Do you know Billie? This female funded startup found in 2017 with the goal of fighting the “pink tax” (paying a surplus because the product is marketed to women) including razors and personal care products (for razors the pink tax boils down to 10-15% vs male razors. Yes, wtf? 🤯).
If this motivated you to start your own female funded company: here are 5 tips from Billie’s co-founder, Georgina Gooley.
- Do your homework – know your consumer in and out
- Have a different point of view – broaden your world view
- Change the conversation – break the stigma
- Celebrate real women – fight stereotypes
- Think like a consumer (not a marketer) – would you buy the product as a consumer?
If you are not motivated to start your own company – tbh, 2020 motivated me to hibernate, hoard snacks and increase my Netflix consumption +300% YoY – then apply the above to your daily job when communicating to women. Little steps.
If you’re interested in more D2C brands: This UK female-founded CBD-infused-tampon company with the cutest packaging, period panties THINX (apparently these work!), Paula’s Choice for skincare, millennial suncare and even more d2c inspo here.
If you want to know the latest on Billie’s funding round: Billie was set to be acquired by P&G this year, but the FTC is going against this right now because it’d “kill competition“. “Billie was likely to expand into brick-and-mortar stores, posing a serious threat to P&G. If P&G can snuff out Billie’s rapid competitive growth, consumers will likely face higher prices.” That seems shortsighted, but then again, who am I 🤷🏻♀️?
If you want McKinsey insights: this McKinsey report on Consumer Packaged Goods and going the D2C vs. retail way. Key takeaways:
- D2C does not mean cannibalization of retail
- Successful D2C companies adopt a VC mindset towards metrics
- Less focus on impressions/the level of brand awareness & more attention to drivers of high lifetime value and
- Low acquisition costs
If none of the above: then know that I appreciate you 💜