In hand, with our recent launch of Insights100 (our data analytics microsite featuring 100 brands from the fashion, luxury and cosmetics industries) we have shortlisted some of the most interesting luxury beauty marketing investments and how they are propelling in a digitally savvy market.
Consumers are more equipped than ever before, and the impact of this has created new trends and transformations in the beauty industry. Launchmetrics Insights100 sheds light on the newest marketing strategies of some of the leading brands in cosmetics, hair and body care. Today, we take a look at how data can help you learn how cult-brands, as well as digitally native brands, are taking millennials and future consumers by storm.
The Top Luxury Beauty Brands Excelling in Their Digital Marketing Investments
One of the top global beauty brands Nars has dominated the cosmetics industry for over a decade. They are well known for their inclusive and wide range of shades when it comes to their foundation, and powders as well as their high-quality pigmented shades. Looking into Nars’ voice split, the activation of influencer Voices within their campaigns is a clear winner for their marketing strategy, with a 64% lead on their beauty marketing investments. However, the celebrity Voice only represents 12% of the Media Impact Value™ when it comes to their marketing mix, suggesting that social media influencers really are winning out when it comes to the value being generated for Nars. Dominant influencer marketing and bespoke beauty collaborations with bloggers, vloggers, and beauty gurus alike are key when it comes to generating a strong consumer market and attracting new customers – especially within the beauty industry.
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However, it isn’t just influencers that beauty brands should look to activate when it comes to their marketing strategy – the digital environment is driving brands to push their marketing mix to a new level in touching base with their consumers. Looking at Lancôme’s Voice split, their mix is fairly evenly split between media and influencers – media accounts for 46% ($61M MIV®) and influencers at 41% ($54M MIV).
An example of this multi-Voice activation is when Lancôme launched a makeup range with top influencer, Chiara Ferragni. Harper’s Bazaar featured an exclusive look at the new collaboration – a great way to launch products to market and inform readers on what the collection provides, whilst being the only source to do so.
As a luxury beauty brand, quality is an imperative USP to differentiate from the mass market. This is why there is a difference in Voice split between luxury and mass market beauty brands. Looking at Dior’s marketing strategy, they prioritize media to market their beauty products, as it accounts for 53% of the Media Impact Value that is generated – more specifically $59M. This hints at large investments to foster authority across the industry, via influential publications, online channels, and OOH activations. Consumers buy into products and services through these channels, which also build anticipation for purchase.
Laura Mercier has been groundbreaking in its strategy with 83% of its mix focused on the use of influencer marketing paying off at a high MIV value of $93M. With over 2.5 million followers on Instagram, Laura Mercier users beauty bloggers to help launch and review key products, which builds awareness and validates the quality of the product. This helps consumers advocate for investment in high price-point purchases from luxury beauty brands.
As a renowned make-up artist Charlotte Tilbury has built an established empire hosting a vast range of products from flawless foundation to eyeshadows and glamourous lipsticks and glosses. As quite a new launch to market brand, competing against other major luxury brands, Charlotte Tilbury has excelled with the marketing investment they have made so far. Their Voice split is dominated by three key marketing strategies.
The use of influencer marketing accounted for a MIV value of $50.6M. A key example of this is the brand’s recent influencer collaboration with beauty blogger Jackie Ania. They created a versatile eye shadow palette that works for all skin tones, doubling up as an investment in diversification and inclusion which helps the brand perception from a global perspective.
The brand also strongly leverages its Owned media platforms via their website and Instagram pages to share product information, and tips and tricks – accounting for $16M in MIV. Lastly, paid media, representing $19M of Media Impact Value for the brand, is an effective strategy, which goes hand in hand with repurposed content on collections via other communication channels.
Are you interested in where your brand sits when it comes to your beauty marketing investments?
Take a look at Insights100, and benchmark your brand against industry standards.
*MIV® is a registered mark in the European Union.