How Brands Find Customers in New Markets Like Nykaa
So, as a brand, what is the one pursuit the entire team always works towards relentlessly? Simple. It is to find customers in new markets. That is perhaps one of the biggest challenges faced by any brand.
Earlier, whilst this was a difficult proposition to break through, some of the recent unicorn business organisations like Nykaa have exactly given us the step-by-step detailed plan to be followed if a brand wants to find customers in new markets. Presenting a case study of how Nykaa, as a brand, finds customers in new markets
Yes, whether it is people or business organisations, they are always looking for ways to improve on all levels. Be it their appearance, output, or overall performance, they leave no stone unturned. In a constant search for the best beauty products for the most flawless, radiating skin or those pristine, pouty, perfect rose-red lips, beauty companies have your back. Making these dreams a part of your reality and getting them across to you—making them more readily accessible and available in stores, malls, and digitally on the internet too—the brands work tirelessly, day in and day out, to meet our target beauty needs. However, for most of these brands, one major problem has persisted—the inability to reach their customer base. Somehow, there has always been an inefficiency of sorts in being able to connect with the final customers and meet their needs, in a bid to achieve more closures.
However, Nykaa is an exception. A powerful beauty unicorn, this brand has solutions for all such bottlenecks. This personal care cosmetic e-retailer, which has personal care merchandise and offers brands from top local as well as foreign manufacturers, uses the D2C, or direct-to-consumer, strategy to do so, eliminating the middlemen since the company directly provides buyers with products that suit their lifestyles and needs.
So then, what is it that makes Nykaa unique? What is the reason behind the success of India’s first unicorn beauty e-commerce startup?
Getting noticed and creating a profitable beauty brand is a pursuit that is a labour of love, often taking years of time, investment, and effort. Although the beauty industry is a significantly expanding market, the same ratio is not meted out and matched up as far as the online sales margin share goes. This was the scenario until Nykaa emerged and revolutionised the entire beauty e-commerce business. Taking the Indian beauty markets by storm, it made everything under one roof—makeup, beauty, and skin care—available on one online platform.
So, then, the question remains: how do brands find customers in new markets? Simple. Take Nykaas business model as a working example; perhaps one of the best ways to understand how brands can work towards making customers in new markets Nourishing a deep customer relationship, here are some of the steps it undertakes to do so:
Content marketing: One of Nykaa’s core strategies to make customers in newer markets includes content marketing involving makeup tutorials and blogs about trendy events in the fashion world. For instance, the Nykaa app offers free wellness, makeup, and skincare tips for all its customers. Also, expert master classes and celeb beauty secret segments are some ways to engage more customers. Nykaa Beauty Book, the brand’s blog offering hot weekly stories about cosmetics, covers several topics, including celebrity lifestyle, wellness techniques, and in-house product reviews.
- SEO and email marketing: Nykaa also applies SEO for its brand’s content on the web, attracting more people towards it. It focuses on implementing niche keywords in its listicles, articles and blogs. This boosts the brand on search engine result pages, improving its visibility as well as its organic traffic. Result? Well, Nykaa gains web traffic of over 10 million monthly. The brand also uses promotional emails to keep active customers in the loop as regards the latest product deals and promotions.
- Social media marketing: Nykaa also utilizes social media marketing as a tool to enable viral brand awareness and thereby drive customer growth, especially in new markets. With over 3.4 million followers on its page, it keeps generating fresh content for personal care and wellness tips too. It engages with audiences on trendy subjects like say latest Netflix movies and so on, making customers interact with the brand beyond its actual niche.
- Event marketing and partnership collaborations: Partnerships always help brands leverage audiences and markets in the right manner. In a bid to do so, Nykaa has collaborated with BookMyShow to create Nykaaland, India’s first-ever beauty festival. The maiden edition of 2020 hosted over 40 native and international cosmetic powerhouse brands.
- Influencer marketing: Working alongside influencers, Nykaa uses influencer marketing to promote brand awareness. The result is that the ROI from this grassroots level marketing has shown incredible results with the brand has reached about 3 million reach within 48 hours from influencers having just 100k followers. An amazing chain synergy was created if truth be told!
Thus, using an interesting mix of these strategic touch points, Nykaa has optimised its entry and placement in the best possible markets, adding new customers every day. This is definitely a classic case study, showing us how brands are finding customers in new markets every day.
Also read: How to create your own perfect luxury brand
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