Falguni Nayar, Nykaa’s Founder & CEO in conversation with Social Samosa, traces the Nykaa Marketing Strategy and the mantra for leading the digital marketing industry.
Nykaa joined hands with Katrina Kaif to launch India’s first celebrity beauty brand with a campaign titled #ItsKayToBeYou. Announcing the new collection, the brand carried a hard-hitting message urging consumers to be authentic. It all comes in as a part of the bigger Nykaa Marketing Strategy.
Nayar informed that it was Katrina who suggested that Zoya Akhtar pens down the lyrics and she particularly liked this line which says- ‘If you don’t feel like a princess, it’s okay because you are the queen’.
In a quick chat with Social Samosa, Falguni Nayar takes us on the journey of Nykaa Marketing Strategy, what it takes to be sustainable, and the norms of digital marketing.
What is the nature of the partnership with Karina Kaif for Kay Beauty?
We saw in Katrina the passion for beauty in a way that she truly brings herself to the brand. Also, for her thinking as an entrepreneur and her perspective at things. Katrina is showing Reena’s (Reena Chhabra, CEO, Nykaa Brands) passion for products, she is also showing my understanding of business and is trying to learn from it all. Her determination to do all things right is what makes her a good partner.
What was the brief shared for the campaign?
We are always looking for people who can communicate a message. Just fancy sets with fancy dance and a few lipsticks range, it doesn’t make sense. There has to be a strong message. Even our Janhavi film did not have a strong message but still communicated the thought of a carefree girl having a gala time with her friends. We always look forward to coming up with communication led films.
From the early days of Nykaa, we were very clear that we don’t want to be a beauty brand that women wear to please men or even other women. We wanted to be a brand that women wear for themselves. We will not make a woman look like a playboy model or a Victoria secret. We wont do videos like that.
Being an investment banker, what are the key learnings that you took forward in building Nykaa the brand it is today?
In terms of investment banking, what I understood is that for a brand or a company to be long term sustainable – there is no point being the rising star and not being able to sustain. We have been very careful about building a sustainable business. Knowing the economics of how the industry is working and getting it right, keeping that as the benchmark and letting it function towards that benchmark. I understood that well and I think that is one of the keys to Nykaa’s success.
Nykaa has been one of the pioneers in community building and digital marketing space. How would you define the Nykaa Marketing Strategy here?
We use Google, Facebook, Instagram quite extensively and then we also leverage our Nykaa app which is very successful raking in huge amounts of organic traffic. We also use CRM and SEO very significantly along with outdoor and TV periodically. We believe in total 360 degree marketing and employ each of these.
The marketing message has to have certain communication or emotions, showing insight into who we are rather than just empty communication going out. Also, since we are very active on YouTube, our communication is more geared towards video marketing. I believe that we have done a lot to build a successful digital marketing business.
Community building involving bloggers has been a prominent exercise. Now we are also focused on engaging micro-influencers along with the celebrities to tap on their audience. All this can’t happen unless you have a well put on machinery under it. For instance, we want bloggers and micro-influencers to get involved, but if we don’t send them the products how will they know what is getting launched. We almost have a 1500-member marketing team which looks after it all.
Initially our marketing plan consisted of 100% percent digital, but in more recent times about 10% is non-digital. We are someone who started on digital and then moved onto other platforms against others.
How influential has been influencer marketing for Nykaa?
The content has been very significant to us since the brand inception when it comes to marketing. Nykaa Network which is our community is very active in creating content. What we now measure is there could have been as many as 200-300 marketing influencers for us to finally get 1 or 2 orders which would come over in sometimes 3 days or even take a week.
There is a last-click conversion and then there is an influence. So we allow a lot of knowledge sharing influence through various mediums and then hope that it gets converts.
How has Nykaa’s advertising journey been and what have been the key campaigns?
The very first campaign that we did was putting out the message that women should be recognised – from breaking the traditional stereotypes of women being only an air hostess earlier and today being a pilot. The film was directed by Konkana Sen Sharma.
Later when we introduced liquid lipsticks, although we were a bit delayed in doing that, we wanted to make our campaign distinct. So, we came up with names for lipsticks which were dedicated to women from different cities- Bombae, Kaveri, Chennai, madras Café, IT girls, et al.
Post this campaign, every year, whether it was Karwa Chauth or Raksha Bandhan we have been recognising the humane emotion that Indian girls feel. For instance, the Father’s Day film #DateWithDad where the girl refuses to go on a date with another guy. Gender neutrality and progressive nature has been our campaign core since the start.
With an array of causevertising campaigns, how significant do you think is the brand connect to the campaign thought?
It really comes from what you genuinely care for. So, we care for women and there could not be a better example than myself, Katrina, Reena, and all of us – we are not trying to be different- we are who we are and have always let our dreams lead our lives.
Authenticity is important and if I push a cause in my advertisement, I actually believe in it.
What are your plans for the newly launched Nykaa Men’s vertical and Nykaa Fashion?
Nykaa Fashion is a very big commitment and a huge business for us as a brand. We will also have a few private label brands. All and all it will be a multi-brand retailer focussed on style and premium pricing. By premium pricing, it’s not that we will charge more for the same product but we will bring great quality products to the consumers. They don’t want the cheapest dress or products but better quality and fabric.
Nykaa Men is also a big journey where we plan to induct more men as our customers. We always offered Men’s products on our website but because our site is so make-up centric and a few might get lost into make-up et al. Nykaa men’s website will allow them to discover products more easily in an environment where they are not cluttered with women-centric conversations.