Shaken & Stirred - Influential Brand Profiling and Positioning

3 valuable marketing lessons from the fragrance industry

Checking out the competition as you launch your business can prove to be a bit of a confidence-killer.

Despite your initial ambition, the more you look the more you see how crowded the market is, leaving you to spiral downwards in a whirlwind of doubts and anxieties:

“What local rivals will I have to fight over customers with? Are there online contenders lurking in the shadows to undercut my prices? How on earth do I manage to make my fledgling startup stand out from the crowd?”

After one too many sleepless nights wondering if you’ve got what it takes, you’re tempted to give up on your entrepreneurial dreams for good.

Finding inspiration in the fragrance industry

The trick to getting over your beginner worries is to look to others for inspiration.

For proof that success is possible even when you’re surrounded by competitors, the fragrance industry is the perfect role model.

It’s a busy and crowded industry, with an estimated global worth of $40.1 billion in 2016 that’s predicted to grow even bigger over the next few years.

And marketing excellence is how the giants of the perfume world claimed their places at the top.

So to give you a much-needed confidence boost, we’re highlighting three of the fragrance industry’s favourite marketing rules that will guarantee you startup success. Take a look.

#1: know your customers

Designer labels know fashionistas want a taste of luxury with their perfumes – and that they’re willing to pay a hefty price tag for it – so offer up expensive and sophisticated scents.

On the opposite end of the scale, discount fragrance retailers know there are plenty of bargain hunters looking for branded perfumes without the hefty price tag.

Whatever your goal, pick out a specific demographic and gear everything – the product, pricing and packaging – directly to them.

#2: create killer content

With big budgets and even bigger celebrities to star in or direct them, perfume adverts are an art from nowadays. You probably can’t afford to hire Johnny Depp as a brand ambassador but you can create quality content to win over potential customers.

Some of the world’s foremost fragrance brands, like Carolina Herrera or Paco Rabanne, are turning to digital marketing campaigns to grab the attention of the public.

Blogs, social media, local advertising – be creative and take advantage of every opportunity to put your business in the spotlight, just ensure there’s a cohesive voice across it all.

#3: build a good reputation

Chanel, Marc Jacobs, Calvin Klein – their reputations for quality have taken decades to develop but don’t let that deter you.

As you launch your startup, build a strong foundation for future success by putting credibility and excellence at the forefront of your customer service.

From asking for feedback via surveys to offering loyalty schemes to shoppers, make sure your customer leaves happy and they’ll be far more likely to recommend you to their friends.

Follow these three simple marketing rules and your startup is sure to stand out from the crowd, no matter how competitive or busy your chosen industry is.