How can I launch a new perfume and what are the steps I need to take? A new perfume launch takes a lot of planning, creativity and strategy. Let’s go through the process step by step of how you can maximise your chances of success.
1. Do Your Research
Research the market and identify the market segments, in addition which sectors are growing or declining. Which areas of the market are growing and which ingredients are becoming popular? You should ideally create a new perfume launch for a growing market segment, although this may sometimes mean that there is more competition. Examine other perfumes in your niche and see what is their pricing, also what are their ingredients, branding and packaging.
2. Create a Unique Concept
A new perfume launch should always stand out clearly against the existing market products and is offer something new or different. Craft a compelling story behind your perfume and think about the inspiration behind the fragrance.
3. Decide on the Price Point of Your Perfume
Knowing the price point of your perfume will tell you the fragrance oil price you can afford in your product. Before your new perfume launch it’s crucial you have a clear idea of the packaging costs you can afford.First deduct the retail margin and the wholesale margin to reach the wholesale trade price. The Wholesale trade price should cover all of your packaging, filling and fragrance costs, but also give you a reasonable profit. Additionally, including a percentage for marketing costs within your wholesale price will allow you to spend on advertising.
4. Formulate and Test Your New Perfume
Work with a perfumer or use your own nose to develop a fragrance, then trial it to see how it performs. Ensure that the fragrance performance of your new perfume launch is as good or better than the current market leaders. Ask friends, family and people from your target market to trial the fragrance to see how it performs for them.
5. Decide on Packaging and Bottle Design
For new perfume brands packaging can be a difficult subject, as custom packaging often requires higher minimum order quantities. This is why new brands often start off with standard packaging moulds which are ready and available with smaller order quantities. Ensure that your new packaging fits cohesively, and make sure that the box design reflects the character of the bottle design. Additionally consumers are increasingly discerning and will know if something doesn’t align perfectly. Packaging must also be legally compliant and contain the right information about ingredients and allergens. Furthermore, packaging must be legally compliant and the requirements will differ from one market to the next.
6. Decide on a perfume filling partner
Every new perfume launch needs a reliable filling factory partner who can ensure the right quality control and timing.
7. Branding and Marketing Strategy
Develop your brand’s visual strategy and visual identity. Create marketing materials for your new perfume launch, in addition to social media and website to communicate the brand story. Share the story behind the fragrance on various media platforms.
8. Distribution Channels
When you did your initial research you would have gained a good idea of the best distribution channels to sell your perfume through. For higher priced products you can work with luxury retailers or large department stores. For mass market perfumes you may wish to work with a company who has great distribution within supermarkets. If you wish to sell abroad ensure that you are aware of the different fragrance regulations abroad. Ensure you have the right partners for your new perfume launch who are invested in the success of your perfume. Alternatively you may decide to use the direct to market model and sell everything online on your own portal. But be aware that this requires a different skillset in order to build and market your brand and create excitement around it.
9. Sales and Consumer Feedback
Track Sales data to see how the perfume launch is going, also actively listen to customer reviews and feedback to address any issues quickly. Visit the wholesale trade to gain valuable feedback and see how the brand is performing compared to competitors. See if there is anything more you can do to encourage the trade to push your brand.
10. Post Launch Marketing
After the new perfume launch you must continue to push your product and build loyalty, as people will not look for this product until they know it well. Create seasonal promotions to encourage trial, make small trial size samples and continue to promote your brand on social media.
Any new perfume launch takes a lot of time, effort, artistry and careful planning. Having a partner like Anisha who has a vast experience of new product creation and product launching can ensure that your new product launch is a success. Book a no obligation appointment to see how Anisha can make the process a lot easier for you.
