This week, the MSc in Marketing students had the chance to spend two days with Colorista, a hair-coloring brand part of the l’Oréal Paris group. We helped develop a new digital strategy to increase the brand’s exposure and achieve a stronger response from its millennial target audience.
This experience gave us the opportunity to apply our theoretical knowledge in a hands-on working environment. I enjoyed being able to express my creativity by coming up with new ideas for Marcus Franca, Marketing Director of Colorista, and his team. We were all kept busy, but it was truly exciting!
We believe the approach we used is both effective and transferable, as it can be applied to any marketing project whether that be developing a new service, re-branding a product, or elaborating a new business model:
- Create a customer profile: Identify who your key customers are. What are their needs, values and interests? What do they find attractive? As consumers, how do they behave?
- Get insights from your potential customers: Once you have defined your customer profile, try to find people who match it. Find out more about their consumer habits and desires by asking them directly. Their valuable insights are key to tailoring your strategy.
- Come up with draft ideas and test them: Conjecture your first ideas and discuss them with potential customers. Whether their feedback is positive or negative, it is important that you understand the reasons for their response.
- Elaborate your strategy: Once you know which idea would work, you need to implement it in an efficient way.
- Refine your strategy: Keep in touch with your target customers so you can keep adapting your strategy to their ever-evolving desires.
- Voilà! Innovation strategy ready for use!
I would like to thank Professor Gachoucha Kretz for giving us the opportunity to work for l’Oréal Paris and contribute to its marketing strategies.