Hoping to launch my brand next year!!!!!!! Pls comment on my game plan

[fastlanedoll]

********* THANKS A MILLION FOR READING, IF YOU DON'T WANT TO READ THE WHOLE THING, PLEASE JUST READ THE NUMBERED POINTS, AND GIVE ME POINTERS IF YOU COULD, THANKS IN ADVANCE **********

Hey everyone. Hope coronavirus is treating you well.
As my exam was postponed, I don't have time to go full speed on this yet, but I do have a plan outlined.

As a doctor who studied an additional diploma in Dermatology (I'm not a Dermatologist), I see holes and problems in some products on offer in the market today.
I want to patch those holes. I *know* how competitive the skincare market is, but I do believe I have a different 'angle'.
Combined with my own clinical experience & evidence-based medicine, I believe I'll be able to come up with a convincing campaign.
How the product will sell is a different matter, but it's my dream to make this work, and I'm thinking if one product doesn't work, I'll investigate another until *something* works.

I'm a complete newbie here- no business partners, no entrepreneurial experience, no nothing.
So I kinda want to outline my game plan here and beg all you experienced entrepreneurs here to give me some heads up / potential for improvement / error of my ways etc. (thanks in advance!)

First step is market research.
I've read several good threads on here on this.
The adwords thing seem like a good way to go (thanks Andy Black!)- several things I don't understand though:

1) I tried going on Google trends to explore how many people are searching for my product, and it only shows a number capped by 100, but I think the actual number of people searching are a lot more than that? How do I find that number? And how many do you reckon is high enough for it to be worth it? Any other ideas to do needs research?

2) Somebody advised to look at current ads running on my search, but I only see a bar at the top of google, are those my main competitors, or are they just paid ads? I believe I have something on offer that's different from all of them so that's good.

I already bought a domain (yay). I plan to set up google ads, send traffic to my page where they'll find some info on why they should buy my product (backed by research, and outline of product features). I will give a 50% off offer on the initial launch if they answer a few questions (which will help me determine price, interest etc.) and ask them to leave their email to receive a code of the discount. If I don't get many replies on this, then I'll just have to assume that my idea isn't well-received and abandon ship- correct?

Next step is actually getting the product manufactured.
Two main steps to this: the product itself, and the packaging

3) I remember somebody saying that it's unwise to go to someone who advertises themselves as manufacturing 'private label' (I think it was biophase ). May I know why this is? Will I get ripped off? Since I have no 'connections' in the industry, Google is all I have to go on (good ol' google). If anyone can can connect me with someone / point me in the right direction, I'd be utmost grateful. I do have 'some' idea of what I want in my product (I'm a very avid user of skincare myself, and I have a pretty damn good idea of what products work well and which don't. I have an idea to combine two products together into one, give or take. I'll definitely need someone who has experience in this area to help me with this though, as formulas need to be tested, stabilized etc.

4) Sourcing the packaging is a different animal as well, as I see very *similar* product on the market, but not exactly. If someone can point me in the direction on a manufacturer who does good custom packaging will be much, *much* appreciated!!!

The calculation of costs, and how much people be willing to pay for something like this will be the last go-ahead.
One of the reasons I really want to go with this first idea even if it's not like to be greatly profitable is because................ IT'S SOMETHING I CAN USE MYSELF!
Oh, and how exciting it'll be to own a skincare line and call it YOURS!

5) I'm not sure how these things work, do skincare lines do manufacture on demand, or is it routine that I'll have to buy a large batch upfront?

Lastly.... *drumroll*
I plan to get instagram / youtube.
BUT, being a doctor, I have a lot to lose if something goes wrong, and my name gets dragged in the mud, like affecting employment opportunities, etc. etc.
Yes, I'd LOVE to say I'll NEVER need a boss again, but let's get real, people's first ventures usually don't take off, so I'll still need a job for a while.
I'm Asian, and Asian cultures aren't as open-minded about these things, I just wonder what will happen if I became semi-known, but my ventures fail.
Should I try to launch first, THEN build up my name if it succeeds, or try to build a customer base through off these platforms by offering value and build up anticipation for the product?

Any help for a newbie, is much, *much* appreciated!!!!! <3

p.s. Really want to talk to / connect with anyone here who's had experience in this field. Please don't hesitate to PM me

 

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[Odysseus M Jones]

IT'S SOMETHING I CAN USE MYSELF!
Oh, and how exciting it'll be to own a skincare line and call it YOURS!

That's reason enough!
I'm just tagging @Andy Black for you so he sees the post & can offer help.
(And I'd like to see what people say about contract bottling & packaging)

*edit* also tagging @biophase

 

[fastlanedoll]

Agree its reason enough, but if manufacturers require me to buy, say, 5000 pieces up front, I can't exactly use it all before it expires

 

[Boychamp]

So I just wanted to drop a quick line when it comes to ads and checking what's working. I can't say much to the affect of Google but if you want to see what other companies are doing on Facebook/IG, you can go to Facebook Ads Library (google it) or if you see a company you know on Facebook or see an ad and go to the companies profile, you can go to their page, scroll down till you see "Page Transparency" and click "see ads". (Native, the deodorant brand I used in the example, is also absolutely crushing it if you want inspo).

I know that doesn't answer your questions but it was the only real advice I could give. I'll leave the rest for the guys more knowledgeable about the other topics. Also, best of luck!

 

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[fastlanedoll]

Thanks!

 

[The-J]

Skincare is rough.

Really rough.

I've spent years in the industry, made millions for people I've worked with, and it's still so damn difficult to make it work with a new brand in 2020.

It's not impossible though. Being a doctor gives you an edge. Being Asian gives you an edge.

But mostly if you're willing to put your name and face on the brand. As you say, this is risky for your career. It's up to you if you want to do this.

To address your points one by one.

1) Google Ads is definitely something you can test. Using Google Trends is good for seeing patterns in searching over time, but Google Keyword Planner is what you REALLY want to use. It's in the Google Ads dashboard. That will give you a better number of people searching.

2) If you're talking products, you'll likely want to look at Google Shopping and see who is advertising there. Turn Adblock off and it should say "Ad" next to it in small font.

To look at current Facebook/Instagram ads running, search your competitors in the Facebook Ads Library.

3) It's essentially because people advertising as private labellers are selling to you at a markup. But it's your choice whether you want to sell private label. Private label isn't a bad thing, it's just an arrangement to purchase a ready-made formula and slap your own label on it and call it your brand. It's very common in most industries since a manufacturer is unlikely to want to spend time and money on marketing individual products when they can make thousands of different ones for people who are simply asking for them. @Walter Hay can you comment on this?

4) Can't answer this one myself

5) You can private label skincare. Depending on what you want to order, MOQs can vary. But if you want a custom formulation done... expect a very high MOQ. It's not worth it for a manufacturer otherwise.

---

On the industry:

There are only a few ingredients (hyaluronic acid, retinol-A, vitamin E, there are several others) that are proven to work. The rest of them are either undergoing trials or lack evidence. As one might say, it's mostly marketing. Your job is to convince people that whatever is in your skincare is going to treat their skin ailments better than anything else out there, and make them feel like they've always wanted to feel. Bringing up new evidence will help greatly, and certainly will help with your PR and content campaigns. But it's not the end all be all: people still need to be willing to switch.

Expect high refund rates, unless you do a damn good job educating people about skin types and reactivity. Thing is, no skincare works for everyone: it's mostly down to how your skin behaves naturally. Skin that doesn't produce much oil (aka dry skin types) doesn't react well to the same products that skin that produces a lot of oil (aka oily skin types) do. Same with different types of combination skin. Don't worry too much about refund rates: just take say 10% (your actual rate should be much lower) and plug that into the business model.

(just in case) Skincare products containing CBD is still subject to cannabis regulations. It's legal in all 50 states, but still subject to regulations. See the Farm Bill of 2018 for more info.

Skincare buying is concentrated mostly around online and B+M retailers like Amazon and Sephora. You can sell it direct to consumer, but your offer has to be really, really good. The results should speak for themselves. Like, a no-brainer "yes I want this and am willing to wait several days for this". If it's not, you have an uphill battle, especially on paid social platforms. There are lots of ways to sell direct to consumer (not just paid social) and you're going to want to test lots of them.

Hope this helps

 

[fastlanedoll]

I've spent years in the industry, made millions for people I've worked with, and it's still so damn difficult to make it work with a new brand in 2020.

Any secrets to share? Or are you under NDA

And damn, I cant even formulate myself? My product is somewhere between skincare & cosmetic, actually. I think i'll just have to look around myself and see what there is. But right now, it doesn't sound too promising

But thanks a lot!!

 

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[The-J]

And damn, I cant even formulate myself? My product is somewhere between skincare & cosmetic, actually. I think i'll just have to look around myself and see what there is. But right now, it doesn't sound too promising

You can formulate yourself. That's absolutely a road you can take.

It's a long and expensive road, though. Will require significant help. You'll need a lab that will help you formulate. You'll need to test your product. You may need to do a clinical trial if you want to present your solution as superior based on the evidence. It might be worth it if you honestly think your product is revolutionary and will make a serious dent in the competition. If you know that your product (if done correctly) will clearly be better than everything else for sale, then do it. It'll just take a long time and it won't be cheap. For that reason I really don't recommend it... selling skincare is hard as it is!

 

[Kid]

How do I find that number?

If you want real numbers, create real ad without your product.
It can be pointed to someone's else existing product
on whatever site he/she has.
This will give you views number and potentially clicks number (plus click through rate)
Also you'll get cost of each click.
You might do a bit more, setup a page with images/copy and point final links to someone else product. This helps to estimate how many people are window shopers vs people with intent to buy. Not 100% accurate but better than nothing.

I remember somebody saying that it's unwise to go to someone who advertises themselves as manufacturing 'private label'

The difference is like talking to someone who does dropshipping successfuly versus listening to another wanabe dropshipping guru that sells 'make money' course.
In short you can find better deals (both quality and price) with someone who doesn't advertise himself as 'private labeling' for living.

Last thing i can add is that its heavily regulated industry (with different laws in US, EU and Asia).
I think I've read somewhere that EU is even more regulated then US when it comes to cosmetics, but don't quote me on this.

That would be all i know on this topic.
Good luck!

 

[fastlanedoll]

Damn, I was just hoping to tweak some formulas, i'll see what I can do.

I don't get the part about differentiating window shoppers & ppl who buy.. So with the ad I set up, I can actually see who actually bought even if its bit my product (bear with me, I've never used google ads )

Thanks both!!

 

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[Walter Hay]

3) I remember somebody saying that it's unwise to go to someone who advertises themselves as manufacturing 'private label'

Thanks to @The-J for tagging me on this question. I have posted such a statement. It is in fact an extract from my labeling book.

The biggest problem I see in looking for businesses that advertise that they do private labeling is that potentially thousands of people will go to that site and many of them will choose the very product that you want to resell. This makes brand differentiation much more difficult.

In effect it is similar to dropshipping except that you get the worst of both worlds, having to buy substantial inventory, and yet still head into a very crowded and competitive market where the same product is being sold by large numbers of competitors.

I have a suggestion, based upon what I regard as the most clever and successful product launch ever. I will PM you with the idea, because it is too valuable to broadcast. Some readers of my labeling book might have taken up the idea, but whether in the cosmetics or skincare market I don't know. It can apply to other market sectors also.

4) Sourcing the packaging is a different animal as well, as I see very *similar* product on the market, but not exactly. If someone can point me in the direction on a manufacturer who does good custom packaging will be much, *much* appreciated!!!

Yet another reason to avoid suppliers who advertise as Private Label suppliers is that they invariably have in-house designers for labeling and packaging. They often have in-house printing. This is why you see so many products packaged and labeled in a similar style.

Brilliant packaging and labeling are essential if you are to make good progress in such a tough market. When thinking about packaging, don't neglect the different levels of packaging. Container, inner package for the container, outer package for shipping. All have ways of appealing to your target market, but most people don't understand the emotional appeal that the first two can have, and the advertising value that the last one can provide.

Walter

 

[Kid]

I don't get the part about differentiating window shoppers & ppl who buy.. So with the ad I set up, I can actually see who actually bought even if its bit my product (bear with me, I've never used google ads

If you want really know who would buy, it involves a bit more of page setup.
With ads alone you might create "Buy now" button, on your landing page.
But still there is a thing like "cart abandonment" meaning people put things in the
cart but don't buy them.
So your stats would still be skewed

The more involved setup is to create site that is exactly like shop,
with images of your product, add to cart buttons etc.
The only difference is that you redirect the "final" payment button
to page saying "Sorry, due to high demand we are out of stock. Leave an email to get 10%
discount for inconvenience".

One can assume that this final button was click by person who would insert card details.

By "final" i mean when someone put product into cart, inserted his shipping adress, chose payment method and hit "Pay now".

You might even go as far as letting them put the card details in some form and only after that, redirect them to "sorry" page. This way you would be 100% sure that person would "really" buy your product.

Hope it clears this out.

 

[fastlanedoll]

Thanks a lot!!

 

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[Overlander]

I plan to set up google ads, send traffic to my page where they'll find some info on why they should buy my product (backed by research, and outline of product features).

Don't forget to also highlight benefits.

Good luck on the journey!

 

[Walter Hay]

Don't forget to also highlight benefits.

Good luck on the journey!

Benefits and product features don't sell like emotional appeal does.

Walter

 

[fastlanedoll]

Or how the product affects the customer. Like Steven Job's approach.

 

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[Walter Hay]

Or how the product affects the customer. Like Steven Job's approach.

In effect, any good sales person will apply those principles of "empathy" and "impute", i.e. presentation that conveys the real value of the product or service.

That's far better than a list of benefits.

To be able to present your product effectively, whether online, on a B&M store shelf, or face to face, you must first understand your customers.

Sure they want information, and you ignore that at your peril, but the buying decision is made on their perceptions and emotions. This is why I subtitled my labels that exploit book with what does the exploiting of the customer. It's the power of Psychology, Persuasion, and Emotion.

If you haven't thought about the customer's ambitions, expectations, and
needs (wants ), how can you appeal to those deep seated feelings (emotions)?

If all buying decisions were rational, a list of product qualities or features would be all the sales copy you would need. But the reality is that sales copy most often incorporates emotive words. Notice how often you see: Reduced, Special, Discount, Free. There are a lot more emotive words that can be used, depending on the target customers.

It is up to sellers to put some effort into figuring out what words will hit the target.

Walter

 

[Xeon]

Frankbody.com if you haven't already.
Maybe try a unique marketing angle like them. The way the words talk to the customer is just sick.

Meet Frank. He takes care of you and makes your skin smooth. Girls and women love Frank. Join Frank's Hotel Pink!

"Unlike your ex, I’m non-toxic. I use natural and naturally derived ingredients that are tested on babes, not bunnies."

"How are you different from the other guys?"
--- "I don’t take myself too seriously but I’m serious about the right thing ”

 

[fastlanedoll]

Thanks!

 

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[DeletedUser-1]

********* THANKS A MILLION FOR READING, IF YOU DON'T WANT TO READ THE WHOLE THING, PLEASE JUST READ THE NUMBERED POINTS, AND GIVE ME POINTERS IF YOU COULD, THANKS IN ADVANCE **********

Hey everyone. Hope coronavirus is treating you well.
As my exam was postponed, I don't have time to go full speed on this yet, but I do have a plan outlined.

As a doctor who studied an additional diploma in Dermatology (I'm not a Dermatologist), I see holes and problems in some products on offer in the market today.
I want to patch those holes. I *know* how competitive the skincare market is, but I do believe I have a different 'angle'.
Combined with my own clinical experience & evidence-based medicine, I believe I'll be able to come up with a convincing campaign.
How the product will sell is a different matter, but it's my dream to make this work, and I'm thinking if one product doesn't work, I'll investigate another until *something* works.

I'm a complete newbie here- no business partners, no entrepreneurial experience, no nothing.
So I kinda want to outline my game plan here and beg all you experienced entrepreneurs here to give me some heads up / potential for improvement / error of my ways etc. (thanks in advance!)

First step is market research.
I've read several good threads on here on this.
The adwords thing seem like a good way to go (thanks Andy Black!)- several things I don't understand though:

1) I tried going on Google trends to explore how many people are searching for my product, and it only shows a number capped by 100, but I think the actual number of people searching are a lot more than that? How do I find that number? And how many do you reckon is high enough for it to be worth it? Any other ideas to do needs research?

2) Somebody advised to look at current ads running on my search, but I only see a bar at the top of google, are those my main competitors, or are they just paid ads? I believe I have something on offer that's different from all of them so that's good.

I already bought a domain (yay). I plan to set up google ads, send traffic to my page where they'll find some info on why they should buy my product (backed by research, and outline of product features). I will give a 50% off offer on the initial launch if they answer a few questions (which will help me determine price, interest etc.) and ask them to leave their email to receive a code of the discount. If I don't get many replies on this, then I'll just have to assume that my idea isn't well-received and abandon ship- correct?

Next step is actually getting the product manufactured.
Two main steps to this: the product itself, and the packaging

3) I remember somebody saying that it's unwise to go to someone who advertises themselves as manufacturing 'private label' (I think it was biophase ). May I know why this is? Will I get ripped off? Since I have no 'connections' in the industry, Google is all I have to go on (good ol' google). If anyone can can connect me with someone / point me in the right direction, I'd be utmost grateful. I do have 'some' idea of what I want in my product (I'm a very avid user of skincare myself, and I have a pretty damn good idea of what products work well and which don't. I have an idea to combine two products together into one, give or take. I'll definitely need someone who has experience in this area to help me with this though, as formulas need to be tested, stabilized etc.

4) Sourcing the packaging is a different animal as well, as I see very *similar* product on the market, but not exactly. If someone can point me in the direction on a manufacturer who does good custom packaging will be much, *much* appreciated!!!

The calculation of costs, and how much people be willing to pay for something like this will be the last go-ahead.
One of the reasons I really want to go with this first idea even if it's not like to be greatly profitable is because................ IT'S SOMETHING I CAN USE MYSELF!
Oh, and how exciting it'll be to own a skincare line and call it YOURS!

5) I'm not sure how these things work, do skincare lines do manufacture on demand, or is it routine that I'll have to buy a large batch upfront?

Lastly.... *drumroll*
I plan to get instagram / youtube.
BUT, being a doctor, I have a lot to lose if something goes wrong, and my name gets dragged in the mud, like affecting employment opportunities, etc. etc.
Yes, I'd LOVE to say I'll NEVER need a boss again, but let's get real, people's first ventures usually don't take off, so I'll still need a job for a while.
I'm Asian, and Asian cultures aren't as open-minded about these things, I just wonder what will happen if I became semi-known, but my ventures fail.
Should I try to launch first, THEN build up my name if it succeeds, or try to build a customer base through off these platforms by offering value and build up anticipation for the product?

Any help for a newbie, is much, *much* appreciated!!!!! <3

p.s. Really want to talk to / connect with anyone here who's had experience in this field. Please don't hesitate to PM me

Are you still pursuing this now that you have YouTube plans?
Or is it both?

 

[fastlanedoll]

The truth is, I don't know.
My exam's in a week.
I will sit down and have a really good think about what I want to do after that.

But possibly both.

 

[Odysseus M Jones]

The truth is, I don't know.
My exam's in a week.
I will sit down and have a really good think about what I want to do after that.

But possibly both.

We love a double whammy!

 

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