If you’re the owner of a beauty company, then you know the meaning of competition. As a $445 billion industry, according to an article in Forbes, beauty is a highly saturated market, with consumers having access to a variety of products, brands, and experiences. Therefore as a business owner, it’s important to set yourself apart and attract a large following that is loyal to your brand. How can you continue to grow your beauty business? Let’s take a look.
1. Expand Your Product Line
A well-rounded product line that follows your brand personality is the first big step to attracting a strong following in beauty. Beauty can encompass many different areas — hair, makeup, skincare, hair removal — and it’s ok to focus on just one segment. However, be sure to provide a complex range of products and variety so that your customer has options, and your brand is more likely to reach a larger audience. Do market research to see what product offerings your competitors aren’t providing. This can be a great starting point to set your company apart — think about niche but popular trends like lash extensions and the products that go along with them, including primer and lash extension glue, which are cost-efficient but effective ways to add to your line.
2. Focus on Online Efforts
It’s no secret that the online space is where brands are getting the largest reach and collecting a loyal following. From social media to blogs, to SEO and web updates, beauty brands often build a strong personality online. With millions of users each day, your beauty brand must take advantage of the online environment not only to build a following but push conversions and ultimately grow your profits. When it comes to building a following, take to all social media channels and come up with a comprehensive strategy that incorporates ongoing content that keeps your audience thinking about your brand. It’s essential that your content forces users to engage, respond and—in a best-case scenario—buy something. Having a user-friendly e-commerce platform is also a must-have these days; many consumers take to the internet to purchase their items as they want a hassle-free method of shopping. Help your customers by creating an intuitive interface that flows smoothly on your website, updating them with regular emails and keeping them informed with consistent online communication.
3. Be Creative With Your Marketing
The beauty industry is a creative space, and your customers will expect you to stay true to this. Your outreach and marketing efforts will be a direct cause of business growth, so adopt a creative approach when coming up with marketing strategies. Alongside mainstream efforts like social media and print ads, utilize other sources like influencer marketing. Especially for the beauty industry, partnering with influencers will give you automatic exposure to their extensive following, and likely get more people aware of your brand. You could also try partnering with other companies that are in line with your brand personality, cause or values, or host events or have them post engaging tutorials with your products. Be sure to try new concepts and promote various products to keep your audience excited and intrigued by your company.
As a business owner in the beauty industry, growing your business can be a difficult but rewarding process. Whether you’re a new or established business, make sure you’re utilizing the above points to see a clear company expansion.