When it comes to retailing, effective promotional planning is crucial to the success of any salon owner or independent stylist. Becoming a master of product promotions can not only increase revenue, but also give stylists a competitive edge against major stores and online retailers.
Read on to explore the key techniques and strategies beauty pros can use to create impactful product promotions for their beauty business.
Defining The Objective
Before beginning a promotion, define the objectives and decide what you want to achieve, whether it’s boosting sales, increasing brand awareness or improving client loyalty. Setting these goals will create an outline for the promotion and help track its success.
Choosing Effective Products
Choosing effective and reliable products for promotions is crucial because they represent a stylist’s professional recommendation, product knowledge and credibility to both existing and potentially new clientele. One example of a cost-effective promotion with reliable products is Biolage’s open stock liter sale happening this January. Biolage’s sale includes 25 percent off many fan favorites, like Color Last, Color Last Purple, Hydra Source, Ultra Hydra Source plus many more, and if you pass those savings along to your clients, you’re easily in the game to competing with major stores and online retailers.
When your client buys their home care products from you, there are several big wins. With your professional recommendation, you’re able to control what’s going on with their hair between salon visits and know that they’re using the best formulas for their hair types and textures. As they notice their hair condition improving over time, you’ll feel the love in the forms of client loyalty and referrals.
And of course, there’s the boost to your income. Retail sales are what the financial folks call “passive income.” It means you earn money without having to spend time to perform a service. How much money? Consider these numbers:
- If you sell 50 liters, you could earn an additional $612.50.
Those extra dollars can add up quickly and you’ll find that retail products can make a substantial difference to your overall income.
Here are some ways to set yourself up for success when doing a retail promotion.
If yours is a commission salon.....
Start by laying some groundwork. Create the details of your promotion plan—timeline, products offered, etc. Gather your retail sales data by employee and by month. Then set specific goals, per month and per promotion, for each employee. Calculate the quantities of product you will need to achieve your goals and be sure to place your order a minimum of two weeks prior to the promotion to account for shipping mishaps or delays. Craft each service provider’s incentive. For example, you may decide that for each liter sold, the individual will earn an additional one percent in retail commission after a minimum of $200. Then work out your marketing plan. This is the time to get creative! Use social media, signage and email communication as tools to get the message out there. And don’t forget that Biolage is standing by to help at www.biolage.com.
Ready to go? Here’s what’s next. Call a team meeting to communicate the details of the promotion, align your team on key talking points and fire up the gang! Get your space retail-ready with signage and product displays. Begin tracking each team member’s progress and keep celebrating the wins along the way.
Once the promotion is a wrap, it’s time for a de-brief. Review the sales data. Look for trends, including which products sold the best and which employees were the most successful. Share the results with the team. Discuss what worked, what didn’t and what could be improved. These actions are essential for moving forward and accomplishing even more with the next promotion.
If you’re an independent stylist.....
The process is very similar to a commission salon, except you’re doing it as a solo act. Start by formulating your promotion plan, analyzing your existing sales data so you know what’s selling and what isn’t. Set monthly goals, figure out how much inventory you will need and place your order in plenty of time to allow for delays. Then create your marketing strategy, including social media, emails, signage, etc., and don’t hesitate to lean on www.biolage.com for help and free marketing tools.
Next, get your space ready to sell. Create cool displays, have fun with props and signs. Cruise around other salons and even other types of small stores to get display and merchandising ideas. Once the promotion gets underway, stick with it! Keep your goals in mind, keep your eye on the prize, pivot when necessary and don’t settle for less than what you expect. Review your progress often and congratulate yourself on every incremental win.
When the promotion is complete, set aside time to analyze the sales data. Identify sales trends, figure out which products were winners, and which were not. Think about the marketing efforts that worked and how you can amplify those efforts next time. Also think about what may not have had much impact and what you might do differently instead. Then put the next promotion on the calendar right away and get ready for an even bigger and better success.
Taking time to set up an effective retail strategy takes time, energy, and the ability to pivot quickly. Don’t be afraid to try a new promotion and see what works and learn from it. The more you make this a habit, the more often you’ll see the results you want and the ability to stay ahead of the competition.