What Your Business Can Learn From Beauty Brands
For any business looking to last and connect emotionally with their consumers, the beauty industry is a great place to look for inspiration. According to Inkwood Research, the global beauty market is predicted to grow from $432.7 billion in 2016 to $750 billion by 2024.
With so many new beauty brands emerging and making a name for themselves, the sector offers useful insight into branding; it is inherently experiential and personalized. With such a diverse customer base, yet individualized products, the industry has to know how to speak directly to its audience. Luckily, the beauty industry can use the aesthetic nature of its products to its advantage to attract customer engagement.
So, what can the beauty industry teach other businesses about branding?
Let’s take a look at some of the major lessons that can be learned.
Tip 1: Get the Basics Down
People are naturally visual creatures. In fact, 80% of people recognize brands by their colors alone. This means that from the get go, design, such as logos, color palettes, typography and the like, is of top importance in growing brand awareness and creating a brand’s DNA. But, that’s not all that matters.
Just as important as logos and colors are, packaging design defines the tangible experience a customer has with a product. That’s why it’s necessary to make it both functional and aesthetically pleasing for the user experience.
If your business isn’t product-related and rather offers a service, your website (and customer service experience) is your product as it serves as the face of your business. This means that a user’s experience and digital journey with your business is of utmost importance.
Tip 2: Post-Demographic Consumerism is Now
Consumption can no longer be defined or constrained by limited demographics, such as age, gender, income, etc. as individuals are creating their own identities more freely than ever before.
So, what does this mean for brands and their marketing strategies?
This shift to post-demographic consumerism makes it necessary for the brand’s voice to talk directly to its consumers, rather than groups. With the rise of information and sharing, society’s models are fluid and ideas are always shifting.
Here are a few ways to achieve success in the new age (adapted from TrendWatching):
- Embrace the changes: support and be aware of gender, racial, cultural and sexual shifts
- Be flexible: be willing to re-examine your brand’s stance as time evolves and the status quo changes
- Niche marketing: focus on smaller niche markets rather than cohorts
- Seek inspiration everywhere: look outside your target demographic to try new approaches and find cross-demographic inspiration
Tip 3: Social Media Status Matters
Since the beauty sector is so popular on Instagram and social media, companies are taking serious approaches to connect directly with customers on the platform and even showcase user-generated content.
For example, startup beauty brand Glossier turned a content site into a commerce site and gained a cult-like following in the process. When Into the Gloss’ (ITG) leader Emily Weiss flipped the switch from blog to e-commerce, Glossier already had 184K followers on Instagram. How does Glossier accomplish such a loyal following?
By being real.
Rather than opting for expensive photoshoots and celebrity faces that are photoshopped, Glossier’s social media is relatable and often shot on a camera phone, using features like Boomerang, just like their customer base does. The beauty brand also speaks directly to their consumers, with humanized, humorous and relevant content.
Like their competitor NYX, and other beauty brands, Glossier highlights user-generated content on their feed. They’ve also found that 70% of their customers’ purchases are from peer referrals, which means that they recognize the value of using their customers’ content to be the faces of the brand.
Ultimately, your audience is everything.
Tip 4: Partner Up
Ripping a page from the beauty industry’s involvement in the health and wellness industry, many businesses work well and grow more rapidly in conjunction with others. An example is how Oribe Hair Care is now a featured product in Barry’s Bootcamp locations. The key of finding the right partnership is to have the same target audience, but offer different products or services. For this reason, spas and physical therapists can make for a good partnership. Or, let’s say, a branding studio and PR agency. In all cases, these businesses provide adjacent services and, therefore, they complement rather than compete with one another.
Businesses are built on their reputations, and reputations are born with branding. A brand’s identity and recognizability begins with its logo and color palette and expands with what it stands for – from the way it conducts business to its marketing efforts and communication with customers.
The beauty industry knows that it all matters – from product quality to customer service and experience, and that’s what makes it such an inspiring industry to learn from.
Which one of these tactics can you business try for starters?
If you’re looking for assistance with your branding or marketing efforts, feel free to reach out to us for a complimentary consultation!