I love high value ingredients! These ingredients represent the future of the dietary supplement industry because they have the greatest chance to impact the health of the end-consumer. However, it truly amazes me how many ingredients suppliers have fantastic ingredients that they’ve invested in and developed, or that they are distributing for a company who has done the development work, and yet they seem to do so many things to literally sabotage the success of that work! The ingredient solution fails to get into the finished product marketplace…
I’ll be sending out a series of posts all about the “10 ways ingredient suppliers sabotage the success of their high-value ingredients solutions.” You’ll want to read through them to be sure you’re not sabotaging YOUR high-value ingredient sales AND stay tuned for the answer to any sabotage reversal.
Through the series, we’ll look at ingredient development beginning with inception all the way through to just prior to the first PO from a brand or manufacturer. The sabotage I see comes from within the ingredient supplier R&D team, marketing team or sales team or a combination of them all.
So to kick off the “10 ways ingredient suppliers sabotage the success of their high value ingredient solutions, the 1st way ingredient suppliers sabotage sales of high value ingredients begins at the clinical study design where researchers tend to focus on biomarker data only as their measurement for success.
1st way ingredient suppliers sabotage sales of high value ingredients:
Invest in a clinical protocol that focuses only on biomarker data
When looking at the finished product marketplace the majority of finish product sales have NO clinical studies (or at best, weak studies) on any of the ingredients in the final formula. Measuring biomarker data rarely translates into end consumer purchases. Which means, even if you succeed at getting a brand to put your ingredient in the formula it may not be a long-term recurring sale opportunity.
The path to overcoming this sabotaging activity of “only biomarker data” can be addressed through a converging of relationships at the ingredient supplier. R&D, Marketing, and Sales must collaborate to identify the end-consumer “transformational experience”. That identification provides the greatest opportunity to overcome the “only biomarker data” problem. While improving this one activity may not generate a big sale it provides a major step in providing the marketing and sales teams with the best support to effectively promote the product to the marketplace.
But I should warn you,the task of defining the end-consumer transformation can be overwhelming without an effective process in place. We’ll be touching on this process during the exclusive exhibitor workshop at SupplySide West titled:
This workshop provides a powerful process for taking an ingredient from development to sales in the most efficient way possible.
While customers may not be looking for your ingredient solution, and many will NOT want it, the “right” finished product brands that will launch your ingredient solution most effectively actually dream about your solution and have been waiting for you to show up…in the right way for them to move forward with a decision.
Stop struggling selling your high value ingredients and get to this workshop at SupplySide West!
And stay tuned… we still have 9 more ways ingredient suppliers sabotage high value ingredient sales to share and you want to be sure you’re overcoming them!