How to create your own personal care brand – 4 key considerations￼
E-Commerce or DTC (direct to consumer) gives people a new opportunity to create a brand without having to try to get into retail, however, competition is fierce and the cost of acquisition (marketing/advertising spend to acquire a single consumer) has been rising quickly as more brands go online. With this in mind – here are some key points not to miss when creating your new personal care or beauty brand.
So you have a great idea? Great, but you need to know if anyone else is already offering something similar and if not, why?
Google is great, but have a look at retail. Niche brands can be harder to find online and can be found in specialist retailers. If you are creating a Natural or Organic brand, have a look in Wholefoods, which regularly offers space for new brands.
How much is it selling for, what are their USP’s (Unique Selling Proposition)? Ask the shop staff if they sell many.
2) Find your niche, and your audience
Who are you solving a problem for? You’ve probably got a pretty good idea of who you think might benefit from this product, so ask for their opinions.
Create a questionnaire, including age, sex, location and lifestyle questions to help build a picture of your core demographic, and then understand if they truly want this product.
This data will also pay huge dividends when you start marketing and advertising.
3) Stand out from the crowd
What can you offer that other brands don’t? Keeping it simple with a clear USP will allow you to market your brand authentically and consistently. Your point of difference needs to solve a problem that’s important to your core demographic.
Creating a personal care brand can be expensive. Once you have your concept, you’ll need to have your product or range formulated and tested, packaging designed and ordered, a website built, storage fees and marketing. You might also need to order and purchase your second run before you sell your entire stock.
Viaderm have relatively low MOQs (Minimum Order Quantities) at just 3000 per product but new formulas also need to go through stability and safety testing.
Know your figures – make sure you have all your forecasting in place before starting your project. This usually includes Cash Flow, Sales forecasting, Startup forecasting, Expense and Demand forecasting.
While these are just a few considerations, they are key to giving your business a better chance of success.