The health and wellness industry has been rapidly growing in recent years, and it shows no signs of slowing down. This is never more true as we approach a new year when many look to start the year on the right foot thereby turning to health, wellness and fitness brands to aid their new found commitment to mind and body.
I don’t know about you, but after the quantities of pigs in blankets this writer consumed this past December, physical and mental betterment is high on the priority list for 2024.
This article does contain sneaky tips and tricks for any business that experiences seasonality. So, not a Health and wellness brand? Still read on…
However, for health and wellness brands, relying on seasonality alone is not enough and instead, must focus on strategies that will allow them to both capitalise on the increased attention (and therefore competition) at the start of the year, as well as think about long term customer retention.
Through developments in data analytics, marketing practices and access to vital business lifelines such as funding, businesses in this industry have the opportunity to achieve success more than ever before.
In this article, we will explore the key strategies that ensure ‘New year, new me’ isn’t just a cheesy slogan of your customers but also an approach your brand can take to smashing 2024.
The power of data analytics
As will become evident throughout this article, data analytics should touch everything that you do to decide upon best practice and most effective approaches for propelling growth.
The analysis of customer behaviour provides valuable insights into emerging trends, enabling brands to tailor products and marketing strategies accordingly.
Personalisation, facilitated by data segmentation, enhances customer satisfaction, fostering brand loyalty.
Predictive analytics assists in anticipating future trends, granting brands a competitive advantage.
Data when structured correctly and monitored can optimise marketing strategies by measuring campaign effectiveness and refining messaging based on performance metrics.
Efficient supply chain management is achieved through accurate demand forecasting and inventory optimisation, resulting in reduced operational costs.
Embracing data-driven decision-making is imperative for health and wellness brands to navigate the dynamic market. It not only allows them to stay attuned to consumer preferences but also facilitates proactive adjustments to meet emerging trends.
By leveraging data analytics in 2024, health and wellness brands position themselves for sustained growth, operational efficiency, and a competitive edge in the evolving industry.
The importance of branding
Speaking of brand success, in the crowded health and wellbeing market, branding is more important than ever. 2024 is predicted to be a huge year for the resurgence of brand marketing so it is important to invest in a strong and credible brand image.
This is something that Hunter & Gather know all too well as they made a conscious effort to invest in their brand very early on. Everything from their mission to their products, their packaging to the marketing was designed with the customer in mind and how they could deliver on the brand promise of making choosing healthier food options easier for all.
And it has worked a treat with Hunter & Gather going on to countless successes, disrupting countless food categories and becoming a brand trusted by millions to provide the highest quality ingredients and put the health of the customer first.
Branding is a crucial credibility and trust builder that can aid businesses to attract and retain loyal customers. As a health and wellness brand, be sure to invest in your brand in 2024.
Health and wellness marketing strategies
Digital marketing
Digital marketing is the lifeblood of many ecommerce brands and tends to be particularly effective when it comes to health and wellbeing brands. It is important to create a strong online presence to ensure you are in the best possible position in Q1 to capitalise on the spike of people looking to be their best selves. New year, new me and all that!
Leverage social media
Social media is an infinitely powerful tool. It can promote products, highlight success stories, build communities, educate and so much more. Ultimately, a robust social strategy will provide health and wellness brands with a positive impact on their sales revenues in 2024.
We could speak forever on the applications of social media and the various channels that fall under the umbrella. Instead, we are going to highlight 3 key ways we think health and wellness brands can use social media for maximum impact.
- User generated content (UGC)
UGC is vital for health and wellness ecommerce brands as it provides authentic, relatable, and trustworthy content. The personal nature of health and wellness journeys makes UGC particularly powerful, showcasing real people's experiences with your products. This social proof builds credibility and emotional connections, fostering a sense of community around your brand. Just make sure it is authentic…
It also acts as an extension of the vitally important customer review channel. With social proof and experience being such an important factor, especially for first time buyers, UGC and authentic reviews will aid in customer conversion.
UGC is also hugely cost-effective, offering diverse content types and engaging users in challenges or contests. It serves as a feedback mechanism, providing valuable insights for product improvement. Additionally, UGC adapts well to social media trends, aligning with platforms like Instagram and TikTok where peer-generated content is highly valued.
By leveraging UGC, health and wellness brands can create a dynamic, engaging narrative, showcase tangible results, and build a loyal customer base that not only buys products but also actively advocates for the brand.
- Social commerce
With various leading social platforms turning into fully fledged marketplaces, it is no wonder that social commerce is going to play a greater role in the sales matrix for health and wellness brands well into 2024 and beyond.
Particularly for the younger generations, platforms like Instagram and TikTok have become a one-stop-shop where curious consumers are turning for product discovery, comparison, brand engagement and, crucially, purchasing. All through a singular app. Growth in this area shows no sign of slowing either with an eMarketer report finding 84% of consumers saying they’ve made a purchase directly through social platforms.
Therefore social commerce success relies on two crucial elements, both of which are equally important to get right if you are to attract high intent customers.
- The way in which you speak to and engage with your audience (more on this below)
- The infrastructure set up of your social storefront - check out SimplicityDX’s guide here
Get it right, and watch the orders flow in.
- Educational content
Educational content is a pivotal way to foster trust and authority. But the benefits don’t stop there. It can also be used to contextualise your product offering through addressing health and wellness concerns therefore empowering consumers to make more informed decisions. This in turn differentiates your brand from competitors who are simply trying to ram product down the throats of consumers.
Freja Foods is a great example of this. They have a dedicated section on their website entitled ‘Learn’ which houses content that compliments their offering.
They also use educational content to provide recipes that provide actionable ways in which consumers can use their products beyond simply drinking it. All in all, they have created additional ways to support their customers and community beyond providing excellent products.
Pivotally, they also turn this educational content into highly shareable social posts and use it cross channel to further foster conversations within online communities and contribute to long-term customer relationships.
Freja's example shows that, beyond sales, educational content enhances customer engagement, showcasing a commitment to well-being.
Educational content also has huge SEO benefits as well, contributing to improved search rankings. Which leads nicely onto…
Search Engine Optimisation (SEO)
SEO is a battleground. Every health and wellness brand is looking to edge searchability and discoverability in their favour and come out on top of the google rankings.
However it is a big task and one that has a multitude of steps. Below is a checklist of the things your brand can do to improve your rankings and raise your SEO game.
- Hunt for those keywords. For landing pages and blog content, try to find those keywords that aren’t fiercely competitive but will yield results as often it can be a fruitless endeavour trying to compete with the industry giants on highly competitive keywords so better the find that low hanging fruit.
- Optimise website speed, structure and navigation. Clear menus, logical flows, internal linking and more should create a seamless navigational journey for visitors. In turn this will boost SEO as search engines reward websites with great user experience
- Content is key - create high quality, informative and educational content that is relevant to your offering. Can take many forms such as blogs, checklists, how-to guides and more. Use keywords, make it shareable and make sure you use content to inform and educate rather than sell.
- Keep an eye on those search engine algorithm changes. Frequent updates means you have to stay on top of what will positively impact your domain authority and credibility.
- Find off page opportunities. Level up your link building game by seeking high quality back linking opportunities via guest posting on authoritative health and wellness websites and publications, collaborating with industry influencers and exploring knowledge sharing opportunities with strategic partners or complementary brands.
Now we have only scratched the surface there but by fine tuning these building blocks, you will be on your way to improving your SEO efforts. However, it is important to remember that it is not a sprint. It isn't even a marathon. It is a running race with no end. So keep putting one foot in front of the other.
The importance of personalisation
It’s highly competitive out there and in today’s digital age consumers expect, and are more likely to be won over with, a personalised experience from brands they are considering. This is especially true in the health and wellness industry, where customers are looking for products and services that cater to their specific needs and goals.
Personalisation in the marketing function can take many forms, each vital in pushing potential customers further down the funnel. Some of the more impactful elements of the marketing matrix to add personalisation into are:
Video Marketing
Video is a hugely impactful medium for health and wellness brands both through organic and paid means. With the rise of social media platforms like Youtube, TikTok and Instagram Reels, video has never been more important.
Personalising video can take many forms whether it be dynamic content, behavioural triggered content, geo-targeted, user data utilisation or more. Whatever way, or ways, you choose to personalise your video content, be sure to build brand awareness, educate your audience and expertly showcase your products or services.
This way, you will increase their online presence, attract new customers and differentiate yourself from brands in your space not investing in personalisation techniques.
Email Campaigns
Email has been a staple of the marketing world for years and remains an effective strategy for health and wellness businesses to date. However, if not personalised, all too often those emails can find themselves in the virtual trash can before you know it.
Segmenting your audience in such ways as stage of purchasing journey, demographics, preferences etc can help to provide a more tailored approach that will appeal to the individual customer's needs and interests.
Feel, the innovative supplement brand, have an ingenious way of doing this. Hosted on their website and across various other channels is a quiz that enables the brand to collect insightful customer data on what each individual is hoping to get from supplement use. Thereby they can provide tailored email comms to those individuals in follow up resulting in a greater chance their marketing will resonate.
Data collection also helps to inform when certain tailored email flows can be used such as abandoned cart sequences, or follow up offers and deals for those who have purchased.
The use of personalised email for health and wellness businesses works across the purchasing spectrum from online peruser to loyal customer and can help not only to convert new buyers, but also retain customers ensuring they feel like a valued member of the brand community therefore more likely to come back for more.
So send out more personalised email campaigns to customers and give your business the greatest chance of increasing customer engagement and driving sales.
Influencer Marketing
While not necessarily a personalisation play, influencer marketing can be a great way of leveraging an influencers social following and loyal community for your benefit.
Through creative collaboration, and taking advantage of the influencers' understanding of their community, you can ensure that the audience feels this product is made just for them in the way it is marketed, explained and displayed.
Through strategic partnerships with influencers in the health, wellness, fitness space, your brand can build trust and credibility with potential customers who will automatically look to emulate the results of the influencer thereby achieving a form of personalisation through authenticity and relatability.
Working capital funding for business growth
Now, it is no secret that the day-to-day life of running a brand has been becoming increasingly more expensive with each year that passes. With higher operating costs, minimum inventory order quantities on the rise, an increasingly competitive landscape and across the board price hikes, cash is always a concern for any brand.
Health and wellness is no exception to this rule. Funding and access to working capital could play a big part in ensuring you build upon your 2023 successes and stay ahead of the competition.
There are multiple funding options available whether it be seeking out angel investment, approaching VCs, crowdfunding or, plug alert, non-dilutive working capital loans or lines of credit from Uncapped.
What funding will allow is access to the working capital needed to go big on the costly marketing activity listed in the previous section, ensure inventory reserves are at satisfactory level, increase product offering, reach new markets and much more.
In 2024, health and wellness brands should seek out funding to actively support your growth plans and place the building blocks for long term brand success.
Conclusion
In 2024, health and wellness businesses that focus on data analytics, digitised and personalised marketing strategies and have access to working capital will have a competitive advantage.
By investing in and exploring these key areas, businesses can improve customer satisfaction, increase revenue, and drive business growth. It is important for businesses to continuously adapt and evolve in order to stay ahead of the competition and succeed in the ever-growing health and wellness industry.
Which is where Uncapped comes in. Get in touch today to access the capital needed to ensure you aren’t missing out on critical growth opportunities and set yourself up for success this 2024.
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