Branding in the Cosmetics, Beauty and Hair World is everything….well, almost. Brand Equity is the name for the financial value of a product name, title, or Goodwill. Its value depends on its reputation, and the faith placed by Customers and potential Buyers. Brands can be bought and sold like any commodity, and frequently transfer ownership for astronomical sums of money. Brands may be virtual, but so is money these days. One of the best avenues for building Brand Value of FMC’s (Fast Moving Consumables) like Hair and Beauty Products is the Social Media. But unlike Traditional Brand building, where the Media, the Entertainment Industry, Social Events , and later, the Desktop/PC, all play a part, the Social Media is an Internet Community that is spread across the world. Much of Branding on the Social Media is tied to Smart phones, Tablets and laptops these days. And the main Internet Community obsessing the Social Media is a group that is known as the Millennials. Thus, Building Your Hair/Beauty Brand On Social Media has become a specialized job, with a special Target Group.
Focus: The Target Group
Beauty Brands these days are more influenced by a Power Group of “Millennials” born within twenty years of the Millenium (i.e. the year 2000), than any other age group. This demographic group, aged between 20 to 40 years in 2020, number about 80 million in the USA alone, and have a Purchasing Power of at least US$600 Billion here. In other words, this means over 30% of all retail sales. Social Media, not other traditional Media, Entertainment or other Events, will attract the attention of the Millenials, who will mostly be consulting their Smart phones, Tablets and Laptops. Social Media binds together Millennial Communities that were once geographically isolated. These once remote Millennials are now densely networked, and are flush with surplus funds. Much of this will be splashed out on Beauty Products like Hair and Cosmetics on a continuous basis. And much of this will hinge on the influence that Social Media will have on this Target Group.
Branding On Social Media
For Building Your Hair/Beauty Brand On Social Media, the following tips are suggested:
- Lifestyle Brand Fitting: This is a savvy generation, and they know when they are being sold. Celebrity ads don’t cut it any more. Lifestyle shots, where the Branded product is a small detail, convince them more, and is a far better approach to the astute Millennials.
- Product Excitement: The Beauty industry creates sales by innovative approaches on the Social Media. Some very successful companies have created review clubs, composed of potential buyers. They have first access to the new products, and can comment on them. Prizes accompany the best inputs. This creates excitement in the Customers, who look forward to interacting with these Brands on a sheer personal basis.
- Video Tutorials: Beauty Bloggers have created a new media phenomenon by promoting Video Tutorials on prominent Social media Platforms. You Tube leads this movement, but others are not far behind. Product Reviews on these platforms are lapped up by the Millennials, and not only help them choose a Branded product in quick time; it helps the Brand Builders put their ideas across.
- Swatch: Taking photos of color swatches give the customers these days a perfect idea of how the products actually look in application.
- Laughter: The use of laughter as a marketing strategy can be very powerful. Memes and college humor act as great relaxants for this workaholic generation.
- Love, socially: The Millennials tend not to stick to the same topics throughout the day, but hop from a limited number of peer group points of interest. This creates a Society, which is bound by self interest, but has no geographical boundaries. Beauty Brands should keep a finger on the pulse on the Social Media space. New platforms should be immediately evaluated on whether they fit into Beauty Strategies, and used to spread Social love across Branding levels.
- Creating The Beauty Community: The Social Media plays an integral part in the lives of these Millennials. Interacting several times daily, they connect with “like” posts, take and post instant selfies, and chat with each other incessantly. Soon, interests merge, peer pressure emerges, and Branding on commonly liked products and ideas takes over. Their desire for connectivity with family, friends and peer groups transcend their intense focus on work. The idea is to help form Beauty Communities on the Social Network which will nurture the Group’s common ideals on Hair and Beauty Products, and create Brands that will be accepted by the Target Group each time selection is made.
It must be remembered that Millennials are a bright bunch, so give them the facts. Sugar-coating won’t help. But honest Brands will always win out in the end.…