You have a passion for cosmetic, maybe have worked in the industry for years and now you want to give your private label cosmetics brand a go? While you may have a great idea for an innovative product and there is a big market for high quality cosmetics you need to make sure your strategy is spot-on and you follow all the important steps to make sure your product will be a success. After all it is a big investment and you want to start earning as soon as possible to get a return on your investment. Here are the 5 essential steps to get your brand of the ground and succeed as an entrepreneur.
1. Decide on your market and do your market research well
First you need to evaluate where you want to offer you product well and establish your target precisely, then research similar products and your competitors in the chosen market carefully, to avoid legal issues and avoid oversaturated markets. If you don’t have the time or tools to do this yourself, make sure you rely on professionals for this initial research. It’s the crucial step in order to make a profit quickly.
2. Find and contact suppliers
Whether you want to start with one very specific product or launch a complete line, you will need to get in contact with different private label cosmetics producers and suppliers to find the one that is right for your business. Make sure to consider if they also supply packaging and labels or if you need to find a separate supplier for these.
3. Formulate your product, design your logo and packaging
In order to create a strong brand, you need to invest time and resources in the branding process. How the products are perceived is crucial for the sales. You will have established in the previous steps whether you want to offer a low cost product or a premium product. Your product including the logo and packaging need to reflect this choice.
4. Think about the sales strategy
Getting your private label cosmetics in a shop might be difficult at the beginning, when your products are still new to the market, so you will probably need to find alternative places to sell them at the beginning. So, think about the different options carefully. You can for example create your own e-commerce website or sell them through market places like amazon.
5. Make you first sale
This is the big moment. The product is ready and you start advertising it. If you don’t have the knowledge, rely on a good marketing agency to promote your product. Always remember: No matter how good or economic it is, it is a brand new product that people need to get to know. With a well thought through marketing strategy, you should see the first sales coming in quickly.
If you are new to the private label cosmetic business, rely on a producer that also offers packaging and branding and can support you in finding the perfect formula.
4 Reasons Why In-Person Event Marketing Is Essential
August 12, 2018
Marketing
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As the online space grows ever more crowded, in-person events are becoming more essential than ever. They offer the valuable opportunity to speak directly to your target audience and form in-person connections with them. At an in-person event, you can get immediate feedback and control the customer experience in a unique way. This is why event marketing is an essential element of your marketing mix.
You Build an Emotional Connection
People come to your event because they’re interested in what you have to offer. Basically, they’re self-selected as the best possible audience to receive your brand message and ultimately buy your product or service. Instead of talking to the internet at large or every reader of a newspaper or the drivers going by on the highway, you’re speaking directly to your target demographic.
You can use that opportunity to build an in-person connection that feels more immediate and personal than other forms of marketing. In-person events build an emotional connection with attendees, as Howard Givner explained in an article from Entrepreneur.
Givenr says that companies can leverage the connection guests built at an event, cultivating their emotional connection into an ongoing relationship.
Even if attendees don’t buy right away, they’ve become warm leads, primed for a sale.
You Get Immediate Feedback
At an in-person event, you have an ideal opportunity to get immediate feedback on your product or service. No need for focus groups or emailed customer surveys. Guests can try your product in real-time. You can address their questions right away.
This give and take helps you break down barriers to the sale and show potential customers exactly why they need your product or service.
And the value extends far beyond the end of the event. You can use the feedback, questions and discussion to inform your marketing strategy. For example, you might write a blog based on a question you heard several times or start a new Facebook ad campaign showcasing a feature your attendees were particularly excited about.
You Can Curate the Customer Experience
Consumers are bombarded by advertising and marketing messages all day every day. Experts claim a person sees as many as 10,000 brand messages per day. That’s a lot of competition for your ideal customer’s attention.
At an in-person event, your competitors are left outside. Instead of seeing dozens or hundreds of options, attendees see one, yours. That gives you an uninterrupted platform for evangelizing your product or service.
Event Marketing Works
In the Content Marketing Institute’s 2015 Benchmarks, Budgets and Trends survey, event marketing topped the list of effective marketing strategies. And with good reason. According to the EventTrack Content Benchmarking Report, 74% of consumers say they’re more likely to purchase after attending a branded event.
The evidence is clear – event marketing just works.