What sets successful private label brands apart? If you’re just starting out (or if your current private label business could use a boost), that’s the ultimate question.
Many believe that a big investment is the key, but we know better — after more than 25 years as a worldwide private label provider, we’ve seen hundreds of brands start small and grow into incredibly lucrative retail lines. Explore the roadmap below to see what smart businesses do in common along the way to success.
Day 1-7: Lay a Strong Foundation for Your Product Line
Understand your customers - People with various skin concerns, demographics, and needs will shop for different skin care products. Perform informal surveys and get feedback to judge customers’ product interests.
Find a profitable niche - If you choose to share shelf space with other retail brands, product positioning is crucial. Stand out from competitors by focusing on specific categories or customer interests that won’t overlap other brands’ offerings.
Curate a strong product collection - Our experienced CosMedical Skincare Specialist will work closely with you to build a cohesive, profitable skincare line with the ideal mix of solutions to fit your niche and satisfy your clients’ needs.
Choose the right point-of-sale system - A great POS system can help your busy business grow without headaches. Look for an easy-to-use service that connects to your inventory and accounting systems while offering useful functions like customer notes, e-commerce integration, customizable reports, sales targets, and real-time insights.
Plan inventory management now – Don’t lose sales to out-of-stock products. Plan cycle counts at least every 2 weeks to stay on top of your inventory levels and get product orders placed one or two weeks before you need them. Orders should match your future business forecast — consider your appointment schedule, upcoming promotions, and in-store events.
Day 10-30: Get on Track with Training and Merchandising That Sells
Start off with live training – Customers like to buy from enthusiastic staff who are passionate about your products and eager to share the benefits, so personal experience is key. Schedule initial product and sales training with your CosMedical Account Rep after receiving your first order so that employees can try each product personally.
Tailor learning by staff position – Training is most effective with an individualized approach. Your Account Rep will provide expertly specialized sessions to each group on your team with all the knowledge and tools needed to ensure every staff member feels comfortable and empowered to sell your products.
Boost revenue with visual merchandising – Studies show that even a simple point-of-purchase display can dramatically increase sales. Design displays strategically (and refresh seasonally) to attract customers’ attention, prompt them to explore your products, and motivate impulse buys.
Spotlight your products – Create special skin treatments and facial protocols specific to your private label brand. CosMedical’s glycolic peels and other professional-grade formulas are available in back-bar sizes — incorporate them into both specially-branded and existing services to build brand awareness and trust at every opportunity.
Plan out on-site promotions – Drive revenue and increase customer retention using seasonal sale events, loyalty programs, referral discounts, and other initiatives. Utilize the marketing collateral and free product samples CosMedical offers to engage and reward customers.
Day 31-60: Roll Out Digital Sales and Scalable Marketing
Craft your online marketing strategy – Outline the path you’ll take to achieve your specific objectives using social media, email blasts, website marketing, online advertising, search engine marketing (SEM). Create a marketing calendar to keep everything on time, on track, and in one manageable place.
Create (or update) your company website – This is the primary online reflection of your business, so be strategic about branding, content, design, and functionalities like appointment booking and e-commerce integration. Consult with your Account Rep for valuable insights and recommendations to help you get started.
Set up your eCommerce store – Online sales will boost revenue, broaden your reach, open up marketing opportunities, strengthen sustainability, and help scale your business. Look for a platform that’s easy to navigate and offers features like auto-replenishment and one-click ordering. Promote with welcome offers, web-exclusive product bundles, and special perks.
Get connected with social media – Social media won’t generate revenue on its own, but it offers an invaluable marketing platform to regularly connect with current and potential customers. Use it to engage, educate, inform, and differentiate yourself from similar businesses in your area.
Day 61-90: Perfect Your Profits and Drive Growth
Track key metrics – Focus your attention where it matters most by assessing the return-on-investment (ROI) for every procedure, treatment, and product you offer. Measure client visits and private label sales to identify where your revenue is really generated.
Motivate your team – Employee focus and motivation are critical factors to private label revenue. Set sales goals and reward staff with commissions on overall product sales, special incentives for private label product sales, seasonal incentives, and sales-performance incentives for individual winners and your teams.
Make continuing education a priority - Quarterly follow-on training will keep your employees fresh and energized each season. Visit our library of resources to help you deliver on-site or webinar training on products, services, trends, best practices, maximizing revenue, and more.