Find Some Purpose
What better way to earn some new cash and some form of independence than to own your own business?
Everyone these days is an entrepreneur in some way, and the numbers continue to grow. Owning your own business can be a fulfilling, challenging, and learning experience. To keep your business alive, you must make sure you have enough passion for whatever you represent.
If you don’t, the company could miserably fail before you can get started.
The New Girl in Town
You are currently reading this blog.
So, it is clear you are interested or at least curious to see what things you should do as a hair extension provider. So you finally decided to hop on this money train in the hair industry? When I tell you all that the hair business is booming, that is an understatement.
As a new hair extensions provider, there is a whole new set of rules you need to be aware of so you can get the most out of your experience. Selling hair extensions is a growing and fulfilling experience that can lead to significant wealth in the long run. That is if you execute everything the right way.
That may sound scary, but it’s a fantastic feeling to give women a reason to feel beautiful.
Why Sell Hair Extensions?
Most women may be curious as to why they see so many other women starting a hair extensions business.
In 2017, every other Instagram page was a business page that offered so-called “quality hair extensions.” Many women do it to find a quick buck. What they do not realize is the time it takes to make a business take off, which is why many fail at attempting to keep their business afloat. They do not have the resources it takes to maintain the company. That is until Private Label Extensions came along!
We do not only provide quality wholesale products, but we also offer education and assistance throughout the entire process. How many companies can do that for you?
Beauty is in the Eye of the Beholder
In a business where the majority of the consumers are black women, you can already see where the stigma can come in.
Naysayers may claim that most black women do not have enough hair of their own. For a lot of women, comments like that can take a toll on self-esteem. Pursue a business that makes black women feel beautiful and ready to take on the world.
Within this business, you can encourage women to find any way they can to be beautiful however they may see fit. Offer hair extensions in different lengths, types, colors, and curl patterns. That way you will reach a more significant demographic of women and more women will feel more comfortable purchasing from your website, because they will feel represented.
There is money to be made
I already mentioned that everyone is trying to get a piece of the wealth selling hair extensions makes, but most women do not understand how actually to make money last.
The hair business is a thriving business! It is a $500 billion industry, and the industry continues to grow every day. Even if you don’t want to put your entire time into making sure your business takes off, who says you can’t sell a few bundles a month from a wholesale vendor? I happen to know one! Check out what Private Label Extensions has to offer! Think about it. The hair business will not stop growing.
Women are always going to desire to feel beautiful. This means women are also still going to pay for it and vendors will always have a client. You have to seem trustworthy!
Breaking into the Business
Every other day, I get follows from random hair vendors from around the world on Instagram.
The way I usually decipher which pages are legitimate and which ones aren’t I scope out the page. I pay attention to how the page is set up, the way the pictures look, how we purchase their products, and how easily accessible their customer service is.
All of these are important factors when determining how legit a company is. If a company seems too reasonable to be true, then it probably is. If the pictures look generic and the ratio of followers and to who they follow doesn’t seem right. It is perhaps best not to purchase from them. I determine which companies to trust depending on recent customer reviews.
That is the best way to go since the realist people are the one who has nothing to lose at all, the customers.
When it comes to selling hair, the beginning stages can be quite harsh. You have to earn your consumers trust and make sure that the quality of your products are up to par with what you claim to represent.
Many women who have not dedicated enough end up giving up the business altogether. It takes a while to build a large customer following. Think about the way you want to advertise the hair. Think about who your target audience is. Make sure all your efforts when advertising reaches the audience you desire. Consider who you see wearing your hair and tried to get similar people from your vision to wear it.
There are many ways to do this job, but the benefits are long-lasting.
Why Offer Perks?
We all love incentives, even if we do not want to admit it.
Offering perks are kind of like you are giving the consumers’ reasons as to why they should purchase from your company. Try to remember that you are starting a new business. You may have some friends and family who will naturally support you, but unless you have a large following, you may not get as far as you could.
To build that following, you can offer specific perks when someone chooses to buy some of your products. That way, you will develop a strong return consumer base, and it will continue to build over time through other tactics. Did you think the only thing you had to do in this business offered some incentives? There is much more that needs to be done, in the long run.
In fact, check out some of the articles we have on marketing your hair extensions!
What should I offer?
Before we get into what things you could offer to your consumers, let’s get into the broad spectrum first. In other words, here are a few things to remember when picking which perks you want to offer.
First of all, consider your budget. Don’t provide things that you know you can’t afford. That can mean specific discounts or free products. In the long run. Your goal is to gain a customer following and their trust, not lost all of your money and products in the process.
Also, remember who your target audience is and market based on that. If you offer perks that the majority of your clientele won’t bite, then you are wasting your time. It also shows that you do not know your customer base all too well and that you have some studying to do!
Remember that you are a new business.
People do not see how awesome you or your products are yet, so make your perks appealing and reasonable. Maybe, start with a 10% discount instead of 5%. The percentage is still meager, and you are more than likely going to attract more people that way. Study the market.
Find out what people are looking for in a hair vendor. Maybe, ask your followers and see what things you can improve on based on other peoples’ experiences with different hair vendors.
As mentioned before, when you own a small business, you don’t always have the budget to spend on the non-essentials. You don’t want to lose money before you even start making any! Most companies depend on their repeat customers, so it’s essential to gain a loyal following first.
It’s kind of like, free promotion for your business because your products will start speaking for themselves.
Did you know that it costs five to ten times more to acquire a new customer than it does to sell to an existing one? Existing customers also spend on average 67% more than new ones, since they know they can trust the business they are buying from most of the time!
Customers like coupons, discounts, and the word, “free.” I mean who doesn’t? To get customers coming back again and again, you have to make them want to. You can still offer some fantastic incentives, like the more significant business without breaking the bank. You have to get creative!
For a Startup Business, Here are some perks to offer your customers:
- Members Need to Know!
Have a new product you’re about to bring to your company? Make sure your customers know about it first? Send email alerts, text messages, and maybe even direct message them coupons for first dibs!
This perk isn’t a new tactic. Many more prominent brands use this strategy all the time, such as GameStop telling loyalty program members the release dates of new games. This perk is probably less cost-effective than other tactics. All you have to do is inform your customer base about what you have going on, and they will love it! It is all about communication.
Build up the excitement over time! Maybe some months in advance, when you have a great new product you are about to drop, remind them every chance you get! That gets them prepped and excited for what’s to come!
Are you going to start selling colored bundles or edge control? Send out a few texts every few days to let them know they have first dibs on all your products. On the day you release your product, offer them a 10-20% discount as an extra incentive. Maybe, if you can afford it, give them something small for free like a silk bonnet.
Whatever the case may be, tell your customers about it first! Being the last to know about things is one of the quickest ways to lose your following.
Offer Member Discounts!
Why do most people become members of individual companies? They like the products, and they expect to save some money in the process!
Encourage our customers to spend more money so that they can have even more substantial savings in the long run. Offering discounts give customers a chance to save money, try your products, and essentially become happier.
Don’t offer what you can’t afford. If the costs become too much, maybe try offering less or smaller discounts. Perhaps even make them less frequent.
Specific discounts can include BOGO (buy one, get one free) where you can offer a small gift with a particular purchase. Maybe, start a contest with your customers.
Where if they purchase a specific item or a certain amount of things, you will enter them into a raffle where the prize can be even more significant than expected. Stay within your budget. Offer discounts to specific groups. Student discounts are a big one because a lot of people are going back to school or just starting school.
They already have too much to pay for, so make it easier for them and offer a discount.
I do not know one person out there who claims not to like incentives.
If you can convince a person to continue purchasing your products, then you have completed step one in owning a thriving business. Perks are a great way to gain the customers you desire and keep them over time.
With the customers you acquire from the perks you provide, your following will continue to grow because more and more people will be able to see that you own a trusted business! Keep this in mind when times get frustrating because you won't make millions right away. Remember why you do what you do and keep your head up throughout the entire process.
So, what do you think about the perks mentioned? Have you thought about any perks of your own that you would offer your customers? Let me know in the comments!