1、eGuideHow to LeverageBeauty Product Category Data in Your Marketing StrategyCategory Strategy:Lets Get RegionalUnderstand Category OpportunityVoices Part OneVoices Part TwoProduct and Team EfficiencyCONTENTS01Beauty Category Trends&Data Measurement024 Ways to leverage beauty category data for your s

2、trategyMedia Impact Value(MIV):Your Category Strategy Essential033814Beauty:New Industry ContoursBeauty Market Trends:Full CoverageProduct Category DataWhat is Media Impact Value(MIV)?xxBeauty Category Trends&Data ManagementSKINCAREBeauty:New Industry ContoursThe beauty industry has seen many makeov

3、ers,but none as drastic as life post-pandemic.Take Skincare,dubbed the pandemics most resilient beauty category.Based on our skincare consumer research displayed on the right,theres ample category opportunity for beauty brands.Category-wide,the beauty boom caused The British Beauty Council&Oxford Ec

4、onomics to divide the industry into 3 categories:Personal Care and Maintenance,Personal Enhancement,and Services.These overarching hubs include 50+subcategories,filled with unique buying patterns and nuances.And with greater categories,comes greater responsibility.Campaigning your latest serum isnt

5、just about brand loyalty.Its about relevance and impact within the categorys landscape.Strategy has never been so critical.As consumers become more demanding-and instant gratification remains the growing sentiment online-we see a stark rise in social selling and e-retailer output.That means more bea

6、uty product promotion than ever before.Weve entered a saturated market of category comparison,but what are the current category trends?Have changed skincare habitsIncreased their product useHave expanded their routine to include more products50+BeautyIndustry Categories22%40%1/3Find out more aboutSk

7、incare Industry PerformanceBeauty and the BuyerBeauty&Personal Care revenue predictions are promising.In turn,more celebrities,Influencers and non-beauty brands are entering the industry.And while fashion hit a sales slump during the pandemic,beauty was dubbed recession-proof thanks to a self-care t

8、rend.So,retail brands are turning to new categories and approaches to close pandemic-induced finance gaps and reach new consumers.UK retailer Primark,for example,partnered with Fairtrade to launch its new sustainable cosmetics collection.Cosmetics isnt a new space for Primark,but the sustainable asp

9、ect took fresh consideration.The products and campaigns ethos better aligns with Gen Zs values-driven buying sentiments.For the fast-fashion giant,category and competitor research on sustainable campaign approaches wouldve been critical pre-launch to strike the right tone and media impact.Beauty Mar

10、ket Trends:Full CoverageFind out more aboutBeauty Category MeasurementBeauty&Personal Care revenue to reach$571BN by close of 2023TOP PARTNER PLACEMENTSephora-WWPlatform:InstagramTo alkalinity and beyondSocial media is bucking new beauty trends,offering inspiration for new markets and categories.Thi

11、s could mean diversifying with alkaline-based pH beauty tonics or launching a line of hair masks.Brands are competing to become cross-category connoisseurs-and theyre collaborating!Sephora,for example,boasts products across 5+categories.The team helped Viktor&Rolf to become the top Media Impact Valu

12、e(MIV)growing brand year-on-year in S2,2022 with a partner placement that earned$78K alone.Even Moda Operandi,who burst onto the beauty scene in January,2023,now hosts 55 skincare,fragrance,makeup,haircare and body care brands.So,whether youre a hero brand launching your latest fragrance,or a multi-

13、axis brand venturing into an entirely new sector,now is the time to leverage opportunity and category data.Beauty Market Trends:Full Coverage$78K MIVGet information onBeauty Consumer InsightsProduct Category Data:What it means for your brandEntering a new beauty category is easy,but maintaining mark

14、eting momentum is another story.Its time to define a strategy that aligns with your product and its category landscape.Cross-Category SuccessRanking highly in one category doesnt equate to cross-category success.For example,Lral is the global beauty media value performer,but its makeup performance o

15、utshines its skincare results.Yet,with skincare named 2022s leading category(accounting for 41%of the market)its no surprise that Lral is endeavouring for a piece of the pie.Meanwhile,Makeup still holds the market value share within the beauty industry,as can be shown on the right.With this informat

16、ion,you can start to see why strategies should be underpinned by category-specific data to support the creation of clearer and more confident business objectives.Now that weve briefed you on some current trends,its time to formulate how you can approach beauty category marketing.Lets get started.Mak

17、e up$1.2BMIVBeauty Product CategorizationTotal$2B+4 Ways to Leverage Beauty Category Data for Your StrategyTop BrandColourPopMIV:$163MTop BrandDior BeautyMIV:$98MAMERICAS(29%)Total MIV:$3.2BAvg.MIV:$4.5K APAC(15%)Total MIV:$1.7BAvg.MIV:$2.4K Find out more about the Global State of Beauty S2,20221.Ca

18、tegory Strategy:Lets get RegionalThe Bigger Beauty PictureIf you dont know where your product ranks in the competitor landscape,you wont grow.Defining your campaign approach locally and globally is crucial to making an impact in your desired category.Want to launch a new eye-cream?The Asia-Pacific r

19、egion is the current skincare leader.Analysing the top APAC performers will improve your strategy.And who exactly are your APAC skincare competitors?Well,as of S2,2022,Dior ranked top for accumulating the highest MIV($98M).Outside of China,regional research will encourage wider brand coverage.Consid

20、ering the US?ColourPop ranks top with$163M in MIV,and monitoring the brands marketing activity would be a great step in your category research.Category Differentiators In support,modern digital tools can identify where your biggest opportunities lie,Once youve understood what differentiates your pro

21、duct from its direct competitors(and the categorys top players),you can promote its qualities more strategically,leveraging those opportunities.And these golden insights will help you to better define your value proposition for a new market.Your teams can form targeted strategies to ensure success o

22、verseas.Ready to set your products apart from crowded category markets?2.Understand Category OpportunityBy embracing a more detailed understanding of subcategories,brands can stay ahead of the curve and anticipate shifts within the industry.This knowledge empowers marketers to craft targeted messagi

23、ng,form strategic Voice partnerships,and design effective marketing strategies for the subcategories that hold immense growth potential.Identifying PotentialOnce youve identified the areas with the most and least potential,you can put your strategy into action.The good news?McKinseys projections ind

24、icate substantial growth across various categories.To begin broadly-when we look at MIV count-we already saw that Makeup holds the biggest share.Delving deeper into the subcategories of Makeup,we see Lipstick takes the biggest share with$128M.From there,we can break down subcategory performance acro

25、ss all lip products like gloss,stains,etc.This kind of data showcases opportunity and,when it comes to product analysis,you can truly compare apples to apples across the competitor landscape.22.2%Lip Products77.8%Other Makeup SubcategoriesMakeup Product CategorizationTotal$1.2B+3.Voices Part One:Bea

26、uty Categories Under the InfluenceLeveraging your most appropriate Voice(Media,Influencers,Celebrities,Partners,or Owned Media)and Channel will improve category performance.Nowadays,social media offers accelerated growth in all beauty categories.In makeup,Influencers are the dominant Voice generatin

27、g$785M MIV(Q1 2023).Consumers engage more with these makeup experts;.Operating in this category?You should consider them credible brand allies.Comparing your competitors top Voices with your own will also determine your strategic advocates.Youll see what activity to replicate or avoid.Interestingly,

28、Micro Influencers achieved the highest YoY MIV growth in 2023.User Generated Content(UGC)UGC analysis can be key to category launch success.Identifying UGC mentions will reveal ongoing conversations around your brand and products.Equally,Voice analysis identifies top placements and how many it took

29、to make a media impact in your category.Assessing this data prior to launch will offer a clearer ROI estimation and better scope for partnership investments.Theresa Spencer(Micro influencer)Channel:InstagramBrands Mentioned:Makeup A Murder,Mehron Makeup,Fenty Beauty and Huda Beauty$470K MIVMicro7.5%

30、Mid-Tier3%Mega1%All-Star4%Influencer Type YoY Growth(by AVG MIV)Find out more aboutTop Performing Makeup Brand Insights3.Voices Part Two:Understand and Outshine Competitor TacticsRemember that lip product market share we mentioned earlier?Lets see an example campaign in action.Were using our access

31、to the top performing placements across all beauty categories to focus on Armanis recent makeup campaign.Regarding strategic use of Voice,the brand chose to partner with Celebrities Sydney Sweeney and Sadie Sink to amplify their message.One placement from Sadie showcasing Armani Beauty lipstick earn

32、ed the brand$1.1M in MIV,while Sydney achieved$708K in MIV.These strategic partnerships proved dividends for Armani,widening their online reach.With access to your competitors MIV,you could match and further evolve your own marketing performance.Become inspired by competitor activity,understand tact

33、ics and adapt your strategy to outshine the competition.Sydney Sweeney$708K in MIVSadie Sink$1.1M in MIVFind out more aboutIndustry Voice Strategies4.Beauty Category DataProduct and Team EfficiencyGet ready to set your future products apart from any crowded category market.By assessing category perf

34、ormance you get a global and local view of marketing results and product promotion.Now imagine gaining that visibility across more than 54 beauty categories.Using this information,brands can see where marketing budgets will be best utilised ahead of new efforts.It also means cutting back on areas wh

35、ere investment isnt proving as fruitful.Your resource and finance management efforts just became more efficient.And efficiency is marketing critical,which is why real-time beauty category data is the best ally to your team,your budget,and your strategy.Find out more aboutBeauty Category MeasurementM

36、edia Impact Value(MIV):Your Category Strategy EssentialMedia Impact Value(MIV)One metric to quantify category and regional performanceWith so many brands to compete with for category coverage,how will you gauge marketing success in your region?Online and print listening tools alone cant offer the mu

37、ch-needed tactical insights behind each mention.Media monitoring becomes one-dimensional,with no guidance on leveraging category-specific data.Your data should be so granular,it allows you to compare overall brand,regional,category,and individual product performance.MIV is Launchmetrics own propriet

38、ary algorithm,formed by quantitative and qualitative data and comprised of four main criteria:Reach,Media Rates,Media Quality,and Content Quality.It measures impact across print,online and social media,assigning a unique monetary value to every post,interaction,and article.This established and recog

39、nized industry metric is used by some of the biggest brands in Fashion,Lifestyle,and Beauty.MIV allows you to truly quantify your marketing efforts,setting your CMO and your budget at ease,and aiding you in making it even clearer to consumers why they should switch to your brand.Find out more aboutM

40、edia Impact ValueThe Leading Brand Performance Cloud for Fashion,Lifestyle and BeautyTools&data to track and measure your Marketing Strategy from overall Brand Performance to category data specifics.Benchmark against your beauty competitors,measure ROI and drive cost savingsDive into beauty categories&subcategories by region,Channel and VoiceSimplify Media Monitoring with your print,online&social coverage all in one placePower your brand with global Beauty&Cosmetic Industry data(including China)Find out how our Brand Performance Cloud can help youLEARN MORE