is a crucial channel for you to continue to modify and improve your product along the way. If you listen to your customers, you can understand how your product can appeal to more consumers, so you can continuously grow your customer base.