Launching new digital business lines in consumer health through start-up investments and partnerships
The ventures focused on key under-addressed markets such as the global ageing segment, fem-tech, and taboo markets.
The consumer health divisions of large corporates such as J&J, GSK, Bayer, and Reckitt Benckiser are facing unprecedented competition with the rise of startup e-commerce and telehealth businesses, which are in line with current consumer unmet needs, and are capturing consumers through better a user experience. In parallel, under-addressed markets such as ageing consumers (50+), feminine care, and taboo markets, present significant growth opportunities globally.
Our challenge was to identify these under-addressed markets (such as: sleep improvement, sexual health, teenage health, and the ageing market segment) and build data-centric ventures to reach the target audience through direct-to-consumer channels. Working closely with our client, we piloted a venture focused on helping women through the symptoms of menopause.
Sia Partners focused on turning strategic insights into tangible outcomes in the market. The results of the partnership with J&J included:
- Successful pilot of digital venture focused on menopause: lotushealthuk.com, which was tested with 20k users through social media platforms, and had click-through-rates six times higher than traditional consumer health products
- Secured buy-in from ex-Chairman of J&J EMEA to pursue venture
- Demonstrated business potential of venture to exceed >$100m
- Built pipeline of business ventures >$100m (individually) focusing on femtech, pregnancy, adolescent health, sexual health, and improving energy and mobility levels for the ageing market
- Recommended 5 start-up investments and technology partnerships to extend the reach of the External Innovation function at J&J