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Starting a beauty business is an exciting venture, but it’s not easy, and you’re likely to face several challenges along the way. So, how do you make sure you’re taking the proper steps and increasing your chances of breaking into such a competitive industry?
In the UK, the cosmetic retail industry in 2022 has a market size, measured by revenue, of ÂŁ2.4bn, and the global cosmetics market is projected to reach 758.4 billion US dollars by 2025 — that’s a huge market to tap into with the right brand.Â
If you love making your own beauty products and are thinking about taking your hobby to the next level, our industry experts are here to help. Below are some of our most valuable tips to help you build a successful beauty business and break into this expanding — and lucrative — market.
If you’re starting as an entrepreneur and want to know more about setting up a cosmetics company from scratch, read our comprehensive guide onhow to start your own beauty business.
We’ve already established that the cosmetics industry is vast, which is why you’ll struggle to break into it if you’re not offering something new. For example, there are countless large-scale companies selling moisturisers, and probably at a lower price point than would be viable for your business.
Breaking into the beauty industry means giving potential customers a reason to buy into your product, so you’ll need to develop a strong, unique selling point (USP). Your USP might be that you create sustainably packaged products with natural and organic cosmetic ingredients, or maybe you’re formulating a range of no-nonsense cosmetics that make an excellent skincare routine accessible to everyone. Some of the most successful beauty brands have started out with a single hero product that became a cult favourite among customers — perhaps you have a great idea for the next skin or hair care product the world can’t live without?
Whatever it is, it should be authentic, compelling and true to yourself. If you believe in the story behind your brand, it’ll be much easier to get customers on board with your vision.
Branding determines how potential customers perceive your products, so it’s vital to get this right from the beginning. Your branding should communicate your business’ USP and vision while encapsulating the look and feel you want to achieve, whether that’s fun and youthful or elegant and luxurious.
Think carefully about your logo, colour scheme, fonts and other design elements, but make sure you’re also cautious about any claims made on your product packaging. All beauty products sold in England, Wales and Scotland must comply with the UK Regulation for cosmetics. In contrast, products sold in Northern Ireland must comply with the EU Regulation on Cosmetics.
When launching a new brand or product line, you should do all you can to help customers discover it. Depending on your goals, this may mean creating a fantastic digital marketing campaign, getting your products stocked in brick-and-mortar retailers, or both. If your budget is limited, getting creative on social media is an excellent place to start, as promoting your content on platforms such as Instagram, Facebook and Tiktok is a low-cost way to boost brand awareness. Who knows, you might even create the next piece of viral video content!
If you plan to sell your products online, make sure you put time and effort into product descriptions, as these will help customers identify whether an item is right for them. Consumers often like to see cosmetics in real life before investing in something new. Still, if you share as much information as possible with them through your website, they’ll better understand the benefits of your products without needing to hit the high street.
Below are some of the steps you can take to help new customers discover your brand — and buy from you:
Increasing brand visibility is about more than getting mentioned in big-name publications. Although securing media coverage is a great way to build credibility and hype around your business, your own content can also go a long way towards success in the beauty industry.
Your cosmetic brand’s website should have a comprehensive FAQ and a blog or knowledge base providing helpful information. Answering common questions through online content is a fantastic way to convert customers and help your website rank on Google for subjects your target audience is likely to search for.
When starting a beauty business, you’ll likely have limited resources and an even more limited budget to work with. This means you can’t market across every channel — and you shouldn’t try to.
Consider the best marketing channels for your business and prioritise these. Focusing on your website, blog, social media content, and email marketing will serve you well in those early stages.
Once you have a bigger budget and team to utilise, you may want to consider things like influencer marketing, pay-per-click (PPC) advertising and events. Don’t feel pressured to get involved in the latest marketing trend if you don’t think it aligns with your business — the most important thing is to ensure your marketing strategy works for your brand.
Whether you’re wondering how to start a makeup business or want to get your new skincare brand the attention it deserves, we hope these tips will help you on your journey to running a successful beauty business.
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