Begini Cara Menghindari Persaingan Harga Antar Brand Lokal ft. Michella Ham | Theory #37

Summary

In this insightful discussion, the founder of Skin Game reflects on the brand's journey, emphasizing the importance of branding over digital marketing as the core of business strength. Comparing digital marketing to a vitamin supplement, the conversation delves into the challenges faced by local beauty brands, especially in the competitive landscape influenced by Chinese brands. The founder shares personal strategies, such as maintaining customer loyalty and the significance of community building, while also touching on the brand's commitment to quality education through its CSR initiatives.

Takeaways

• 📘 Digital marketing is considered a supplement to branding, which is the foundation, much like vitamins strengthen the immune system.
• 🛡️ The founder of Skin Game emphasizes the importance of branding over marketing, suggesting that a strong brand identity can withstand competitive pressures.
• 🏆 Skin Game has achieved recognition and success in the skincare industry not just through profitability, but also through unique community engagement and passion.
• 🌐 The impact of Chinese beauty brands entering the market has been significant, affecting local brands and their pricing strategies.
• 💬 Customer feedback and loyalty are crucial for Skin Game, with customers returning due to the brand's commitment to basic skincare needs.
• 🔧 The company experienced a dip in revenue when expanding their product line too aggressively, highlighting the importance of a strong product foundation.
• 📉 Focus group discussions (FGD) with Skin Game's customers revealed a preference for a simpler, less confusing brand approach, leading to a reduction in product SKUs.
• 🎯 Skin Game's strategy is to focus on the essentials of skincare, positioning itself as a 'basic skincare' brand that is approachable and easy to understand for consumers.
• 🤝 The founder's personal approach to customer service, including being directly accessible for complaints, sets Skin Game apart in the industry.
• 🎨 The transcript reflects the founder's perspective on business as an art form, particularly in branding, where creativity and emotional connection are as important as profit.
• 💼 The founder's educational journey and desire to become a lecturer indicate a commitment to education and the belief in the transformative power of learning.

Q & A

What is the relationship between marketing and branding according to the speaker?

The speaker likens marketing to a supplement, specifically a vitamin, that strengthens the brand's immunity, whereas branding is considered the main food or the core of the business.

What is the speaker's view on the importance of basic skincare in the beauty industry?

The speaker believes that focusing on basic skincare is crucial and likens it to a necessity, emphasizing that even with numerous serums and toners available, the fundamental skincare products are the most important.

How did the speaker describe the impact of Chinese beauty brands entering the market on local brands?

The speaker acknowledges that the entry of Chinese beauty brands, known for their competitive pricing, has certainly impacted local beauty brands, causing a drop in revenue for some. However, they also mention the importance of having loyal customers who return to their preferred brands despite the new competition.

What strategy did the speaker employ to address the issue of revenue drop due to increased competition?

The speaker focused on understanding consumer patterns and ensuring the brand's positioning was strong. They also mentioned the importance of not expanding the product range without a solid foundation, as it can negatively impact financial health.

What role does the 'Skin Game Warrior' community play in the brand's development?

The 'Skin Game Warrior' community is integral to the brand's development. It provides a platform for informal feedback and discussions, allowing the brand to stay connected with its consumers and adapt its strategies based on their needs and preferences.

How does the speaker view the importance of customer feedback in shaping the brand's direction?

The speaker highly values customer feedback, conducting focus group discussions and being receptive to messages from consumers. This feedback is used to refine the brand's offerings and ensure they align with what the customers perceive the brand to be.

What was the initial business model of the 'Skin Game' brand, and how has it evolved?

Initially, 'Skin Game' had a wide range of products, nearly 30 SKUs, including decorative makeup and various skincare items. However, after realizing that expanding the SKUs without a strong foundation negatively impacted revenue, the brand decided to reduce its product line to just 8 SKUs, focusing on its strengths.

How does the speaker differentiate between an entrepreneur, a manager, and a brand artist?

The speaker describes an entrepreneur as someone who scales up and increases the valuation of a business, a manager as someone who is structured and handles day-to-day operations, and a brand artist as someone who treats brand creation as an art form, similar to how an artist approaches their craft.

What is the speaker's perspective on the importance of branding in the beauty industry?

The speaker emphasizes that branding is vital, as it helps create a strong connection with customers, turning them into loyal advocates for the brand. They believe that having a strong brand identity can make a business stand out and survive in a competitive market.

What is the speaker's advice for someone looking to enter the beauty industry in 2024?

The speaker suggests that the beauty industry is still worth entering, but it's crucial for newcomers to understand their strengths and capabilities. They should decide based on their abilities and not just market trends, ensuring they can offer something unique and valuable to the industry.

What is the concept behind the 'Skin Game' brand's approach to customer relationships?

The 'Skin Game' brand aims to build long-term relationships with customers, positioning itself as more than just a beauty brand. They liken the relationship to a friendship or even a life partnership, emphasizing the importance of listening to and understanding their customers' needs.