The Innovation Blog

Disruption by startups isn’t limited to the tech sector in Silicon Valley. Cosmetics companies are experiencing their share of industry shake-up, thanks to trailblazing brands such as these three:  Goldfaden MD Goldfaden MD blends science and nature to deliver a truly unique product. Normally, high-end skincare brands offer consumers two choices: advanced doctor-developed treatments or natural, organic options. Goldfaden MD took it one step further by diving into dermatologist research to discover which natural components could match the power and efficacy of the prescription-strength products. As the world moves toward healthier, more environmentally conscious lifestyles, Goldfaden MD is leading that charge in the skincare world. Consumers want products infused with as few unnecessary ingredients as possible and sourced in ways that minimize long-term negative impacts to nature but still provide scientifically proven efficacy. Combined with smart marketing and a loyal consumer base, it’s easy to see why Goldfaden MD is garnering attention for the products coming out of its natural skincare lab. Leaders at Goldfaden MD encourage other companies to stay true to their core values in order to find success. From product formulation to packaging to messaging, every component of the brand message should convey a story that customers […]

The natural ingredient market is an industry with a future as bright as the glow some of its products provide users. By next year, the market is expected to reach nearly $16 billion and will be just shy of $22 billion by 2024. Natural and naturally-derived ingredients are obviously on an upward trend. Brands would be wise to incorporate them into their offerings, especially if they want their skin care products to stand out during these summer months. Long hours in the sun, pool chemicals, heat, and humidity all take a toll, which is why a diligent skin care routine featuring scientifically proven ingredients is so important. Brands that implement those ingredients into their own offerings help customers maintain long-term skin health and can find themselves in customers’ skin care rotations for the foreseeable future. The Shift Toward Au Naturel Sales for natural-based beauty products jumped 7 percent from 2014 to 2015, compared with a 2 percent spike for beauty products overall. Here are a few reasons that may be the case: Scientific advancements: Many natural and naturally-derived ingredients are just as chemically and biotechnologically advanced as synthetic ingredients, and many have been scientifically proven to be equally effective, if not more so

What makes consumers pick one cosmetic product over another? Variables such as a trusted brand and an appealing price obviously play big roles, but packaging, too, is crucial — especially for new brands trying to break into a saturated beauty market. Analysts predict the global cosmetics market will jump 13 percent annually until at least 2021, meaning companies hoping to compete alongside Revlon and L’Oréal for pieces of the billion-dollar pie should take heed. Tear off the recognizable names and remove the quirky, attention-grabbing monikers, and what do you have? A carton, a bottle, or a tube that can speak volumes about brand identity. Just make sure its look is saying what you want it to. Pack Smart From the Start Whether your cosmetics packaging just isn’t clicking or you’re starting a new design, ask yourself these three questions to ensure your packaging and product align: What kind of brand do you want to be? Before you draw up any visual packaging prototypes, you must establish a concrete brand profile. It’s important to have a clear understanding of your brand’s purpose so you can attract those you want to target. This profile will define your brand’s message, voice, and personality; it can

The term “crowdsourcing” immediately conjures images of funding platforms. However, while crowdsourcing is a good way to raise money, the beauty industry shows that it’s a useful tool that can leverage fans and followers into treasure troves for marketing and innovation. But crowdsourcing isn’t just about askingpeople for their opinions. It’s about asking the right people, like followers of your brand’s social influencers, for guidance on industry trends and product referrals. Brand followers are already invested in the success of the company, so they’re willing and able to provide the kind of feedback that can help shape future offerings. This is why beauty brands associate with social media influencers more than any other industry. The more popular the influencer, the larger the audience a brand can survey in order to gain insights it needs from its target demographics. These three beauty brands have mastered the art of crowdsourcing, bringing buzz to their new products and creating diehard fan bases eager to participate. By mirroring the lessons that each one teaches, other brands can turn crowdsourcing into a valuable marketing tool. 1. Kylie Cosmetics by Kylie Jenner: It’s OK to start small. Kylie Jenner, the youngest member of the Kardashian clan, has a

Sometimes, a beauty company’s fans have insights and preferences that the company founders may not be aware of. Through crowdsourcing, growing brands can extract that information from the masses and deliver better products that more people will want to purchase. Beauty brands can utilize social media platforms to collect just that type of feedback from customers. Through Facebook, Instagram, and Snapchat, these brands strike up open dialogues about their products that help to nurture and grow loyal customer bases. By engaging with followers and seeking their input, you can improve your marketing and innovation strategies while cultivating a community of strong brand advocates.  The Beauty of Crowdsourcing With the right audience and engagement tools, you can crowdsource everything from a brand name to a logo to an entirely new product. In 2012, Bobbi Brown got the nostalgia bug and decided to revive some of its most popular lip colors that it had stopped producing. The company’s namesake and CEO posted a video on the brand’s Facebook page and invited its 250,000 followers to vote on which shades they’d like to see restocked from a list of the 10 most frequently requested. The chosen colors were eventually sold directly and exclusively through the

The brands customers invest in represent more than just the purchasing of goods. For some consumers, it means using and representing products they feel personally connected to. Take, for instance, the indie brand phenomenon, privately-owned companies at which the founders are still the primary decision makers. Specific demographics are drawn to these brands thanks to their niche appeal and the lifestyle needs they might address for certain buyers.  Though indie brands are thought to represent just 5 percent of total beauty market revenue, they’re growing at a 20 percent annual clip, due in large part to increased visibility and publicity brought on by Millennial buyers. In the past, independent beauty brands needed to eclipse $100 million in annual revenue to draw major corporate attention, but the proliferation of social media and word-of-mouth marketing is now a driving force in beauty brand success. The NPD Group’s Makeup In-Depth Consumer Report found that influencer YouTube videos inform the decisions of 92 percent of makeup users. The ubiquity of indie brands signifies a shift for the whole beauty and skin care industry going forward. Here’s what we could see happen: Product variety:Indie brands’ partnerships with popular retailers help these smaller brands scale faster, promote more, and even