The UK’s electronic cigarette market is worth over £60 million, with over 50 per cent year-on-year growth. These huge numbers of growth, along with a shift in public attitude towards smoking traditional tobacco, led me to launch the UK’s first ‘designer’ brand.
To be able to make the most of an emerging market and to truly ‘bed-in’, it was imperative that the company launched with speed and precision as well as ensuring no corners were cut.
As a designer brand, our packaging and marketing had to be spot on, and despite the demands on our time, we were able to get the product rolling off the production line and onto the shelves of our suppliers at an admirable speed.
The aim with Salmon & Trout was to quickly become a market leader rather than following the crowd. Our ability to forecast the challenges we may have faced in the short-term has allowed much better preparation for long-term goals as well as allowing us a rounded view of the market and its potential peaks and pitfalls.
Additionally, the importance of timing was even more prevalent given the current pressure on the government to reduce the burden on the NHS, and e-cigarettes are a possible remedy to reducing the number of illnesses and diseases caused by smoking tobacco. With widespread changes in the market as a result of the government activity, it was important that the Salmon & Trout brand became established before the bigger players flexed their sizeable muscles.
More on Best Business Decisions:
- David Barker – Diversifying the client base and learning to say no
- John Bramm – Promoting the brand directly to the consumer
- Jeff Hughes – Switching operations to purely business-to-business
- Philip Letts – Listing on the Alternative Investment Market
Retrospectively, the best decision I took with this new start-up was to be proactive in the business’ approach to launch. We didn’t dither on the key decisions that can so often hold back the progress of a new venture and lose all sense of momentum. Instead, we were able to slot in to the market whilst it was still growing and we are able to share that growth to establish to brand amongst consumers and retailers.
As time has gone on, we’ve created a brand and product that we can be proud of and in doing so we’ve capitalised on a market that is regarded by many as a ‘one to watch’ over the coming months and years.