Nu Skin has been operating internationally for more than 2 decades, and here in the Philippines, they have been around for over 11 years and counting. For a company to be “branded” as a scam, that’s quite a bit paradoxical. By this alone, it can be proved that the company in 15th floor Octagon Building that many seem to point out negatively is a genuine legitimate business. Nu Skin has its one of the core ingredients in its business flavors, and that is “Branding”. Personally, I have worked on branding and by far, Nu Skin is one of the best companies I’ve seen that’s executing it very efficiently. Since its inception, Nu Skin presented itself in a logo of a Fountain – eluding it to literally as the“Fountain of Youth”, as flagship to their top of the line beauty products not only they that claim, but the consumers itself. And very recently, Nu Skin has unveiled a “new face” for both its corporate and brand identity.
This, to point some key reasons behind their recent move (A little insight also for many to be familiar with branding concepts which all companies actually do). Nu Skin has recently fast becoming one of the industry’s most highly recognized brands, and the consumer testimonies prove it greatly. And by means to say, in itself aggressively protects that brand-because logically, protecting the brand benefits the company, its employees, and its distributors. Brands have long been used as marks and symbols of identity, signifying pride of ownership, and power of association. The brand makes the company unique and communicates what it represents. Nu Skin, seen widely in their office in 15th Floor Octagon Bldg, uses its brand in a manner that should articulate the importance of people, product, culture, and opportunity. Image is always a key to success, and wherever they do business, their immediate goal is to ensure that their brand is represented with absolute consistency. In Nu Skin’s point, if high standards in identity and branding are maintained in every market, the image will foster trust— and loyalty. A point they have executed with accurate precision through the decades. As their Brand book stresses, a consistently executed image cements crucial bonds with distributors, customers, and employees. From the previous “The Beauty of Innovation”, their branding establishes the new corporate identity and strategic positioning – THE DIFFERENCE. DEMONSTRATED.
On the slopes of market environment, particularly the local and overly “negative” competitive landscape, the company tackles the following through its brand. Nu Skin is a network marketing, a fact they do not deny. And by saying so, it is a subset of direct sales. The primary audience is the direct sales distributor force (those of whom many are familiar with from the 15th Floor Octagon Building), making their customers the company’s secondary audience. Today, the network marketing industry continues to grow globally and across product categories. As they state from their corporate books which I have gathered, growth in the industry is due to two main factors:
1) An increase in individuals seeking job flexibility, income supplementation, and more control of their income generation; and 2) an increase in traditional retailers moving to direct sales as a distribution channel due to flexibility, agility, and a return on minimal advertising investment.
From 1997 to 2007, sales trended up globally. Overall growth rate for the 10-year period was over 35 percent, and trends continue to indicate a steady 3.5 to 4.5 percent growth rate for the next several years.
Since the company was founded in 1984, Nu Skin reached over one billion dollars in sales in just under two decades through aggressive product and market expansion. As of2008, Nu Skin does business in more than 48 markets—more than 60 percent of revenue comes from North and South Asia combined—and offers a combined brand portfolio of more than 400 products.
Now, on with Nu Skin’s strategic direction – THE DIFFERENCE. DEMONSTRATED.
This is what the company states their new strategic direction for the next decade. In 2007, they have concluded the most comprehensive marketing research effort in our history: with more than two years of global qualitative and quantitative research, including distributor and executive interviews, focus groups, and a global survey of 2,500+ distributors. The research culminated with a new strategic positioning for the company: THE DIFFERENCE. DEMONSTRATED. In a world filled with hype and exaggerated marketing slogans, they commit on backing up claims with substance.
They launched this new strategic positioning to the distributor leaders at their global convention in September 2007, and rolled it out globally to 48 markets in 2008 (including here in the Philippines), along with an updated image and identity that better reflect the brand attributes and personality of the company.
Core to its new strategic positioning is demonstrating their difference—competitive advantages—through their people, product, culture, and opportunity. In addition to the new positioning and new fountain icon, they have made the strategic decision to not include “Enterprises” in the new complete logo (as it was formerly presented as Nu Skin Enterprises). Countering the negative perceptions of such industry locally, they are focused on clearly demonstrating the claimed difference. If an experience, service, or product doesn’t demonstrate how they are indeed different, and by extension better, then they simply don’t do it. By promising they can demonstrate difference, they are promising the best people, the best products, the best culture, and the best opportunity in the industry.
The point being, by writing all these information about Nu Skin’s branding and corporate identity, is to somehow stress the fact that they are a company legitimately focused on people, products, and genuine opportunity. A point that is not clearly understood by many in this industry. They are in continuous innovation and progress that many misunderstand. They are a company responsible not only for its products, its customers, but for its distributors who are their primary workforce. Shedding some facts further to communicate to those who negatively see the company at 15th Floor Octagon Bldg.