QVC Launches Beauty iQ Network: Why TV Still Matters for Business
Most of us are familiar with television shopping networks and shows that help brands gain visibility. Retail has long-since used the medium of television to reach vast audiences, and as this strategy evolves, it delivers great results.
QVC launches Beauty iQ
Over the years, as direct-to-consumer evolved, networks like QVC, which allow consumers to shop directly from the comfort of their own homes, were developed. On October 31st, the TV shopping channel mainstay launched Beauty iQ, a channel dedicated to selling beauty-related products to 40 million viewers on DirectTV, Dish and Roku. According to QVC, it’s a 24-hour shopping channel dedicated completely to beauty, with live programming five nights a week. QVC is taking the steps to further their reach in this category by broadcasting content on the Beauty iQ network, BeautyiQ.com, QVC.com, on the QVC mobile app, and via social channels including Facebook and Instagram.
What is Direct-to-Consumer selling and why does it work?
Direct selling is a method of marketing and retailing goods and services directly to the consumers, in their homes or in any other location away from permanent retail premises. Brands can go directly to market with their products and manage the sales process and customer relationships from beginning to end. It works for many brands because the amount of product needed is set up front, there is no option for mark-downs and customer information is immediately available to the brand for customer follow-up and outreach. Television has long-been a vehicle for this type of selling. Getting a brand’s product showcased on any of the television shopping networks could mean moving thousands of units within half an hour, allowing a brand to amass a large consumer-base in a near instant. HSN, QVC and Canadian counterpart, The Shopping Channel, present their communities items spanning from electronics, jewelry, and clothing, to furniture and more. Additionally, all television shopping networks run 24/7 and offer very flexible return policies for the items they sell.
How television shows have helped craft businesses thrive
For small business owners simply looking for investors, television shows like the internationally franchised Dragon’s Den can catapult a small business into the stratosphere by connecting them with seasoned investors. These shows encourage small business owners to pitch their brand story and showcase how their product works. Other shows, like Shark Tank, use the same premise of connecting innovative brands with angel investors who can help bring them to market with investment money, marketing strategy and product placement in exchange for a percentage of ownership in the business. Benefits for smaller businesses include having the backing of a solid, dependable business partner, one who has skin in the game, so that it is in everyone’s best interest to see the product succeed. Many people are creative and can create a product that fulfills a need in the market, but not all are business-savvy – shows like this connect new businesses to players who know the ropes on how to be successful. Other shows taking this format are The Profit and the newly released Fashion Startup (a spin-off of Project Runway), which focuses specifically on Apparel brands. Entrepreneurs can learn about valuation, identifying market, scalability, and more just from watching these TV shows, if they plan to pitch to angel investors one day.
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