Jamie Matusow, Editor-in-Chief07.30.15
Who better to speak about the future of niche beauty brands than one of the first people to bring them into the spotlight back in the ’90s?
As a celebrity makeup artist, Jennifer Walsh spontaneously went on TV to talk about what were then “crazy indie brands,” such as Stila, Bobbi Brown and Fresh. At the time, she said, there was no Sephora in the U.S., and no inclusion in department stores, but consumer interest was rising.
Over the next 20 years, Walsh became more involved in spreading the news, and has helped to start more than 100 niche brands. She is now CEO of Pride and Glory Ventures, a collegiate beauty brand she started in order to serve college communities and provide a strong tie to social responsibility.
Today, said Walsh, with a much greater focus on consumer education, the most important thing for niche beauty brands is to remain constantly connected and maintain a strong social presence. “Tell a compelling story to engage potential consumers who want to know who’s behind the brand and what makes it unique,” she advised. “YouTube videos, online ads, creating virtual communities and sharing a purpose are all critical,” she said.
Before starting a brand, Walsh cautions the necessity for funding far above the launch costs, estimating a minimum of about $1 million to get you off your feet and growing.
Also important questions to take into consideration as far as succeeding and surmounting any barriers to market entry: Is it a brand new concept? Does it fill a void? How well do you know the beauty landscape and where does your brand fit?
Walsh presented a number of stats to make her point as far as social media being a necessity in today’s competitive beauty market—and niche product growth. Her data showed that 50% of beauty shoppers watch a video on YouTube while shopping for products; 70% of shoppers feel reassured with positive comments and reviews on products; and 20% of consumers will purchase a beauty brand because it has a cause attached to it—but she emphasized that it has to be a relevant cause that makes sense to be tied to the product.
What’s more, 55% of beauty shoppers who saw a mobile ad, searched for additional info within 24 hours.
Today’s shoppers want to read product info on mobile devices whether they’re at home, at work or on the go, said Walsh. They want to locate retailers, compare products, scan codes and watch videos. And they’re looking for convenience and free shipping to boot.
For these reasons and others, Walsh maintains that a social presence 24/7 is mandatory for niche brand survival.
Image Credit: (Top) Courtesy of Chic Chat, a company that developed an online marketing campaign and promotional strategy for L'Oreal Paris
As a celebrity makeup artist, Jennifer Walsh spontaneously went on TV to talk about what were then “crazy indie brands,” such as Stila, Bobbi Brown and Fresh. At the time, she said, there was no Sephora in the U.S., and no inclusion in department stores, but consumer interest was rising.
Over the next 20 years, Walsh became more involved in spreading the news, and has helped to start more than 100 niche brands. She is now CEO of Pride and Glory Ventures, a collegiate beauty brand she started in order to serve college communities and provide a strong tie to social responsibility.
Today, said Walsh, with a much greater focus on consumer education, the most important thing for niche beauty brands is to remain constantly connected and maintain a strong social presence. “Tell a compelling story to engage potential consumers who want to know who’s behind the brand and what makes it unique,” she advised. “YouTube videos, online ads, creating virtual communities and sharing a purpose are all critical,” she said.
Before starting a brand, Walsh cautions the necessity for funding far above the launch costs, estimating a minimum of about $1 million to get you off your feet and growing.
Also important questions to take into consideration as far as succeeding and surmounting any barriers to market entry: Is it a brand new concept? Does it fill a void? How well do you know the beauty landscape and where does your brand fit?
Walsh presented a number of stats to make her point as far as social media being a necessity in today’s competitive beauty market—and niche product growth. Her data showed that 50% of beauty shoppers watch a video on YouTube while shopping for products; 70% of shoppers feel reassured with positive comments and reviews on products; and 20% of consumers will purchase a beauty brand because it has a cause attached to it—but she emphasized that it has to be a relevant cause that makes sense to be tied to the product.
What’s more, 55% of beauty shoppers who saw a mobile ad, searched for additional info within 24 hours.
Today’s shoppers want to read product info on mobile devices whether they’re at home, at work or on the go, said Walsh. They want to locate retailers, compare products, scan codes and watch videos. And they’re looking for convenience and free shipping to boot.
For these reasons and others, Walsh maintains that a social presence 24/7 is mandatory for niche brand survival.
Image Credit: (Top) Courtesy of Chic Chat, a company that developed an online marketing campaign and promotional strategy for L'Oreal Paris