You might be surprised to learn that around 20% of small businesses fail within the first year. This can stem from a variety of factors, such as poor market need or mismanaged finances.
However, many companies also fail due to having a poor understanding of industry trends. This is especially true for beauty brands, as the beauty industry is highly competitive.
We’ve created a brief guide that outlines some of the most notable beauty industry marketing trends you need to keep in mind. Let’s examine some of the most important things to consider when moving forward.
The Use of AI
This is one of the most important trends to leverage. Artificial intelligence will play a large role in successful content marketing. For example, they can substantially increase search visibility by helping you research target keywords.
Additionally, it will make you refine each page on your site to get the most profit. Nonetheless, AI is not a generally automatic solution.
You should get yourself informed on how to operate it properly to realize the best results. In addition, there is a case where some individuals think that machine learning is a solution to any marketing problem they have.
AI programs are sometimes prone to giving inaccurate results, so you’ll need to fact-check the recommendations they make. For instance, it might incorrectly tell you that you should focus on a certain demographic. If you blindly follow its instructions, you could encounter a large number of issues.
Loyalty Programs
The use of loyalty programs has been fairly common in the beauty industry for decades. They’re highly effective for encouraging customers to make additional purchases from a brand.
They function by providing incentives or rewards for buying beauty products. For instance, customers might accrue “points” with each purchase that they can exchange for perks, products, or discounts.
In context, a customer could accumulate 10 points for every dollar they spend. They can redeem them for a discount when they have 500 points or more.
They could also exchange these points for exclusive products they otherwise wouldn’t have access to. These programs are great for brick-and-mortar locations, and using resources like the Blissyhire App can help you get started.
Omnichannel Marketing
With so much competition in the beauty space, it’s more important than ever to leverage omnichannel marketing. This allows brands to maximize the number of users they reach in their target demographic. This can substantially improve your marketing strategy performance and overall ROI.
This requires a substantial amount of research to be effective, though. Simply put, you cannot expect to treat your social media audience like the users who guessed your site on Google. Working with software that allows the integration of multi-channel marketing from a single dashboard is empowering when using omnichannel marketing.
This ensures two-way communication and reduces the risk of errors at the same time.
You’ll also need to budget appropriately for each marketing channel.
Don’t make the mistake of assuming they all require an equal investment. Depending on your audience, they may need more of your helping hand than others.
Augmented Reality
It’s common knowledge people want to visualize how things will look on them before buying. Augmented reality (AR) can substantially improve how many people buy your products.
AR will help them seamlessly view their appearance with certain cosmetics. This technology is nothing new, and we’ve seen it before in companies that sell glasses, clothing, etc.
However, it’s expected to be one of the most popular trends this year in the beauty space. You can research your competitors to gain insight into how they’re using it. From here, you can further develop your strategy.
Personalized Marketing
Most people love to buy products, but nobody wants to feel like they’re being sold something. Personalization goes a long way toward maximizing conversation rates.
You can include this in various ways, such as through emails, purchase suggestions on their account, etc. You should ensure that the personalization you incorporate is effective, however.
You won’t get very far if you recommend products or information your customers aren’t interested in. A great way to get started is by offering products based on their past interactions with their brand.
This means analyzing their previous purchases, items they’ve viewed, and items they’ve left in their cart. Even something simple like sending them a list of products they may like can improve your sales numbers.
Inclusivity
In the past, the beauty industry wasn’t always the most inclusive. This is especially true concerning makeup palettes, as some customers felt their skin tones were overlooked in favor of others. Today, though, it’s customary for brands to be as inclusive as possible.
Not only does this allow them to satisfy a larger audience, but it also preserves their reputation. Take a moment to imagine how customers would view a brand that doesn’t follow suit. They’d likely assume that the company doesn’t care about certain sub-demographics, causing them to choose a competitor that does.
Getting Started
Working with a professional is an amazing way to get started with optimizing your marketing strategy. They have the tools and resources to help ensure you hit the ground running. When looking for someone to hire, consider the best reputation.
There should be no shortage of positive feedback from previous customers. You should also have no trouble getting in touch with them. Issues will inevitably arise, and it’s best to work with someone communicative.
Dealing with problems on your own is highly frustrating. In some cases, it can be impossible.
You should also assess how they respond to criticism. Never work with a company that gets defensive or aggressive toward its customers. This indicates they won’t be on your side if something goes wrong.
Optimize Your Beauty Industry Marketing Strategy
The tips in this guide will help ensure you take your beauty industry marketing to the next level. From here, you’ll have no issue avoiding pitfalls you may have otherwise encountered.
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