Iconic cosmetics company Revlon is turning 80 this year and is relaunching the brand to celebrate. As you might expect, the company is doing so to bolster its position and more precisely its revenue and profits. Currently, the company generates $1.4 billion per year, which equals just 5% of cosmetics giant L’Oréal.
Two years ago the company lured Julia Goldin away from Coca Cola to serve as CMO and help kick start the turnaround efforts. Ms. Goldin recently spoke with Jack Neff from Ad Age about these ongoing efforts.
In times of transition and change, it’s important to know your brand’s history and core values, so you don’t veer off track.
As if on cue, Ms. Goldin focuses much of the interview on company founder Charles Revson, who believed in “the idea that women needed to express themselves.” Revlon has been empowering women to do exactly that for decades with bold colors and glamour.
In fact, in the last two years, the launch of ColorStay Nails and Lip Butter have been two of the top new products launched in the cosmetic industry. This turnaround is also built on consumer insights, some of which are cutting edge and some of which date back to Charles Revson, who famously believed, “In the factory we make cosmetics. In the store we sell hope.”
And that’s where the super models and beautiful celebrities come in. As Halle Berry, who has been representing Revlon for 15 years demonstrates, beauty is much more than physical appearance. In fact, it often comes down to one word… confidence.
Goldin shared with Ad Age the results of a global consumer insights study, “Beauty and sex appeal came in at the bottom. Intelligence and charisma scored higher. But the [quality scoring] highest around the world was confidence.”
It’s what Revlon’s customers desire and confidence is ultimately what these super models embody.
Creating an Engagement Model
While Revlon is manufacturing cosmetics and selling hope, radio is also in the manufacturing business. The product being manufactured is audio content, but for the listener, the real value is enjoyment.
As your audience worries about trying to spend more time with their family, particularly their kids, while also facing ongoing stress about work and money, P1s turn to their favorite station to make life more enjoyable. Whether it’s a morning show that makes them laugh, hearing their favorite song at work or listening to an afternoon traffic report that helps them get home in time for family dinner, radio plays an indispensable role.
Typically, when billion dollar brands start discussing consumer insights and advertising, there is almost an obligatory multi-million dollar marketing campaign. However, despite Goldin’s background working with global brands, when it comes to advertising, “It’s really about the quality of the connections you make with consumers, the way you bring the brand to life.”
Targeting and engaging the listeners who matter most is at the cornerstone of our strategic approach to generate ratings and revenue for clients.
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