10 business lessons from the Wellness Exchange

10 business lessons from the Wellness Exchange

Posted: Fri 30th Mar 2018

On Friday 23 March, 100 wellness businesses gathered in London for the Wellness Exchange. The one-day event saw a range of retail buyers, entrepreneurs and experts give tips on how to grow a business in the wellness industry.

In this blog, we share our top takeaways from the event.

Make it easy for the consumer

Harry Thuiller, co-founder of Oppo Ice Cream, told attendees not to make their consumers think too much in order to make a purchase.

"When we created a healthy ice cream, we could have tried to make the packaging completely different from normal ice cream because you'd think it would stand out.

"However, it's better to make the consumer think less and not make the product look too different from others they may already buy."

Packaging is key

This was a running theme throughout the Wellness Exchange, particularly highlighted by the retail buyers who took part.

Zoe Brady from John Lewis said packaging is a key point for her when looking at products. She explained brands should look at their competitors' packaging, and other packaging of products in store.

Don't fear rejection or failure

Alex Hind, co-founder of Go Sweat, explained that launching his business has been like trying to launch a rocket and it has taken a few attempts to get it right.

He shared the importance of not giving up in the face of rejection.

Influencers are important but make sure they are authentic

Stephanie Peritore, founder of Mindful Bites, explained the importance of choosing influencers who match your values as a brand and whose followers would believe they were genuinely interested in your product. "Authenticity is key", she said.

Having a mission can be easy, but sticking to it is the hard part

Who is your avatar?

Nicola Dickinson, founder of beauty brand Fresh Therapies, shared the profile of her target customer, otherwise known as her avatar, and the importance of getting in the mindset of that person.

"My avatar is called Sarah. She is 35, drives a Ford Focus and I know where she shops."

Know your customer value journey

Great tips here from Caroline Sumners, Enterprise Nation member and founder of Fifty One Degrees:

Tell a publication why you think your product is relevant to their reader

This is totally different from telling a publication how amazing your product or service is. The PR panel emphasised the importance of knowing the publication well and making sure you explain why their readers might be interested in your product or service.

At the start, be fluid with your brand

Don't be polished; just start and be real. Kat Pitcher, founder of Yogi Bare, explained that the success of her branding has been more about being an authentic voice rather than appearing polished and perfect.

She has learned lots along the way and emphasised the importance of not waiting until everything is perfect in order to start.

Involve your community in your product development on social media

Alison Battisby, founder of Avocado Social, has this advice:

"Ask your community questions so they engage and tell you, for example, their favourite product or colour. 

"Not only will your community feel involved but it will also help your social media algorithms and your content will continue to be shown to your customers."

Enterprise Nation has helped thousands of people start and grow their businesses. Led by founder, Emma Jones CBE, Enterprise Nation connects you to the resources and expertise to help you succeed.

You might also like…

Get business support right to your inbox

Subscribe to our newsletter to receive business tips, learn about new funding programmes, join upcoming events, take e-learning courses, and more.