A Quick Summary for Your Busy Day: (45 second read)
Cosmetics companies who develop and sell their own products have never had more opportunity to bring their products to market.
The past five years have seen a rapid rise in the availability (and affordability) of selling products online through ecommerce platforms such as Big Commerce, Hybris, Shopify, Magento, and WooCommerce, which has made it easier than ever to launch products to a wide audience without having to invest in costly brick and mortar stores.
The challenge remains to make prospective customers aware of new product and brand launches. Cosmetics companies are turning to paid celebrity endorsers - influencers - in the hopes that their social media posts will lead to increased sales. It’s working, but costs are rising. Influencers are demanding higher and higher fees and brands are struggling to justify the cost and track the benefits.
This article shows that influencer marketing can be a powerful force for growth. But perhaps cosmetics brands shouldn’t be making those expensive gambles. Perhaps counterintuitively, going small means going big.
Nano-influencers from within brands’ own customer bases can represent the lowest cost and highest ROI.