The beauty industry has undoubtedly become one of the most thriving industries in the world. Small scale businesses and retailers look towards this industry as they need to fulfill their consumer’s needs. This multi-million-dollar industry is characterized by stiff competition, new beauty brands and products being released. One issue that all new beauty brands face is finding the right target audience.
When you enter a saturated industry like the beauty industry, it isn’t easy to find out who your target customers are. You can market your products and do branding. But if you don’t know who your buyers are, every effort goes in vain. In this article, we have revealed five simple steps to find who your target audience is if you are a newbie beauty brand:
Primary market research in the beauty industry usually involves direct interaction with current or prospective customers to collect information on your target market. The research enables you to perform market segmentation to divide the customer base into unique, smaller, and precise market segments. Some beauty brands conduct primary market research themselves, while some outsource this task to research experts.
Some of the relevant sources of primary information for the beauty brands industry include:
· Online surveys (distributed to targeted customers)
· Focus groups
· Interviews (face-to-face or by phone)
· User testing
· Field research
· Consumer research panels
Secondary market research involves the process of data collection from published sources. The research process can be expedited by purchasing top-quality market research reports where statistics, data, and results are given in an in-depth format.
Secondary market research can empower any research project and aid you in identifying the areas that should be further explored via primary research.
Moreover, secondary research enables you to collect insights and key data from other areas related to the beauty industry, such as your competitors, your niche, the community where you want to establish a brick-and-mortar store, and all areas concerning the cosmetics industry.
A few of the best sources of secondary information are:
· Industry and market research reports
· Stats websites
· Trade shows
· Competitor websites
· Beauty industry websites
· SEO and trends websites
Social media has become the hub of trends. As a new beauty brand, you need to see what consumers mostly follow makeup products or skincare products on Facebook, Instagram, Pinterest, Twitter, and YouTube.
You can spy on your competitors about what they are up to through social media. Their content can help you post compelling content that your ideal audience may feel attracted towards. You can draw inspiration and produce content similar to them and increase your following on social platforms, which can gain you, customers, in the long run. You can run targeted paid marketing campaigns if you know the existing social trends.
You cannot survive without interacting with the online community as a beauty brand. Whether you are existing or new beauty brands, living with online communities can help you grow or establish your skincare products.
You can join different communities such as Facebook groups, Reddit, Tumblr, etc. These platforms, especially Reddit, can help what consumers are finding due to immense online traffic on this website. By knowing their problems, you can assess whether your personal care or makeup products address their concerns or not. By understanding the like-minded communities, you can know your audience and grow further.
Without using social media, it is difficult to find who the target audience of beauty products is? You can see so many micro-influencers sponsoring or endorsing makeup products. These influencers make videos while applying skincare products. As per stats, 91% of active Instagram users watch videos weekly. This statistic shows you the importance of Instagram beauty influencers.
As a new brand, you can observe them and assess which of these influencers are promoting products similar to your brand. After the assessment, you can also contact them and ask who their followers are. Their followers can give you a hint about your target audience.
An effective target audience is essential to growing in the beauty industry. If you want to be among the top beauty and skincare brands, you should have a strong connection with your audience. It isn’t easy to reach the ideal buyers for new beauty brands. However, if you read the steps mentioned above and apply them, you can identify your future target audience and establish your business.