Beauty is a multi-billion-dollar industry. With new products and services appearing on the market daily, the industry is fast-growing, and extremely profitable. In fact, the global beauty industry is worth an estimated $532 billion, and it’s expected to exceed $800 billion by 2025!
Australia is no exception to the beauty industry boom. The average Australian woman spends $3,600 dollars on beauty each year, and men are spending more money on beauty, cosmetics, and skincare treatments than ever before.
With so much money to be made, it’s no wonder everyone wants a slice of the billion-dollar beauty pie. Instagram influencers and YouTube beauty gurus are popping up everywhere, making a fortune with their own unique brands. Plus, Tik Tok has added an exciting new element to the beauty industry: Their unique algorithm has levelled the playing field by allowing unknown users to go viral. It can take an unknown brand from obscurity to infamy in 24 hours.
So, if you’re a nail technician, skincare specialist, or makeup artist and you’re looking to get into the beauty industry, there’s never been a better time.
But how do you stand out in the competitive, and highly lucrative beauty industry?
Keep reading to find out.
Know your Niche
The key to succeeding in the beauty industry is finding your niche. Perhaps you have a hidden area of expertise that you hadn’t even thought of. All experience is valuable here. Are you vegan? Why not set yourself apart from the competition by offering vegan only cosmetics? Are you a mature aged man with a passion for nails? Why not start a nail polish brand, tailored uniquely for men? The great thing about a niche, is that you don’t have to think up something that’s never been done before. (But if you can, then go for it!) Just identify what you do well, what your passion is, and it will help you offer something fresh, new, and unique to the competition.
Build an Awesome Visual Identity
Brand images matter more than you think. A good first impression is paramount to building credibility and loyalty among potential customers. If your brand isn’t enticing and engaging, the consumer will simply move on to the competition. Plus, a brand image is more than just a logo, it’s also a promise. For most consumers, they’re not just purchasing your product/service, they’re also buying the image associated with the product. So, think of your brand as a promise. What are you promising your audience that only your brand can give? Now, consider your brands visual identity. It should be positive, unique and eye-catching, so invest in a high-quality logo and website. ?
Social Media is Essential
It’s important to advertise your brand on all social media channels. A massive 50 million people alone use Instagram daily. Plus, online sales are projected to make up 48% of all beauty sales by 2023. Set up an E commerce platform, such as Shopify, to sell your products online, and get your brand on all social media platforms. Not only will you increase brand visibility, but you’ll also have the potential to go viral. All it takes is one engaging post, and your brand could skyrocket. Usually, there’s no such thing as an overnight success, but online there definitely is! In fact, when the new brand, Lash Therapy, went viral on Tik Tok earlier this year, it sent their profits through the roof. They sold out four times in two months, all thanks to the success of one viral video.
Be Persistent and Patient
It’s definitely a huge help if your video goes viral, but if it doesn’t, don’t worry! Slow and steady also wins the race. Set up a website devoted to your brand, and invest in a personalised domain name, as it looks professional and adds to your brand image. Remember: content is key! If you’re a nail technician, take some high-quality photos of your best work, and link your website to your Instagram, Facebook, and Twitter accounts. And don’t forget to use meta tags to extend your reach. Dedicate certain days of the week to posting, as it builds credibility and trust with your audience. It also helps you stay on track.
And remember: quality is more important than quantity! One professional post with high quality images is more credible than daily posts with poor quality photos. It’s also important to keep up with your specific industry by following other beauty therapists so you can predict trends and stay ahead. It may take time to build a solid following, but keep building your brand brick by brick. You’ll get there in the end!
If you’re passionate about the beauty industry, and you’re interested in learning more, why not enrol in one of our Beauty courses?
Whether you’re into make-up, skincare, beauty therapy or cosmetics consultancy, you'll find that Open Colleges Nail Technician and Beauty therapy courses will give you the comprehensive skills to get ahead in the trade.