When Is It Time to Reexamine Your Products?

 There comes a time in every product’s history when it fails to resonate with the customer.Although it may seem as though there are numerous reasons, four basic points stand out: your overall strategy needs updating; your claims are off target or not substantiated; you are unaware of what the competition is doing; and the customer is not happy.If this is the case, then it is time to reexamine and create something special.

Is Your Strategy Outdated?

Brands and products constantly evolve and if you have the same plan you initially set forth with, you must look at it again. What is presently happening in the marketplace is different than the landscape five years ago, two years ago, or sometimes as little as a few months ago. As your customers’ buying habits change, you need to be able to change with them. It is important to stay timely and topical and relate to lifestyle and current beauty needs.

First impressions are critical to the success of the brand. You want customers to have a lasting impression; therefore you must look at your brand position. In this fast-paced environment, the message must be unique and represented in all facets of the brand from your packaging and web page content to your on-air message.Cohesion and consistency are key.

Changing or updating your strategy is a chance to be innovative, think outside of the box, and increase brand revenue and buzz. Make sure to include social networks and e-commerce in your strategy.
Calamity Claims

Claims are a given in the beauty industry when selling products that boast positive results, especially in skin care. More and more companies are trying to include claims as part of their features and benefits. Claims are great and can help the product stand out in the crowd. However, if claims for your product, which support your value proposition and benefits, are off target or cannot be substantiated, they will not be effective.

It is important to do your homework. Decide what kind of claims can be made. Ask for assistance and to speak to the experts within the organization. It is a must to follow protocols that are not only set within television shopping channels, but the federal government as well. Make sure that your product really does what you say it is going to do. If there is interest in your product, you will have to submit the proper claims and substantiation to legal departments to receive final approval. Discuss this with the team first to make sure you have the correct information and meet requirements before you spend money on further testing and/or research.

Don’t Over-Respect Competition

Take your competition seriously and pay attention to what works for them. Be aware of what they do well. Shop the market, and do it often. Attend trade shows and events to see what is trending in the industry, be inspired, and don’t copy your competition. Being your own entity will help you to stand out in the mind of the customer. Don’t obsess about your competition; instead understand what they do well and what you can do better.

Retention Rules

Customer engagement initiatives have lost sight of customer retention. This is the true measure of your success. Customers have access to information that informs purchasing decisions at their fingertips, and can shop anywhere, anytime. It is important that your brand is available to them 24/7.

Customers have rewritten the rules. They have become experts by sharing their experiences through writing product reviews and are not shy about sharing the good with the bad. Make sure you create and engage a customer community.Creating a community of brand advocates is an advantage. Converting them into loyal customers allows you to form a long-lasting bond with them. Knowing that you care about their needs creates brand loyalty. Remember, the customer is part of your beauty family.

Selling a brand today is less about advertising and more about creating an experience. If your customers have a wonderful experience, and if you make them feel good about themselves, they will write about it, share the experience with friends, and you will win their hearts, as well as incremental business.

About the Author

With over 20 years of experience in the television shopping industry, Donna Tarantino is currently vice president of beauty and style for Risdall Consumer Direct. She was previously ShopNBC’s director of beauty, health and fitness, and has helped conceive, develop and transform numerous beauty brands into household names, including Bare Escentuals, Smashbox Cosmetics, Philosophy, Too Faced Cosmetics, Peter Coppola Haircare, Skinn Cosmetics, Nick Chavez Haircare and more.