All Posts by Maddie Forbes

Guide to Customer Service for Your Supplement Business

Guide to Customer Service for Your Supplement Business

Great customer service is vital for every supplement business and should be considered a top priority. It is the key to customer loyalty and gaining new customers as well. Here is our guide to customer service for your supplement business. Is there anything your business could be doing better?

First and last impressions matter

The first and last things your customers see or experience can leave a lasting impression. This is where you should focus a lot of your attention. Do your employees smile and happily greet every customer? Is your website well-designed and easy to navigate? If you have a shop, is it always clean and organized? Do you have positive reviews online? If you answered no to any of these questions, you are not making customer service your top priority. Employees who do not smile and greet every customer should be trained or let go and replaced with kinder employees. Keep your local shops clean, especially at the entrance and right outside your entrance. Not only are first impressions important, but last impressions are as well. The last contact a customer has with your supplement business can leave a lasting impression and determine whether they will return.

Always apologize for mistakes

You may have heard the saying, “the customer is always right”. While it may not always be the case, employees should always apologize for anything that may go wrong. While it may be an inconvenience, companies cannot afford to lose customers just for the satisfaction of always being right. You and your employees should also always listen to and validate any customers’ concerns.

Related: Responding to Negative Feedback About Your Supplement Line

Complete transactions promptly

One thing that will upset many of your customers is waiting for too long. This might include long check-out lines, slow employees, or packages arriving late. Customers are being more and more used to instant satisfaction thanks to thinks like same-day shipping and instant online streaming. Focus on completing all transactions promptly and give customers a wider timeframe for when their packages will be delivered. Their package should arrive early rather than late.

Respond to customers promptly

An employee smiling at a customer

Not only should your transactions be completed promptly, but your customers’ questions and concerns should be also. By responding to customers quickly, you are conveying the message that every customer matters. Not only that, but it will also allow upset and angry customers less time to sit and stew. Address issues quickly before they get out of hand.

Following this guide to customer service for your supplement business will help you know how to take care of your customers. News travels fast, whether good or bad. Be sure your customers are happy and are only saying great things about your supplements.

Sources

https://www.forbes.com/sites/micahsolomon/2014/10/10/20-ultimate-tips-for-customer-service-week-2014/#62002ab72530

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What is A/B Testing?

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What is A/B Testing?

When it comes to marketing for your dietary supplement business, no stone should be left unturned. One tactic that is less commonly used is A/B testing. What is A/B testing? Simply put, it is testing two different versions of something to see which one performs the best.

How do they work?

A website open on a laptop

Most A/B testing is done using variations of website design. However, it can be used with other forms of marketing as well. Once you have your designs, you would need to split your audience into even groups. Keep in mind that people using a mobile device will most likely behave differently than people on a desktop computer. Try to assign these people to groups evenly, if possible.

There are a few different times when you might want to use A/B testing. One of the most common helpful times to use it is when you are redesigning your website. When designing a website, user experience should be carefully taken into consideration. You need to consider the way a person might interact with your website and what will catch their attention. You find this out by testing the placement of buttons, what image to use, and even different calls to action. Seeing what designs get the results you want will help your company know what website they should keep.

Related: Marketing Must-Haves for a Successful Business

Setting up an A/B test

Getting A/B testing set up requires planning and time. You will need a hypothesis and test objectives to find out which design is giving you better results. For example, if you want your customers to navigate to your online shop and make a purchase, you will need to design a website that will lead them there while also convincing them that they need your product. Having multiple objectives can help you see where your user experience is lacking and needs improvement.

There are multiple tools to help you keep track of what design is performing best. Here are some of the most popular tools to help with you’re A/B testing:

Google Analytics – Google has a free tool you can use to help with you’re A/B. This tool is great for those who want to get better results from their paid Google ads.

Optimizely – This tool helps guide you through optimizing your website so you can test designs that deliver the best results. It is used by big companies like Microsoft, IBM, and eBay.

HubSpot – This is a free tool you can use for A/B testing and optimizing your website. While it may not be the same software large companies use, it can still be effective for driving more sales.

VWO – This tool is very expensive but is used by many large companies. Disney, Target, Hilton, and many others all use this optimization tool.

Sources

Beginners Guide to A/B Testing

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How to Price Your Supplement Products

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How to Price Your Supplement Products

One of the trickiest things to figure out when you start a new supplement company is pricing your products. Having the wrong prices can discourage customers from purchasing from you. Either from your prices being too low or too high. Here are some tips to help you learn how to price your supplement products.

Make sure you are profiting

One of the goals of any business should be to make money. Without making enough money, you will not be able to cover costs or even expand your business in the future. This means that you need to charge more than what you paid for. This is the benefit of purchasing your products from a wholesale manufacturer. You can get a better deal on your dietary supplements and make more profit.

Related: Small Business Tools for Your Supplement Line

Keep track of the competition

A shopping bag

One of the most important ways to help you know how much you should be charging your customers is to pay attention to what your competition is charging. One mistake many business owners make is pricing their supplements lower than the rest of their competition. Not only will you not be making any profit, but you may even be scaring customers away. Having the lowest prices can come off as cheap to many potential customers. This may discourage them from purchasing from you and move on to a supplement that they believe is high-quality. It can even lead to other businesses lowering their prices to match, making it more difficult for you to raise your prices when you want to in the future.

However, if you want to sell at prices similar or even higher than your competition then it really just comes down to marketing. Whoever can sell the best is the business that is going to make the most money. This means that you need to take a closer look at your sales strategy.

Know what you are spending

Before you can decide what to charge for your supplement, you need to know how much you are spending. This will help you determine how much you need to charge customers to make a profit. You need to think about the cost of your supplements, shipping, store rent, and any other fees. Add up every business cost to find out what you would need just to break even. This is a great starting point where you can then decide how much to charge to make a profit.

Boosting Sales

Bundling products – One way to encourage sales is to create a bundle deal. By pricing one item low, you can draw in potential customers. When they see that they can get similar products for a deal, they may be encouraged to spend more. This can be a risk to lower a product so low and lose any profit. However, if it is effective, you can end up making more from the sale.

Odd numbers – Another sales hack is to use odd numbers to make more sales. An example of this is pricing a product at $29 instead of $30 or $39.99 instead of $40. This helps your customers feel better about purchasing because they may believe that they are getting a better deal.

Figuring out how to price your supplement products can be tricky. However, with the right strategy and planning, you can find the right prices to effectively sell and make a profit. To get your supplement line started, contact Matsun Nutrition for a quote.

Sources

https://www.inc.com/guides/price-your-products.html

https://www.shopify.com/blog/pricing-strategies

https://blog.hubspot.com/sales/pricing-strategy

social media that customers want to see from your supplement business

Social Media that Customers Want to See from Your Supplement Business

social media that customers want to see from your supplement business

Social Media that Customers Want to See from Your Supplement Business

It’s no secret that social media is such a vital tool for all businesses nowadays. With the number of users scrolling through Facebook, Instagram, and other platforms each day, it would be a missed opportunity to not utilize a business account. However, some businesses are more successful than others on social media. We will discuss the social media that customers want to see from your supplement business. Following these tips will help keep your followers happy on social media.

Respond to everyone

One of the best things you can do on your social media is to respond to everyone. This includes responding to comments, commenting or liking posts you are tagged in, and replying to messages. Every person who engages with your company is important. No one wants to be ignored. Responding to each person lets them know that you value every customer. This can go a long way for a lot of people, and they may be more willing to purchase from you in the future. Not only that, but they will be more likely to engage with your posts in the future. This allows your business to do better and be seen by more users according to the algorithms on Facebook and Instagram.

Quick responses

Not only should you respond to everyone, but you should try to do so as quickly as you can. This is especially important if the comment or message is negative. A quick response allows you to diffuse a situation before the customer’s anger sits and stews. For more tips on this topic, read our article, “Responding to Negative Feedback about Your Supplement Line”. Even happy customers can quickly become unhappy when a business takes too long to reply to their questions and comments. A good rule of thumb is to try and reply to all responses within the hour they were posted or sent.

Greet customers by name if you can

When replying to comments or concerns from people, it is important to be personable. Address everyone by their name when you can. This can help you to view each user as a person and allows them to know that you do.

Customer shout outs

Another thing many customers love is a shout out. This is one of the biggest ways you can go out of your way to acknowledge a customer on social media. One way you can do this by sharing a positive review they wrote. This will make that customer feel good and can even help other followers feel better about purchasing from you. Another thing you can do is share a customer’s photo on your story or even on your feed. Just be sure to get their permission before doing so.

There is so much social media that customers want to see from your supplement business. These are just some of the top suggestions that have seen positive results. Most importantly, you should find what works best for your business.

Sources

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Designing Content for Your Supplement Business

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Designing Content for Your Supplement Business

Design is what first attracts customers to your business. This can be the design of a billboard, an ad in a magazine, or even an ad on social media. When it comes to design and creating content for your supplement business, there can be a lot to know. Here are a few tips for designing content for your supplement business.

Design for the user

The most important thing to remember when designing content for your business is to think about the person who is going to view and interact with that design. That is why many companies hire user interface and user experience designers for website and app designs. These designers have been trained and educated on how people interact with content along with making things look nice.

Principles of design

Once you know how you want your customers to interact with your content, you should focus on the principles of design. These principles of design include:

A woman designing content on her laptop
  • Color – Color is one of the first things people notice. It is used by designers to create moods and feelings.
  • Balance – Balance in design is the concept of making things feel even. Design layouts have weight and when attention is only drawn to one side of the design then it is unbalanced.
  • Proximity – Proximity helps designers know where to place content. When content is spread too far apart with too much negative space, the design can feel empty and almost unfinished. Parts that are supposed to be grouped may even lose that relationship when too far apart. However, when things are too close, it can create tension. For example, when two different parts of a design are almost touching, the design feels off.
  • Scale – Scale is great to use for emphasizing different parts of a design. When one object in design is larger than the rest, it adds contrast and stands out.
  • Contrast – This principle of design can be used in many ways. Most often, contrast is used when deciding on color. Many people might think of complementary colors like red and green when thinking of contrast. However, any colors that stand out against each other can create contrast, like baby blue and black. Contrast does not only apply to colors but can apply to the size of objects in design as well.
  • Repetition – This is an important principle when it comes to designing for a brand. Repetition helps create a unified look by repeating specific elements throughout a design.
  • Hierarchy – Hierarchy is very important and affects the way the audience views and moves their eyes throughout a piece. You want the design to have a natural flow from one element to the next. You can create this using the principles previously mentioned.

Stay consistent with your brand

Once you have established your business and your brand, it is important to keep the design consistent. Consistency in design will help people recognize and even remember your business. This includes being consistent in things like colors, fonts, photography styles, vector graphic styles, and more. The most popular brands are easily recognized because they follow these rules of consistency.

Sources

https://www.weidert.com/blog/importance-of-design

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SEO Tips for Your Supplement Business in 2020

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SEO Tips for Your Supplement Business in 2020

With the new year, Google has been making changes to the way that websites are ranked in their search console. This means there are new marketing tactics for businesses to learn. Here are some SEO tips for your supplement business in 2020. While many of these tactics have been around, Google has been giving businesses who use these marketing tactics higher priority in their search results.

Expertise

One way for your supplement business website to rank high in Google is to have experts create content for any blogs or nutritional information. This will help give your business more credibility.

Related: Small Business Tools for Your Supplement Line

Transparency

Another way to earn the trust of potential customers is to be transparent about your business and your mission statement. One way to do this is to include an ‘About’ page on your website. This page should make customers aware of exactly who you are and what your supplements can offer them.

More Visuals

Visuals in the content of your website are becoming more important for audiences year after year. That is why it is important to create a lot of quality content for your website. Not only that, but you also need to be sure that content you add has alt text that relates to the image and the content on your website. Another way to include more visuals on your website is to embed videos. These can behind the scenes videos, information videos for your supplements, or even an FAQ video. Videos bring in a lot of organic traffic and are only expected to bring in more in the next couple of years. Google also shows videos at the top of their results, which is a great way for people to find you. One way to add videos to your website is to publish blog posts with embedded videos. Using transcripts in your videos will help as well, especially for those who are hearing-impaired.

Answering questions

Any post on a website needs keywords to help users find their website. However, with the popularity of voice search, posts that use questions and answers at the top of their pages have been performing well. One way to do this is to make your keyword a question and add it to the top of your page as a title. Then, answer the question right underneath. Google ranks posts that answer questions higher than others.

Keep Website Updated

Another thing you will need to do is keep your website up to date. A large majority of people online use mobile devices and the number of mobile users is only increasing. For this very reason, a business must keep their websites mobile-friendly. Most web designers nowadays even design and code everything mobile-first. Design trends are also always changing, so giving your website a facelift every few years will give Google a reason to rank your business higher in search results. Another way to keep your website up to date is to make your content shareable. This means that there should be buttons for sharing posts on social media or email.

These are the biggest changes Google made this year. By following these SEO tips for your supplement business in 2020, you will be able to give your website a better chance of attracting new customers to your website.

Sources

https://backlinko.com/seo-this-year

https://vintage.agency/blog/keeping-your-business-website-relevant/

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Responding to Negative Feedback about Your Supplement Line

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Responding to Negative Feedback about Your Supplement Line

In any business, you will deal with bad reviews and negative feedback from your customers. The same is true for those in the dietary supplement business. That is just the way it goes. While you do not get to choose how your customers react to your products, you do get to decide how you respond to it. Here are some tips for responding to negative feedback about your supplement line.

Acknowledge every issue

One of the most important things you can do is to acknowledge every customer. Never ignore a customer because it sends the message that you do not care. Every customer is valuable and should be treated as such. Even if a customer did not like a specific product, good customer service can leave that customer happy. Who knows, maybe they will even return to try out another product from your company! Many experts even suggest rewording their issue back to them when you reply so they know you understand and acknowledge their concerns. Doing this can go a long way.

Apologize to customers

Almost everyone has heard the saying, “the customer is always right!”. While it may not be true, you should always treat every customer as if they are right. One way to do this is to apologize for any issues they may be having even if these issues are out of your control.

Discuss the issue with customer privately

If the customer’s issue is not as simple as something that can be answered in a few sentences, be sure to have them get in contact with you so you can resolve it. A long response will only come off as defensive and look bad to the reviewer and other potential customers.

Make improvements

a woman sitting on her couch typing out a review

If you are continually receiving more bad reviews than good, it may be time to make some changes. Are your customers all complaining about the same things? If so, your answer to what you can improve on is right in front of you. Every business needs to learn how to adapt and grow. That is how they stay in business. This could be anywhere from changing the flavor of a product, the design of a bottle, or even the design of a label.

By responding to negative feedback about your supplement line appropriately, you are telling those customers and future customers that they matter. Your unhappy customer may even change their bad review just because of the great customer service you provided. To learn more about setting up a liquid supplement line, read the article here for more information.

Sources

https://www.forbes.com/sites/ryanerskine/2018/12/31/how-to-respond-to-negative-reviews-including-examples/#4b4581437534

https://www.getfeedback.com/resources/cx/negative-product-feedback/

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YouTube Channels to Help with Your Supplement Business

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YouTube Channels to Help with Your Supplement Business

Learning and improving your knowledge of the business world is so vital when owning a small business. The business world is cut-throat and will leave you behind if you do not keep up. Luckily, with the technology we have nowadays, knowledge and advice are out there for you to take and apply to your business. One great resource for this is YouTube. This social platform is full of thousands of videos for just about any topic. Here are some YouTube channels to help with your supplement business. Take advantage of this free knowledge and watch your business skills improve each day.

Marie Forleo

Not only is Marie a popular YouTuber, but she is also an author and a motivational speaker. She is full to the brim of business advice. She even runs her online business courses. This is a great option for people who love her channel and want to learn even more extensive knowledge about running a successful business.

Bryan Elliott

If you want to learn from a variety of successful business owners and other professionals, then this channel is for you! Bryan’s videos on Behind the Brand consists of interviews to give his audience the best expert advice. He finds out the reason for success for some of the most successful entrepreneurs. The entrepreneurs he interviews are also from a variety of industries, making it fun to find videos you are interested in.

Moz

If you love Moz then this YouTube channel will be fun for you to watch. Although they do not post often, these videos with the CEO of Moz are very helpful and informative.

Dave Ramsey

Most people know him as a financial expert. His videos are a great way to learn how to master finances for your business. Being smart with your money is so vital for your supplement business to succeed. Take his advice and apply it to your own business and maybe even your personal life too.

Robin Sharma

A man watching videos on Youtube

This best-selling author has a lot of great advice for entrepreneurs. His YouTube channels focus on motivation and how to change your outlook on life to become the best business owner you can be. Most of his advice comes from his own experiences and success. While the videos are not the most exciting, the advice is priceless.

To get started with your liquid supplement line, contact Matsun Nutrition! Read our article, “A Closer Look at the Supplement Industry” to learn how the industry is expected to grow in the next few years. Take what you have learned from these YouTube channels to help with your supplement business and apply them to your own.

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Small Business Tools for Your Supplement Line

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Small Business Tools for Your Supplement Line

Running a small business can be a challenge, especially as you begin to grow. To make things easier, there are a lot of tools out there to help. Here are some of the best small business tools for your supplement line. These are tools that many businesses swear by. You may even already use a few!

Dropbox

Need to store or share a lot of documents? Dropbox is what you need! Dropbox also makes it easier to access your files from any device that is logged into the account. This tool also offers other features for planning and collaborating. This is especially helpful if you have a team that works remotely.

LinkedIn

Just about anyone in the workforce has a LinkedIn profile. It is a great place to connect with people you know, share helpful information, find new employees, and even potential investors. If you do not already have an account, be sure to create one. LinkedIn is also a great place for people to endorse your business and your skills. One of the best perks, however, is being able to join a community you can learn and benefit from and share successes with.

WordPress or Shopify

These are some of the best places to host your website nowadays. If you plan to run a blog along with your supplements, then WordPress is the way to go. While shops on WordPress can be a little more difficult to set up, it is possible. Shopify, however, makes it easy to set up an online shop. It is built to do just that.

Google Analytics and Google Ads

To help people find the website for your supplement line, you will need Google Analytics and Google Ads. Google Analytics can help you see how much traffic your website is getting and what pages they spend the most time on. You can even find out more about the demographics of your audience. This includes where they are from, what device they are using, and more. If you need to create an ad campaign, you can use Google Ads. This feature helps you with keyword research to help you plan and bid on your next ad.

Slack

Need a quick and easy way to communicate with a team? Slack is what you need! You can create a discussion board for each project you are working on. There are many other features to help you communicate with a team as well.

PayPal

One of the most popular small business tools for your supplement line is PayPal. If you run your supplement store from an online shop, PayPal is one of the best options to help you accept payments. PayPal is designed to keep payments safe and secure. The process to link an account to your online shop is also very simple.

To get started selling your liquid supplement line, you can give Matsun Nutrition a call or contact us here. To learn more about our private label process, we have articles available to help you find out if we would be the right for you.

Sources

https://www.forbes.com/sites/tanyaprive/2012/10/18/20-must-have-tools-for-small-businesses/#6fb2da9e7e39

https://www.dropbox.com/features

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Email Marketing Ideas for Your Supplement Line

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Email Marketing Ideas for Your Supplement Line

It’s no secret that emails are an effective marketing tool. Many people spend their mornings scrolling through their inboxes. It is an easy way to grab the attention of people and guide them to your website. Here are some email marketing ideas for your supplement line to help you get started. To learn more about why you should set up email marketing, read our article, “The Importance of Email Marketing“.

New Product Announcements

One way to attract attention to your online shop is to announce new products. Especially if subscribers to your email list are already loyal customers. New products and information are exciting and as a business owner, you can play off of the customers curiosity.

Birthdays and Personalization

People love to feel important and everyone should. One way to do this is to send birthday emails to subscribers. Send an email wishing them a happy birthday and offer them a discount or other offer on their special day. Another way to personalize emails is to address each subscriber by their first name at the top.

Abandoned Carts

Many people love to browse online shops and add items they like to their shopping carts. However, many people will hesitate to purchase those products in their cart. Sometimes all they need is an extra push in the right direction. A few things you can do are to simply remind them their items are waiting for them. If an item in their cart is selling quickly, you can remind them to purchase it before it’s gone. You can even offer them a discount on the items in their cart.

Best-Sellers

Another way to help customers decide what to purchase is to make them aware of your best-sellers. Everyone wants to know that a product they are spending money on is reliable and effective. Compiling a list of just a few best-sellers might help drive even more sales for that product.

Holiday Discounts

One of the most popular email marketing ideas for your supplement line is holiday promotions. Offering large discounts during the holidays is a great way to drive sales. Holiday sales are effective because many people are already planning on spending money. Offer them gift ideas by putting together 2 or 3 products that work well together for a deal they can’t refuse.

Use GIFs and videos

Once you have your promotion planned out, you need to create content that is fun and engaging. Email newsletters can get boring, so a couple of ways to spice them up are to include GIFs and videos. Not all email platforms support GIFs, but if they do, they can be an exciting way to engage with your subscribers. For more marketing tips, read our article, “Marketing Must-Haves for a Successful Business“.

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Must-Haves for Your Supplement Business

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Must-Haves for Your Supplement Business

Starting a business is tough work, but very possible. The most important thing for any business is to comply with all laws and regulations. Following laws and making sure you have all the appropriate permits will help you avoid legal trouble and stress. Here are just a few of the must-haves for your supplement business. For more information, new business owners should contact their state offices to make sure they have everything they need to get started.

Establishing Your Business Name

A man signing a business permit

Once you pick out a name for your business, it is important to register it as soon as possible. Business names go quickly, so make sure you do not wait. Unless you are using your name, you legally must register for a Doing Business As (DBA). This will also help protect your business name from being taken and used by others. These business names are registered with a state or county clerk’s office. Keep in mind that the business name you want to use may already be taken. To avoid this, you can search before going in to register. Most states have their own database where you can search and check to see if your business name is already being used. Just search for a business name database for your state online.

Some businesses may go in a different direction to register their business and create a formal business structure. These include an LLC or a corporation. This is a great way to establish your business, protect it, and register the name all at once.

Bigger companies, on the other hand, may opt for a trademark. This is the best way to protect your company’s name. However, it is a lot more difficult to do. To even be considered for a trademark, you must apply and pay a fine. After that, the decision is up to the trademark office.

Required Permits

Once you have your business name registered and ready to go, you will need to get a business license for your company. Business licenses are separated by the city, so the process and fees will depend on where you are located. Contact the business license department for your city to find out what you will need. Some other permits you may need include:

  • Sales Tax License
  • Federal License
  • Health Department Permit
  • Fire Department Permit
  • County permit
  • Sign Permit
  • Air and Water Pollution Control Permit

Before getting anything started, you should speak with someone in the state offices about anything else you might need. These are only a few of the must-haves for your supplement business, State offices will have the best information for doing business in your area. If you still need assistance, business attorneys are always available to help. If you are ready to start selling your line of liquid dietary supplements, contact Matsun Nutrition to learn more.

Sources

https://www.entrepreneur.com/article/38882

https://www.legalzoom.com/articles/3-ways-to-register-a-business-name

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Best-Selling Supplements to Add to Your Shop

featured image for best-selling supplements to add to your shop

Best-Selling Supplements to Add to Your Shop

Are you debating what products to add to your supplement line? Here are some of the best-selling supplements to add to your shop. These five supplements have held their place at the top of the list for years. Read more about them and decide if these best-sellers would be a great addition to your shop.

Canine Glucosamine

Our dog glucosamine formula is hands down the top-selling product at Matsun Nutrition. This formula is used to help dogs who may be experiencing any kind of joint mobility issues. Since nearly 25% of all dogs will develop these issues, thousands of pet owners are continually purchasing these products for their pets.

Advanced Multiple

Most adults in the U.S. take multivitamins each day. In fact, one poll found that 71% of adults in the U.S. take them. This means the market is huge and even has more room to grow. A liquid multivitamin is unique compared to the thousands of capsules and tablets available. Not only that, but our bodies are better able to absorb the nutrients in liquid form.

B-12 Energy

With everything there is to get done each day, sometimes we all need an extra boost. Luckily, there are healthier ways to get an extra shot of energy besides caffeine. Our bodies use vitamin B-12 to help keep nerve and blood cells healthy. Many people who eat a well-balanced diet can get all the vitamin B their body needs. For those who don’t, vitamin B-12 supplements are a great way to help. Vitamin B-12 is also a water-soluble vitamin, so anything your body does not need will be flushed out. This makes it a great vitamin to take every day without worrying about getting too much from food and supplements.

Children’s Complete Multi

Children also need the right amounts of vitamins and minerals for proper growth and development. That is why vitamin supplements for children are especially popular. The tasty flavor makes it easy for children to drink. Since it is a liquid, it can even be added to delicious smoothies for them or mixed into a couple ounces of juice.

Calcium and Magnesium

Another best-selling supplement to add to your shop is Calcium and Magnesium. Everyone needs calcium for strong and healthy bones. However, many people do not get enough of it. This can lead to things like joint pain or unhealthy teeth. Not only that, but calcium is also needed for proper muscle, nerve, and blood vessel function.

Sources

https://www.nutraceuticalsworld.com/contents/view_online-exclusives/2016-10-31/over-170-million-americans-take-dietary-supplements/

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Approaching Potential Investors for Your Supplement Business

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Approaching Potential Investors for Your Supplement Business

Something that any new business will need is funding. Without it, a business cannot function. While there are ways for new business owners to save their own money, they may need help from others. Whether the help comes from a relative, a friend, or a stranger, you will need to know how to approach them. Here are some tips for approaching potential investors for your supplement business.

Start with a Solid Financial Track Record

One of the first things you need to do is get everything in order. If you want anyone to give you the time of day, you should have a solid credit score. This helps prove that you are reliable and will be responsible for their investment. Be ready to defend your financial track record. For example, something like bankruptcy would scare away almost any investor.

Business Plan

Women meeting with investor in an office

Before approaching anyone about your company, be sure to have a solid business plan. Have every detail and every expense planned out. There are many ways to go about a business plan. Large scale businesses require a more traditional plan. Simpler businesses, like a line of dietary supplements, can be presented with a lean startup plan. A lean business plan should include:

Partnerships – You will need to present who you will be working with. This includes suppliers, manufacturers, etc. Include every single company you will be doing business with or have already done business with.

Marketing strategies – Present how you will market your products. Marketing is how you share what you have created with the world and bring in new customers. The business world is very competitive. What is your plan to make your business stand out?

Customers – Who is your target audience and how do you intend to reach that target audience? A product is not for everyone and some people are drawn to something more than others. You will need a solid plan for how to reach them. For more information on how to read your target audience, read the article here. You should also present what the relationship with your customers will be like. Will you be interacting with them through emailing, online or at a shop in person?

Cost – Investors need to know where their money is going. Figure out how much you plan to spend and what it will be spent on. Focus on the biggest expenses first. Plan how you will try to bring down spending costs and present your plan to your investors.

Revenue – This part of the plan concerns investors the most. How do you plan to make the money back?

Finding Investors

Once you have a plan in place and your financial track record is solid, you can begin to search for potential investors. Many small businesses first start with friends and family members who are capable of investing. Some other places to start are online platforms like LinkedIn, EFactor, Xing, Startup Nation, Plaxo, etc. Approaching potential investors for your supplement business will be tough. You will hear a lot of “no’s”. However, persistence and a solid plan will pay off. To get started selling your own line of liquid supplements, follow the link here to learn more.

Sources

https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan

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Biggest Business Mistakes

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Biggest Business Mistakes

Starting and keeping a business running is one of the trickiest things to do. It takes great ideas, money, time, and a lot of great customer service. While not every business is destined to survive, there are some things you can avoid. Here are some of the biggest business mistakes for you to avoid.

Don’t spend too much on untested marketing

At some point, every business will need to create and use a marketing budget. Without marketing, growth is pretty much impossible. However, you should be smart when it comes to marketing. In the past, a lot of large companies have spent too much money on one marketing campaign, only to have it fail. This ended up costing them a lot of money. Any marketing should be tested and start small. By starting small, you can see what works for your business without losing everything.

Don’t negotiate your budget

Budgets are very important for a business. Having a set budget will help you avoid debt and avoid losing any money. Many business owners, however, will negotiate their budget. Do not do this! Do not spend any more money than you need to. Negotiating your budget here and there will lead to a lot of money lost for things you need it for.

Don’t be too demanding

No one likes to follow or be around someone belittling and bossy. Do not act this way to your employees or even to yourself. Be a great leader by being considerate and appreciative of others. Your employees will respect you and will feel motivated to work harder and show up each day.

Don’t forget to build relationships

meeting with a customer

The customers are what make a business possible. Remember that. Focus on building solid relationships with your customers. Listen to what they want. Fix problems with your products or services according to what they need. It is also important to remember that small growth over time is one of the best ways to grow a business. Small growth gives a company time to keep up with customers and focus on pleasing those customers. A similar analogy is searching for new guests to invite to your party when you already have a home full of guests at your party who are bored and hungry. If they are not taken care of and entertained, they are going to leave the party. Focus on the people already at your party and others will naturally be drawn to it. To learn more, read our article, “Why Great Customer Service Matters”.

Losing track of expenses

Keeping things organized is vital for every business. Losing track of everything is one of the biggest business mistakes. Failing to do so can lead to unfortunate consequences and can result in misplaced information for taxes or even unpaid payments from customers. Keeping track of everything will help you know when and who paid what.

Sources

https://www.forbes.com/sites/jeffbevis/2019/09/26/3-small-business-mistakes-to-avoid/#229f08245139

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Is Selling on Amazon Worth It?

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Is Selling on Amazon Worth It?

Amazon is one of the most popular websites for making online purchases. Almost anything you need can be found there. While the world is living out their busy lives, they have become reliant on shopping online. Why get ready and drive to the store when you can have it dropped off at your doorstep? Amazon is so great! However, from a business standpoint, is selling on Amazon worth it?

Competitive

One of the first things you may notice about selling on Amazon is how competitive it is. As one of the largest companies, there are so many products available. Unless you have a unique product, there will most likely be many other products just like it. When selling on Amazon you also have less control. Amazon has strict guidelines on their listings that you must follow. On your website, you have complete control over your shop. However, this does not mean you cannot have both. Many companies that sell on Amazon also have websites or shops elsewhere.

Don’t Get Left Behind

With Amazon being such a popular place to shop online, you do not want to miss out. Amazon is one of the first places people search for the products they need. With the number of shoppers on Amazon, your products are sure to be seen. If you do not start selling your products on Amazon, someone else will. You might as well take advantage and sell your products yourself. It is also a great place to start if you are a brand-new company. Newer companies also have less reach since they are still being introduced and do not have a reputation quite yet. Starting on Amazon will give your company a better shot since the website already has a reputation and is trusted by millions.

On top of the competition, there are also fees for selling on Amazon. However, the amount of exposure outweighs the fees for many companies. Another thing many business owners appreciate is not having to worry about warehouse space. Sellers ship their products to Amazon, and they do the rest. So, is selling on Amazon worth it? For many, yes, it is. Dietary supplements are some of the best-selling items in the health category on Amazon. To learn more about how the industry is doing, read out article, “A Closer Look at the Supplement Industry”. Get started today selling liquid supplements on Amazon. Create supplements using your own formulas or sell the supplements already available.

Sources

https://www.forbes.com/sites/pamdanziger/2018/04/27/pros-and-cons-of-amazon-marketplace-for-small-and-mid-sized-businesses/#321a48736867

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A Closer Look at the Supplement Industry

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A Closer Look at the Supplement Industry

With the increased interest in health and wellness, more people are concerned about their health. There are more products and information available to help you. There are channels you can watch to help you cook and apps to help you work out. A healthy lifestyle is practically at your fingertips. There is also more knowledge about the vitamins and nutrients your body needs. However, with how busy the world is, eating a well-balanced diet can be a lot of work. Luckily, there are dietary supplements to help. Rather than growing a full garden or spending a fortune on fruits and veggies, you can take dietary supplements. There are supplements for more specific things as well, like joint pain or hair growth. With all the options available, is it a good time to join the dietary supplement industry? We’ll take a closer look at the supplement industry to find out.

How the Industry is Doing

In 2019, the dietary supplement industry brought in about $32 billion. It is one of the most successful industries in the world and is only expected to grow. By the year 2026, the industry is expected to grow to an impressive $349.4 billion. With more than 450 companies in the US, there is still room for more. The industry has also created an impressive amount of jobs, employing more than 750,000 Americans across the country. Although the industry is doing great, it is important to be aware before taking or selling any dietary supplements. Not all supplement companies are safe and honest. These are important traits to look for in a supplement manufacturer.

Something to look for in a supplement manufacturer is certifications. These help prove that dietary supplements are safe and healthy. A couple of certifications to look for are NSF and GMP. When a company is NSF-certified it means that it has been deemed safe through product testing. GMP, on the other hand, means that a company follows FDA regulations for manufacturing. These two certifications usually go hand-in-hand.

Liquids vs. Capsules

Most of the supplements available are in capsule or pill form. Pills and capsules may not always break and dissolve all the way, or even at all. This leads to an unreliable source of nutrients. However, supplements in liquid form provide better absorption of vitamins and minerals because they do not need to be broken down like a solid pill. Matsun Nutrition manufactures liquid vitamins, has been in business for years and is FDA compliant. This means the supplements are safe and healthy, so you can sell them to your customers with confidence. To learn more, follow the link here. Taking a closer look at the supplement industry will help you learn how much it is growing and if it is the right option for you and your business.

Sources

https://www.crnusa.org/resources/economic-impact-dietary-supplement-industry

https://www.marketwatch.com/press-release/dietary-supplements-market-size-will-reach-3494-billion-usd-by-2026-2019-03-11

https://www.fda.gov/drugs/pharmaceutical-quality-resources/facts-about-current-good-manufacturing-practices-cgmps

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