The Beauty Product Launch Katie Miller LXFM 772 Professor Moore
Contents 01. Entrepreneurial Opportunity 02. Strategic Product Concept 03. Integrated Marketing Plan
Entrepreneurial Opportunity
The Root of Attraction Our pupils dilate when we see something beautiful
Our brains light up stronger when we experience beautiful images
Beauty is an intense form of curiosity
It’s a learning signal urging us to keep on paying attention & keep us motivated
Humans’ appreciation of beauty relates to the feelings we associate with happiness
Looking at beautiful things and people can improve quality of life
Our Perception of Beauty Influences Everything We Do Finding friends
Choosing clothes
Traveling experiences
And Even‌
Choosing a life partner
Its not surprising Beauty is the #1 category on Instagram • 67% of beauty buyers who see an interesting post on Instagram will take further action (clicking, buying, or doing more research • A channel where Brands share their values and story, build a brand world, create a journey, and, more importantly, establish a dialogue with their community • The beauty brands making waves today are talking with their audience, not at them
MOST POPULAR CATEGORIES ON INSTAGRAM WORLDWIDE (MENTIONS IN MILLIONS, NOV 2015 - APRIL 2017) Beauty
Fashion
Auto
Sports
0
500
1000
1500 Sports
Auto
2000 Fashion
Beauty
2500
3000
3500
Product Concept Matchmaking App by Instagram Forming authentic matches, using beauty insights through unique Instagram data
Financial Opportunity
• Free to download & sign-up • Premium Features: $6.99 per 50+ matches add-on • Instagram revenue in 2019: $14B • 30% estimated users pay within first year
Instagram Market
500M
1B+
63%
ACCOUNTS USE INSTAGRAM STORIES DAILY
MONTHLY ACTIVE USERS
USERS LOG IN AT LEAST ONCE PER DAY
Dating Market • 1 in 5 of committed relationships in the US begin with online dating • 64% of online dating users are looking for someone they have something in common with • 49% Users look for someone with physical characteristics they are attracted to • 35.9M US online dating users in 2019; Growing to 37.5M by 2023
Online Dating Users by Age (Worldwide) 50% 45%
43%
40% 35% 30% 25%
25% 20%
17%
15% 11% 10% 4%
5% 0% 18-24
25-34
34-44
45-54
55-64
Most Common Activities of Online Dating Users Prior To Physically Meeting in Person (US Users, 18-34 Years) Other
Online Dating Users
Searched their name online
Looked at their social media profiles Searched their phone numbers online
Other Looked at their social media profiles Searched their phone numbers online Searched their name online
Consumer Journey
Target Consumer Taylor ‘Social Obsessed Availables’ Age 18-35 Social sharing lifestyle Searching for a meaningful long-term relationship Reliant on social media to meet people They crave attention for acceptance Advice-seekers: They trust their friends & family’s opinion to be the most trustworthy
Social Obsessed Availables
Strategic Product Concept
Features Matchability Rating Curatability of individual profile content Personalized Behavioral Statistics stories Featured shoppable beauty tutorials Date Coaching
Integrated Marketing Plan
Objectives & Strategies Objectives To launch app first in the US to existing Instagram users. To target single Instagram users who display advice-seeking behavior Strategies Using existing Instagram users Marketing through Instagram Stories, Posts, Ads. Using various nano-influencers to market to wide audience
Integrated Marketing Funnel Strategic Overview
Attract Engage Convert
• Drive awareness through Instagram • Stories, Photos, Ads • All-in-one Model • Social media campaign on stories & posts • ‘Suggested’ Pop-up Ads
• Low-cost opportunity to see matches • All-in-one social platform • Increased authenticity from trusted social network
Digital Strategy
Facebook Post
Instagram Stories
Instagram Post
App Store In-App Purchases
Retail Strategy
Instagram Shopping Premium Features $6.99 Premium
Influencer Strategy
1 Macro & Multiple Nano Influencers 1k – 10k followers Young, digitally-centric Diverse - Gender neutral users To connect with users on an intimate & authentic level. These are considered “real” people.
Thank You