5 min Read
Every successful business needs a Plan. It is the blueprints of unfolding, implementing, and execution that determine whether you'll have a vacation this year or not, let alone a luxurious one.
Even though the competitive cosmetic industry is on a boom with no signs of abating anytime soon, when I say competitive and boom, you dare not translate it into a "healthy competition that leads to a boom of your fortune," but rather Makeup and Skin Care industry is a fierce battleground where triumph and treasure are of those who are always on toes.
So before you step in, hold on behind the closed door, breathe in and breathe out, calm your nerves, check your essentials, and repeat, "I'm ready to shine, I'm ready to Shine," knock the door and let your confident steps silenced the murmurs. But how will your products glow like you always do? Simple, just a few effective measures, and then see how your products make it to every warehouse, retail store, makeup room, and kits, and then eventually to SOLD OUT!
So let's dig to discover the hidden gems:
Who doesn't want even a small booth at the center of Sephora, Selfridges, or Duty-Free? Almost every other entrepreneur asks himself, "Could my naïve business afford these heavy retailers?" In an attempt to jump, don't risk your chance of walking—approach small to medium-sized retailers as your first client. Tell them how your brand blends with their store, why your products are worth displaying, and what makes the customer fall for them.
Remember, not many giants support smaller, and some might ask for their lion's share, too, so begin with small. Eat pie today to enjoy the cake tomorrow.
How will you propel yourself where you wish to see your products in the world of glam and glow, already dominated by Huda, Kylie, Rihanna, and Emily? Will you go by trends, or will you dare challenge the norms? Consider these questions before you take your big step.
Innovation, be it in packaging, ingredients, application, or technology, is always cherished. Your consumers want value beyond profit; they are already bored with "all-natural, skin protecting, laser technology" and blah blah fads. Present them something unique, still budding, and yet meant to be in vogue not for months but years and decades. Something that is "vegan, cruelty, and gluten-free;" ideas that are until now new but will drive the makeup industry tomorrow.
Once you have hatched from the egg, it's time to explore, build and connect. Contact with the potential distributors or retailers and build a strong network. But this is not a matter of a day or two, so ensure you have targeted your perfect match before you approach. You could either send them a private message or an email, but what a cup of coffee could do, no one else can! This is where persuasion power comes into play, which is impossible to dumb.
Remember that you are not on the table to market your product, but consider this an opportunity to get recognition, acceptance, and endorsement. This stage is your first (but don't make it the last) chance to tell them about your product, mission, terms & policies, and quotation; therefore, make it simple and robust. So, in the end, when you exchange a hearty handshake, they have your pricing list, and you have your first order. Hurrah! You made it.
There is no denying that today, with the rise of online B2B platforms, traditional brick-and-mortar has lost much of its worth and revenue. With easy accessibility, handy features, far and wide reach, and many innumerable advantages, conventional trade and commerce are rapidly losing to e-commerce websites. Notable to mention is Beautetrade.
A renowned B2B portal that has seen an influx of traders in recent years cites
"Although we have been experiencing a shift in consumer behavior for quite some time, the recent years especially the one driven by pandemic has put us many folds forward."
Much of it contributes to the quality, services, and ease this platform provides. Beautetrade, a niche dedicated site solely committed to serving beauty and its cause, connects a massive directory of verified manufacturers, suppliers, and buyers from across the globe. With an easy-to-use interface, interactive features, free sign-up access, and quality services, this medium has transformed the traditional means of trade and commerce. What adds to its many advantages is the 24/7 support system, which is impossible to imagine in a brick-and-mortar one. This makes it the uncrowned king of e-commerce.
So, though having a firm ground presence is good, a virtual one will give you an edge over the rest.
Gone are the days when social media platforms were just a means of socializing. Today, they have transformed into a full-fledged market where people sell, buy, recommend, and endorse products from vast domains. Ensure you maintain a dominant presence on Facebook, Instagram, Twitter, or YouTube. Find out which virtual platform has the highest conversion rates, create your brand's persona, and post cohesive content, compelling visuals, and trending Hashtags there. Give your followers their due attention and make them feel respectable by responding to their comments, feedback, and messages. This builds a bond that lasts long.
We all remember Nike by its Tick, Puma by its Jaguar, KFC by its Old Man, Starbucks by its Lady and many such big names by the distinctive and fascinating logos that they possess. Take a lesson: design a logo that makes you stand out among your contemporaries and competitors.
A logo is at the heart of every brand's image, values, and mission and is a means of conducting professional business; therefore, create one that is a treat for dull eyes, speaks volumes about your company, and represents and differentiates you.
A small counter, booth, or flyer distributed in a much-hyped cosmetic business event could do wonders for your brand. Prepare beforehand! Search for the right venue, which you plan to target, and how you'll display, attract, and convince passersby to stop, look, and listen to what you have to offer are some pointers to consider before you take on this opportunity. Even though it is expensive, the bonuses you'll reap would be worth the effort. This initiative will gain your brand awareness, acceptance, sales, networking opportunity, and exposure, so if it demands a few bucks today, don't hesitate to invest. You never know if today's few bucks could be tomorrow's many billions.
And in case you need to mark your calendars about the upcoming tradeshows, then visit Beautetrade For all the latest updates.
Very few industries pinch on the customer's urge to try before Buying; cosmetics happen to be one. Your customer-to-be would want to flaunt your product and flirt with the mirror, and if the clicked mirror selfie fits her set standards of Insta story, then only it will make it to the cash counter.
Hence, it is wise to provide product samples so the customers can touch, wear and feel them. This encourages value and prompts the buyer to explore more and more products without the fear of paying a single penny.
Human beings are innately attracted to offers, discounts, and promotions. We are born with the instinct to sense flat, up-to discounts, buy-one-get-one-free offers, and products on promotional codes. Marketers effectively use these strategies to lure customers and motivate them to purchase before the discount or offer ends.
Using these tactics to encourage customers and enhance your sales is best. You could choose either keeping some percent discount or offering a gift on some extent's purchase both will bring money in any way.
With the rise of celebrity endorsement culture, YouTube review videos, and a 5-star recommendation scale, decision-making is becoming more complex and dependable. People today often buy a product not because it appeals to their senses but because it has a 5-star rating, an XYZ celebrity wore it in her recent shoot, or just because a close acquaintance recommended it.
This makes it compulsory for you to request a review or recommendation from the most followed experts in your industry, increasing your chance of exposure to their massive number of followers.
With this, we come to the final words of this 5-minute read. We have listed some effective strategies above, but they won't be effective until and unless you decide to make them one. Start small but dream big, envision where you want to see yourself and give every bit of your being to place you there. No big success is earned overnight; it takes one's self, time, sweat, and blood. Introspect, are you ready to sacrifice this if it's a deafening YESSS! Then go ahead; a kiosk in the center of your favorite store is staring at you.
Best of Luck. Hope to see you on shelves near us soon!