Shankar Prasad on how ‘good science’ has created differentiation for brand Plum

Adgully’s AG Talk brings unfiltered insights and thoughts of CEOs, MDs and CMOs, who have been leading the marketing landscape, and in fact, also laying the ground rules to keep up with the transformative times.

In this week’s interaction, Shankar Prasad, Founder & CEO, Plum Goodness, offers insights into the brand’s evolutionary journey and its distinctive position within the Indian beauty market. From elucidating Plum’s innovative D2C model to unraveling the intricacies of its unique brand marketing strategies, Prasad sheds light on the driving forces behind Plum’s resounding success.

For nearly a decade, Plum has been making waves in the Indian beauty industry, reshaping standards and redefining what it means to be truly ethical and effective. Founded in 2013 by Shankar Prasad, an illustrious IIT-ISB Alum, Plum has emerged as India’s premier 100% vegan beauty brand. Since its inception, Plum has been on a mission to deliver cruelty-free and non-toxic products, setting a benchmark for quality and integrity in skincare, haircare, personal care, and makeup. Driven by a philosophy grounded in ‘good science’, Plum blends the finest natural ingredients with cutting-edge research-backed actives, ensuring products that not only perform but also nourish. With a diverse portfolio comprising over 500 SKUs, Plum has meticulously cultivated its customer base, expanding its footprint across online and offline channels.

Pioneering the new age of beauty brands, Plum has transcended borders, captivating audiences in 15 countries worldwide. In India alone, Plum’s presence spans over 300 towns and cities, facilitated by a network of 1,300+ assisted outlets and over 13,000 unassisted outlets – a testament to its exponential growth trajectory.

Plum has made remarkable strides as a D2C brand, carving out a niche amidst a competitive landscape. Could you elaborate on Plum’s journey to success and what sets it apart from its established competitors?

Plum’s journey to success as a direct-to-consumer (D2C) brand has been marked by innovation, customer-centricity, and a commitment to quality. Amidst a competitive landscape, Plum has distinguished itself by focusing on the ‘good science’, catering to the needs of today’s consumers who prioritize result-oriented quality ingredients. The brand’s emphasis on efficacy, coupled with its transparent communication and affordability, has resonated with consumers, allowing Plum to carve out a niche for itself in the market. Plum is known among the Plumster (our beloved customers) community for sharing delight and joy whenever they open a Plum package.

What were Plum’s initial marketing tactics upon entering the industry, and how have they evolved? Considering shifting consumer trends, how would you adjust Plum's marketing strategy to maintain relevance and engagement?

From the word go, we believed in the power of the brand, and its connect to customers at a product level as well as at an emotional level. Our communication has always remained authentic, relatable and transparent, while trying to always be interesting and delightful. Of course, like every new brand, it was performance marketing that we started with, but then very soon, started using the power of social media, ecommerce marketplaces, retail touchpoints and influencer marketing to tell our brand story.

Today, Plum employs a multi-faceted marketing approach, where it leverages digital platforms, influencer collaborations, and strategic partnerships to build brand awareness and attract customers. It is closely linked to confirming to its core value of being good by being involved in a projects like Empties4Good (India’s 1^st online plastics recycling programme), Project Blackboard (to educate underprivileged girl children) and so on that endear the brand to Plumsters. In short, Plum’s marketing tactics have always been relevant and engaging. Moving forward, the brand will continue to evolve its marketing strategy to embrace emerging trends while staying true to its core values.

Plum has impressively expanded its product range over time. Could you highlight the breadth of offerings within Plum’s portfolio? Additionally, what can consumers anticipate in terms of future product developments from Plum?

Plum’s product portfolio boasts a diverse range of skincare, haircare, bodycare and makeup offerings, catering to various skin types and concerns. From cleansers, toners and moisturizers to serums and masks, Plum provides comprehensive solutions for everyday skincare needs. Additionally, the brand has expanded into haircare with products formulated to nourish and strengthen Indian hair. We also offer high quality makeup products that give an incomparable make-up experience along with keeping the customers’ skin safe and healthy over time.

Looking ahead, consumers can anticipate further innovation from Plum, including the introduction of new formulations and product categories to address evolving beauty concerns and trends.

How does Plum approach market research to effectively understand the preferences of new consumers? From your perspective, which digital marketing channels hold the most promise for Plum, and why?

Plum employs a data-driven approach to market research, utilizing insights from consumer behaviour, industry trends, and competitor analysis to inform product development and marketing strategies. The brand leverages a combination of online surveys, focus groups, and social media listening tools to gain a deep understanding of consumer preferences and sentiment. In terms of digital marketing channels, Plum finds promise in platforms such as Instagram, WhatsApp and Facebook, which offer extensive reach and engagement opportunities, particularly among its target demographic of millennial and Gen Z consumers.

As a D2C brand, what strategies does Plum employ to maximize its social media presence for engaging its target audience and driving conversions?

To maximize its social media presence and engage its target audience, Plum utilizes a mix of content creation, community building, and influencer partnerships. The brand produces visually appealing and informative content that resonates with its followers, fostering meaningful interactions and building brand affinity. Additionally, Plum leverages user-generated content and encourages customer reviews and testimonials to showcase real-life experiences with its products, thereby driving conversions and enhancing trust among potential customers.

What has been Plum’s year-over-year revenue performance, and what strategies are in place to enhance profitability moving forward?

Plum has demonstrated consistent growth year-on-year (2x over the last 2 years), driven by its expanding customer base and product offerings. Moving forward, the brand remains focused on enhancing profitability through strategic initiatives such as product quality and innovation, brand building, operational efficiency, and market expansion. By continuing to deliver value to its customers while optimizing its business operations, Plum aims to sustain its growth trajectory and drive long-term profitability.

Could you share insights into a past marketing campaign that yielded significant success for Plum? Furthermore, are there any forthcoming campaigns that stakeholders should anticipate?

The campaign for our iconic niacinamide range has done extremely well as it resonates with the audience, and also tells the truth about the product. Influencers also played a big role in spreading the word and helped generate buzz. There are several other exciting campaigns scheduled for this year as well, in the skin & hair space.

With the rise of numerous organic skincare brands, how does Plum differentiate itself to maintain a unique position in the market?

Plum differentiates itself through its unique combination of in-house formulated, science-driven innovations loved by customers, authenticity and approachability as a brand, affordability, and adherence to ethical values. Plum prioritizes transparency and sustainability, using only scientifically driven, clean and vegan ingredients while avoiding harmful chemicals and animal cruelty, and without making unrealistic claims. This commitment to integrity and authenticity resonates with consumers seeking trustworthy and ethical beauty solutions that give results without harming the skin or the environment, allowing Plum to maintain a distinct position in the market.

Given the growing prominence of the wellness industry in India, particularly post-Covid, do you foresee Plum expanding into this sector? What are your thoughts on potential diversification into wellness products or services?

Wellness is an interesting adjacent space to the beauty industry. However, our consumer understanding in this space is extremely limited, with regard to the need states, aspirations, preferences and tendency for experimentation. On the supply side, ingestible products need a completely different approach to research and development, and this is also something we do not have or are looking to build capabilities in. As Plum, our focus will continue to be on safe, effective and delightful skincare, haircare, body care and makeup.