By Hayley Hoffman
Ever wonder why you see so many 15-second-winged-eyeliner tutorials on your Instagram explore page? The makeup industry may be taking over. Between quick tutorials and an increasingly growing audience, it’s no wonder why the cosmetic industry is doing better than ever before.
Since 2002, revenue of the cosmetic industry has had its ups and downs, but as of 2016, is at an all time high, with an annual revenue of 62.46 billion dollars.
With the new ability to post videos to Instagram, the makeup industry has seen many benefits. Not only is it easier for brands to get their content in front of their followers, but it also allows them to show their consumer exactly how the product is intended to be used. On top of tutorials for the brands to post, they often repost UGC, rewarding customers for using social media to promote their brand, while still showing off their makeup talents. For example, Anastasia Beverly Hills, a brand famous for the “Dip Brow” eyebrow kit, and “Glow Kit”, often reposts different looks made by customers on their widely-followed Instagram page.
Instagram isn’t the only Platform that’s seen a spike in makeup/cosmetic related content. Youtube has become the go-to site to learn how to apply makeup. Everything from everyday looks to extreme alien costume makeup, Youtube has it.
95% of people searching for beauty content head to Youtube to watch makeup-related videos and get beauty advice. Since Youtube contributed to the extreme success of the first ever beauty blogger, Michelle Phan, local makeup gurus have rushed to get in front of the camera, and amateurs have rushed to learn.
Actually, 97% of all beauty-related content on Youtube are made by beauty vloggers and “haul girls,” (girls that go on extreme makeup shopping sprees and explain in front of the camera what everything is while giving a review), causing brand-led and controlled content to contribute only 3% of the 15 billion beauty related videos. If brands know these types of videos are the most successful, why aren’t they hopping on the vlog/haul train? if single haul girls are finding more success than an entire brand, how can marketers use that to their advantage? Influencers are very important in the makeup industry, specifically on youtube. In fact, the top 25% of beauty bloggers have 115x more subscribers than big beauty channels, increasing a brand’s desire to work with these already-youtube-famous makeup artists.
Jaclyn Hill, a Youtuber with over 3 million subscribers, teamed up with BECCA Cosmetics to create a “Shimmering Skin Perfector” called “Champagne Pop”. Champagne Pop generated 4 million dollars in the first 4 days it was released. Stores sold out, and her subscribers flocked to Ebay and other sites to buy it for even more than the $38 it was sold for. The success of Champagne Pop can be traced back to the popularity of Jaclyn Hill and her extreme influence in the beauty product world.
Social media has a tendency to make or break a brand, especially in the beauty industry. Beauty and cosmetic-related brands should start considering these facts when advertising new products and producing content for their social media pages. Just pairing up with one vlogger could bring your brand from underwhelming to sold-out success!
How do you think cosmetic brands are succeeding on social media? Leave your thoughts for the Likeable Media team in the comments below!