How to Differentiate Your Brand
A new word added to the language, “cosmeceuticals,” represents an industry growing at six percent a year and is expected to reach $8.5 billion in revenues by 201 51. According to the FDA, the Food, Drug, and Cosmetic Act “does not recognize any such category as “cosmeceuticals .2” As a result, limited regulation has spurred a flood of new players into the marketplace, creating a saturated, scrutinized and high demand market. With the heightened competition we ask, “How do you differentiate?”
Recently, Studio 2055 completed industry research for a San Diego-based skin care company seeking to increase sample trial requests by aggressively building brand awareness. Once the target market was identified, the Studio developed a brand recognition platform using the term “cosmeceuticals”–combining cosmetics and pharmaceuticals.
The market for cosmeceuticals is expanding beyond the traditional forty-five and older demographic to include younger people who are focusing on eliminating signs of aging. Using the term cosmeceutical, creating marketing material that appears more pharmaceutical and less cosmetics is key. Corporate identity and logo design should represent both the background and future of the company. Models and spokespeople should be represented as professional, real and not driven by fashionable trends. Product design should be clean and simple without being clinical and cold.
For cosmeceuticals specializing in products that generate stem-cell proliferation, intelligent brand messaging is required. Studio 2055’s tagline, The Beauty of Science™, encompasses the medical advances made in the industry. The research and technology advances are mixed to deliver the current needs of customers who seek positive results.
For maximum impact and aggressive marketing, major media exposure and endorsements by famous personalities are the ultimate quest for driving the most attention to the brand. Social media, online marketing, public relations, incentive marketing, email marketing and strategic advertising require an all-encompassing campaign for implementation. Annual timelines, milestones and goals should be outlined to chart growth, revenue and results.
“Demand for women’s beauty products grows at about seven times the rate of the global cosmetics market, according to industry data,” according to Reportlinker.com. “Factors fuelling the personal care products market include higher consumer spending power, new products, better consumer awareness, advertising and lifestyle changes 3.”
San Diego is becoming the center of top professional skin-care brands on the market, including Lifeline Skin Care, BioRegenerative Sciences, BioRenew Skincare and SkinMedica. Having an intelligent brand platform and an aggressive marketing campaign is the only way to set the stage for cornering this industry’s market share.
References:
1 – “Cosmeceuticals,” from Cleveland, OH-based Freedonia Group
2 – “Cosmeceuticals,” from Wikipedia
3 – http://www.reportlinker.com/ci02134/Personal-Care.html
