The U.S. is the world’s leading wellness economy and is worth $1.8 trillion, according to the latest stats from Global Wellness Institute. Not bad for a sector that no one paid head to several years ago. 

Thanks to the surge in self-care, wellness tourism and personal beauty, the market is flourishing and only set to increase. Aren’t you glad to have taken the bold step of starting your own beauty and wellness business?

We bet there’s more you can do to ensure a higher return on investment and steady revenue growth. In this article, we’ll discuss five strategies to take on board.

#1 Refine your Marketing Plan

A killer marketing plan is one of the most successful ways of getting your service and products to market. 

What is your brand voice and target audience? Once you can confidently answer these questions, the next step is to tackle your value proposition. Think of it as your mission statement that lets you stand out.  

Faster Capital says the beauty value proposition should encapsulate feelings and emotions, creating powerful connections with customers.

Three elements of a successful value proposition are:

• The specific benefits
• Pain-focused
• Exclusivity

#2 Build Your Website

Selling your products and services isn’t as simple as sticking a few images and descriptions online. The purpose of your business website is to complement your brand and increase sales.

Thankfully, you have the power to build a professional website with the help of an AI website builder. Designed by an AI wizard, it gives you control over everything, from website creation to AI logos to images.

Hocoos recommends choosing a powerful AI website builder with a 24-hour customer support team to take you through the website creation process and offer free website hosting.

When shopping for an AI website builder, ensure its capabilities include an online booking system that lets customers book appointments from anywhere.

A client management system will allow you to access data that will aid in creating targeted campaigns. You can also use the website to showcase your portfolio.

#3 Tap into the Creator Economy

Previously, influencers like Charlie D’Amelio and Logan Paul were in high demand. This isn’t the case anymore. Harvard Business Review says content creators are rewriting the rulebook on marketing strategy. 

Content creators know their audience on an intimate level. They’re driving demand for specialized products and services, adds the publication. Up until now, the creator economy has flown under the radar.

After interviewing hundreds of content creators, Harvard Business Review found that smaller creators are highly influential because they concentrate on producing niche content.

The moral of the story? Create niche content that has the potential to be highly influential. Hello, Crazy Glass Lady, but make it wellness and beauty.

#4 Offer Specialized Services

Again, it’s about standing out in an already crowded market. What do you bring to the table? 

McKinsey & Company says service providers are increasingly marketing specialized services. The goal is for the customer to think the menu offerings are designed especially for them.

Wellness businesses are always looking for advanced technologies to increase growth and revenue. Stay abreast of wellness and beauty trends like injectables and laser treatments. Aim to offer services that go beyond the simple salon or beauty treatment.

#5 Expand your Portfolio

When #sephorakids dominated our social media feeds earlier this year, parents were in shock. Beauty brands were in awe. 

The argument was that Gen Alpha purchased beauty products containing harsh exfoliating acids, designed for older skin types.

Instead of joining the negative chorus, brands used the opportunity to leverage the hashtag and expand their products to a younger demographic.

Marketing to the tween demographic is paying off. The BBC’s Mia Taylor mentions Drunk Elephant in her ‘Sephora kids’ article and says how the clean beauty brand capitalized on the viral trend. Using its Instagram platform, Drunk Elephant pointed out which of its products were recommended for kids.

Other brands followed suit. Citing Marketwatch stats, the BBC says e.l.f. ‘s stock price surged 203% due to its positioning in the tween market.

Use being a small business to your advantage. By expanding your brand portfolio, you’ll serve a product that’s in high demand. Always be aware of what customers want and give it to them. It’s as simple as that.

By implementing these strategies, you’ll be well on your way to seeing consistent revenue. Don’t be afraid to take a chance on yourself. Rules are meant to be broken. 

Position yourself as a leader and not a follower. Soon, you’ll be reaping the rewards of your hard work.