Question

write at least 3 pages about the importance of marketing for cosmetics company

Answer 1

There are many established and new cosmetic brands in the cosmetics market. All the players in the industry have to deal with a lot of competition to survive and then to move ahead in these tough market conditions. A cosmetic brand, hence, needs a clever business marketing and promotion plan to not only tackle the competition but also to eventually become a leader in their specialty of cosmetics products.

In the United States, the beauty and cosmetics market is growing by leaps and bounds. The biggest market share in the total U.S business were mainly of four segments – makeup, fragrances and perfumes, skin care and lotions and hair care products. All these as well as other market segments are expected to grow steadily. All cosmetic brands thus have many growth opportunities.

Cosmetics and Beauty brands are facing enormous challenges, not only in ecommerce, but with the evolution of customer behavior in the digital age. The digital world has taken the cosmetics industry to a higher and more connected level. It’s easier now to communicate with customers globally through various types of content, channels and platforms. If a company wants to level up its beauty business, they should try to incorporate digital marketing strategies in their day-to-day marketing activities.

In this digital age, setting up a social media marketing strategy is an important step in the overall marketing strategy that a cosmetics company shouldn’t overlook. Social media is very important, especially, with the growth of the number of Adblockers in the country, this can help to still get conversions and thus achieve the desired turnover.

Social media is turning out to be an indispensable step in the marketing strategy. Social media has totally disrupted the way brands connect with consumers and has also ushered in a totally new business model. All leading Social media platforms have changed the manner in which consumers interact, becoming marketing and sales channels, in their own right through PR, digital advertising, paid-for influencer marketing and organic influencer behaviour. The competition is very fierce, so positioning a company well is extremely important. If the company wants people to buy their product and not that of the competitor. They also need a good social media marketing strategy to make optimum utilization of this great resource.

Most of the leading cosmetic and beauty brands have now abandoned their traditional ways of marketing and are shifting to digital platforms. Social media has created a huge number of strong communities which have now become the new source of marketing.

Marketers are hence shifting to these modern methods because it is a cost-effective targeted marketing which gives them very good return on their investment. These brands are reaching out to target audience on all leading digital and social media platforms and making them aware of the latest and trendy products that thes e companies have to offer.

The major benefits of effective digital and social media marketing for cosmetics is outlined below. This will provide a clearer picture as to why this new age marketing is so important.

1. Helps to build a relationship with the customer

2. Customer feedback can be received and actioned upon more efficiently.

3. It increases brand exposure/ sales.

Buying habits are changing rapidly. Digital technologies are enabling consumers to experience brands in entirely new ways. All leading cosmetics brands today have a direct relationship with customers. Brands who put their customers at the heart of the product and the product experience will beat those who do not follow this.

New technologies are making it easy for cosmetics lovers to access trends, looks, content and experiences. Shopping behaviours have shifted more towards e-commerce and specialty versus the traditional bricks and mortar. It is no longer just about basic cosmetic products. People want to try advanced cosmetic and beauty products like liners, contouring and highlighting products, shadows, glitters, glosses and so much more. The range of choice within the brands has expanded as dramatically as the number of brands themselves.

Cosmetics brands have moved from a product based model to an experience basedmaketing model. It is no longer only about the product. The consumers are looking for a fully interactive experience with their cosmetics brands becoming a part of their lifestyle.

For example, L’Oréal now allocates 30 per cent of its media spending to digital channels. A significant initiative from the company has been the ‘Beauty Squad’ campaign, where a number of influencers created videos and articles for both L’Oréal’s website, social channels and their own individual channels, tapping into a combined influencer reach of 5.5 million. It meant that L’Oréal had successfully created the kind of content consumers are searching for, mainly beauty tips, advice and tutorials.