As I milled around the counters last Sunday during a private shopping event, I was reminded how much fun it is to try out new products. Certainly the roughly $400+ billion beauty industryhas realized to great effect that the concept of a makeover and the lure of a new look can generate profits. If the consumer likes a product, there is a strong likelihood that he or she will buy it again when the first bottle is finished. Indeed, some cosmetic and skincare retailers offer sign-ups to ensure regular deliveries of favorite creams and gels. Make no mistake however. The purchasing experience itself is an important part of the process. Those organizations that recognize the allure of feel, smell and touch are raking in the dough. According to “The Sephora effect: How the cosmetics retailer transformed the beauty industry” by Sarah Halzack (The Washington Post, March 9, 2015), brand loyalty has given way to plunking down dollars “in a place where you can easily test virtually any product.” Buyers have constant access to information, in large part due to social media marketing. “They don't have to go to a counter to get that education.”

Although lipstick and Individual Retirement Accounts (“IRAs”) may seem like polar ends of the consumption spectrum, there are enough similarities that financial services marketing executives may want to spend some time perusing the powder and perfume aisles. To curry favor with investors who find it hard to differentiate among savings vehicles, savvy sellers are starting to recognize the importance of making the buying process “fun” and “lively.” Offering a financial “beauty makeover” with encouragement about a better future is one way to establish a meaningful dialogue between an advisor and an investor. Being transparent and showcasing multiple products is another strategy.

Things are changing from Wall Street to Main Street but there is room for improvement. In “Creative content marketing for Financial Services: 3 Examples” (Chief Content Officer Magazine, March 7, 2013), Kevin Cain points out that “…the industry seemingly operates under the misconception that its heavy regulatory burdens both preclude and exempt it from taking a creative approach to content” and should embrace “the style and delivery of the message.” He then illustrates the tact taken by three financial service firms to attract and retain business.