HomeIndustries7 Tips for Starting Your Own Beauty & Cosmetics Business

7 Tips for Starting Your Own Beauty & Cosmetics Business

The cosmetics market is expected to continue to rule the retail industry for the next few years. That means this could be a great year for those who want to try their luck in the market. That being said, starting a beauty and cosmetics business can also be harmful, if managed with poor planning. In this digital era, marketing is getting more creative, especially with the presence of marketing automation tools. Now that more and more makeup brands are emerging with creative marketing concepts and strategies. One of the strategies is to optimize your marketing efforts with the best Marketing Automation Software.

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If you are starting a cosmetics business, it is important to put effort into the marketing strategy, for example by utilizing an integrated email marketing software. Because so the launch of a cosmetic product usually attracts the public’s attention, putting efforts into the marketing strategies won’t hurt at all. Therefore, we can offer you the No.1 Marketing Automation system in Singapore to help you integrate marketing into an automated software system. Find out more about this software by downloading the pricing scheme calculations

cosmetics business

Despite uncertainty in the retail industry, the cosmetics business has skyrocketed. According to The NPD Group, a company that focuses on market research, the beauty businesses managed to contribute 45 percent of the industry’s total gains last year. So, in this article, we have put together a few tips that can be your guide to your journey in the beauty and cosmetics business.

1. Keep Up with Trends & Know What Consumers Need

You can’t run a successful cosmetics business without following the trends. If you want to be one step ahead of your competitors, then try to be more up to date than them. You can subscribe to a variety of well-known beauty websites to stay updated on their latest products.

Don’t forget to read a lot of fashion articles, watch makeup-related videos on YouTube, and keep up with beauty trends on social media. This will help you develop ideas for your cosmetics brand.

You can also conduct surveys to find out what kind of beauty products consumers currently need, what they haven’t gotten from other cosmetics brands, and why they choose to use makeup products from certain brands. This can help you innovate on your own products.

2. Discover Your Brand Personality

What kind of impression do you want to make when someone encounters your makeup brand for the first time?

You have to think carefully about the kind of brand identity you want to build. Do you want your brand to be known as an eco-friendly makeup brand? Do you want people to see it as a cosmetics brand that promotes women’s empowerment?

The majority of consumers want brands that care about social and environmental issues. Therefore, it would be great if you could take a stand on a social or environmental issue and engage your customers to tackle it together.

Also read: Brand Imagery: Definition and Interesting Facts That You Should Know

3. Add More Value to Your Products

Today, the number of beauty brands out there is almost countless and they are competing with each other to be the most remarkable ones. Figuring out what your competitors are doing will help you create better ideas. You can apply concepts that are similar to theirs, but try to add more value to your products.

You can take the example of Fenty Beauty by Rihanna. The newly-launched cosmetics brand successfully made a huge breakthrough by releasing a wide range of foundation shades that are more applicable to all skin tones, especially dark ones.

make up
Fenty Beauty offers 40 colors of foundation; something that previously wasn’t offered by other cosmetics brands

Rihanna figured out what other brands had not offered and what was most needed by women of color. Many dark-skinned women complained that they were having trouble finding foundation shades that perfectly suit their skin tones. Thanks to Fenty Beauty, now that more and more makeup lines are releasing diverse foundation ranges.

To make it easier to collect and record the storage of goods you will sell, you can integrate it with comprehensive inventory management software. The system helps to control the procurement of goods, manage orders, control inventory with automatic notifications when the stock starts to run out and provides an accurate estimation of stock requirements. If you are considering implementing this software, don’t forget to download the pricing scheme calculations beforehand.

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4. Go Where Your Customers Are

In this digital era, consumers use various channels to shop. Millennials who make up the majority of cosmetics fans can’t be separated from technology. Thus, make sure you make it easier for them to find your brand online.

Look at what Elizabeth Arden did. This famous brand has existed in the beauty industry for more than 100 years and was better known as a beauty brand for older women, but now they are targeting younger consumers by promoting their products through an e-commerce site and social media like Instagram. They even collaborate with a famous makeup application, YouCam App.

make up
Elizabeth Arden collaborates with the YouCam Makeup

In addition to selling your cosmetic products on your e-commerce site and social media, you can also sell them on multiple marketplaces. Adding more sales channels can help you increase brand awareness as well as your sales.

5. Deliver Excellent Customer Experience

Nowadays, consumers are not only concerned with products, but also with the experience they get. When you’re at the mall, you can see that people prefer to go to makeup stores that provide a great customer experience, for example through free beauty consultation or makeup services.

However, since almost all makeup stores have already provided the same services, you should think about something different. You can take a look at what Sephora does. The French cosmetics line provides an application called Virtual Artist that allows the customers to try their makeup products virtually.

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Virtual Artist by Sephora

Sephora also integrates online and offline experiences by allowing their customers to make purchases online and pick the orders up in-store. In addition, they also provide chatbots that help their customers find deals, make purchases, make fashion choices, and find products that meet their unique styles and tastes. With an innovative customer experience like this, it’s no wonder that their revenue increased by 11% last year.

Read the related article: 7 Retail Technology Trends You Don’t Want to Miss

6. Comply with FDA Regulations

Another important thing that you may not miss is compliance standards. Make sure that your makeup products meet safety standards and get approved by the FDA. Therefore, it is very important to test your makeup products first before releasing them to the public. Beware of ingredients that you should avoid in your cosmetics.

7. Choose the Right Brand Ambassador

Collaborating with influencers and making them brand ambassadors is commonplace for various brands to market their products. If you feel you have to embrace a brand ambassador to help promote your cosmetics business makeup brand, then choose someone who is relevant to it.

Don’t choose a brand ambassador based on their fame regardless of their reputation or their relevance to your brand. So, you have to make sure that they are able to be a good representative and help build a positive brand image.

cosmetics business

Then, if you still find it difficult to determine your potential cosmetics business prospects, you can use HashMicro’s best CRM system. The system helps you integrate potential prospects, increase lead conversions, and help carry out comprehensive monitoring of sales activity, from meetings to client follow-ups.

Also read: 6 Ways to Choose the Right Brand Ambassador for Your Company

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