*This is Part 3 of a 3 part series to help you get started on your beauty product idea.*
Now that you’ve gotten knee deep into the research, I’m going to ask you to dig a touch deeper. Sure, now you know what makes the existing product tick. But how can you make yours even better? Products compete on efficacy, price, branding and marketing.
Making the product effective is both a skill and an art. It is a balancing act between the key ingredients, an appropriate delivery system, and sensory perception. If you get it wrong your chances of survival are slim.
I can never stress the importance of brilliant branding enough. We’ve become a more entrepreneurial economy so people are familiar with the concept of branding now more than ever. The presence of a cohesive brand can be all it takes to turn a potential customer into a loyal customer.
You know what your product does, you know how it does it and you still think it’s pretty amazing. So now you just need to craft a marketing message to share with the world that will compel your customer to buy. Sounds easy right? Just remember, there’s more than one way to market a beauty product so get creative and try a few different things to get your point across.
Regarding price. Some brands live to compete on price. I say, why waste your time? You don’t have to compete on price if your product looks great, has a good marketing drive behind it and actually performs the way you say it will. Nobody will even care about the price if the value is there.
And the recurring theme in this entire series….Just get it done.
Here’s to the Glam Life!