Technology + Beauty = Success & Scale for your beauty business
The beauty industry is becoming increasingly complex.
It is no secret that the way we discover, interact and purchase products these days is optimised to serve a highly tech savvy audience that insists on instant gratification.
From same day delivery to now, guaranteed delivery within 55 mins, customers want their purchases made seamlessly, with little or not friction and all within a specific time frame. The faster the better.
At the 2017 WWD Beauty CEO Summit held in NYC, Camillo Pane, the CEO of Coty, spoke about the speed at which change the beauty industry is changing. “Brands are created at the speed of light,” he said. “The beauty industry is becoming increasingly complex. Our instinct is to dislike complexity. But we either embrace it, or we’re not going to be around.”
So, as a marketer where exactly should your attention be?
Should you be keeping an eye on that new beauty kid on the block?
Or figuring out the campaign mechanics for your next product launch?
Or understanding the CPC across all your digital channels AND
Why they didn't perform as promised and worse, how you're going to report it to management?
The list is endless.
And while there is no one straight answer, prioritisation is key. Prioritisation is a challenge for any marketer and brand owner but if one of your beauty business top priorities is customers, which I hope it is, prioritising consumer centric solutions is a non-negotiable.
To understand customer centric solutions is to understand technology and to understand technology is to understand its capability for speed & personalisation.
It is plain to see that many (and soon to be majority) of your beauty consumers are interacting solely with technology twenty-four-7, in particular thru their mobile phones to discover, review and purchase your beauty products.
So our question is how optimised is your beauty business for the mobile centric & tech savvy consumer who wants speed and personalisation all rolled into one?
One rising beauty start up that is doing just that is Proven. Never heard of them? You probably will soon enough. They have not only catered to the speed and personalisation at which beauty consumers are demanding for skin care solutions, but they are using technology to cater personalised skincare solutions for their audiences.
“On our team we also have an award winning cosmetic chemist who is the person who helped to formulate all of our products. We also have dermatologist advisors on our team who put the human touch on top of the big database knowledge base.” Proven’s founders, Ming Zhao and Amy Yuan.
This is a fine example of how technology = speed + personalised skin care solutions. The way forward is cost-effective, personalised skincare solutions, delivered to your door step.
If beauty brands aren't enabling themselves with the capabilities of technology, they're in falling into the trap of dismembering their brands and eventually, their businesses from consumers. And @Selicious, we're here to ensure marketers aren't accidentally burying one of the most important tools that could revolutionise their entire business.
To clarify, by no means are we saying that technology is the only mechanism for beauty brands to be successful. No, we don't believe that they beauty consumer will only leverage technology for his/her beauty and skincare purchase, BUT, as more brands are looking to gain market share amongst the younger audience, technology is one of the most important tools for beauty brands to integrate into their UX as audiences are getting younger, savvier, and are moving from digitally native to tech native environment.
But where do you even start the process of discovering which is the ideal technology suitable for your business and brand? Should you start with VR or AR? Which stores or digital touch points can we roll this technology out on? Which pre existing technologies can we leverage on to manage costs and implementation efforts?
If you're a relatively traditional beauty business and this tectonic shift is keeping you up at night (if you're a CEO I assume it might be!) don't just google boring information on AR & AI, drop us a note and we'll be happy to share with you the various AR technologies available, their capabilities, functionalities and how your business stands to benefit from them.
Reach out to us on: firstname.lastname@example.org
- The Selicious Team