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How to Win the Beauty Industry as a Small Player
Listen up, everyone gets this wrong!
The 2020s will be known as the decade everyone and their mother decided to start a skincare line.
Celebrities and influencers with unlimited resources and support from backend production agencies have been churning out copycat skincare lines like BowTiedOx pumps out bodybuilding content.
Non. Freaking. Stop.
You cannot compete with unlimited resources as a small player.
So the real key to winning here?
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Do not try to reinvent the wheel.
Everyone wants to be unique, but I promise, you will not be able to keep up.
So here’s the secret:
You do not need to be unique or innovative.
Not even the big brands are unique (lmao):
Your job is to convince your target demographic that the solution you’re selling is the only one that will solve their problem.
So, the strategy to winning with limited resources?
Leverage your pattern recognition skills to figure out what is already working in the market.
Instead of trying to reinvent the wheel, let the professionals at L'Oreal, Proctor & Gamble, and Johnson & Johnson be your proof of work (kek)
What's working right now?
What isn't working right now?
Who is my target audience?
How can I rework this solution to appeal to my audience?
If you're in the beauty industry, your best bet is vain, rich, probably older women (AKA me in a few decades so listen now).
What do these women want?
They want youth, beauty, and luxury.
They want to feel something, and they want results from their products.
So, to sum up:
Education campaigns are too expensive and time-consuming for someone with limited capital
Take cues from the Estee Lauders and LVMHs of the world, and build solutions with better marketing
Oh, and profit
You are not winning if you're not making money.
If you’re interested, you can book time with me to discuss product development and brand strategy here.
Note: you can book 1:1 consultations with me. Check it out here or DM me on Twitter to book with ETH