Embracing Disruption: Insights from Kory Marchisotto, CMO of e.l.f. Beauty
In a recent episode of The Speed of Culture podcast, hosted by Suzy's CEO Matt Britton, Kory Marchisotto, the Chief Marketing Officer of e.l.f. Beauty, shared her insights on the evolving beauty industry and e.l.f.'s strategic initiatives. With a career spanning over 25 years in the beauty sector, Kory offers a deep dive into how e.l.f. Beauty thrives on disruption and maintains its consumer-centric ethos. This blog post captures key takeaways from their engaging conversation, highlighting e.l.f.'s unique approach to marketing and the future of beauty.
The Ethos of Disruption
At the core of e.l.f. Beauty's strategy is a commitment to disruption. Kory emphasizes that this disruptive ethos is embedded in e.l.f.'s DNA and drives every decision the company makes.
"The core component when I think about e.l.f. ethos is we're born to disrupt. It's in our DNA," Kory explains. "Part of the funnel through which we have to pass everything we do is, well, is this disruptive? Tell me how this is different. Tell me how nobody else could do this but us."
Making a Splash at the Super Bowl
e.l.f. Beauty's decision to invest in a Super Bowl commercial was a calculated move based on years of market experience and growth. The company's first Super Bowl ad aired 18 years into its existence, reflecting a strategic leap to reach a broader audience.
"We asked ourselves a lot of questions and found that women were being underserved in Super Bowl ads," Kory notes. "So we decided to bust down that wall and came in big with Jennifer Coolidge last year."
This year, e.l.f. continued its momentum with a spot that leveraged cultural trends and consumer insights, such as the popularity of courtroom dramas and the value proposition of affordable, high-quality beauty products.
Balancing Value and Quality
As a value brand, e.l.f. Beauty faces the challenge of maintaining high quality while offering accessible price points. Kory stresses the importance of the product's performance in establishing consumer trust and loyalty.
"Our product has to speak for e.l.f. We deliver the best of beauty at accessible prices without compromising on quality," Kory states. "It's value with values."
The Power of First-Party Data
e.l.f. Beauty's direct-to-consumer strategy and digital-first approach provide a distinct advantage in understanding and engaging with consumers. The company's Beauty Squad Loyalty Program, with over four and a half million members, is a rich source of first-party data that informs marketing effectiveness.
"We are the number one mass e-commerce site, and most of our core competitors are not commerce-enabled," Kory explains. "This gives us a competitive advantage because we have a collection of first-party data that can inform our marketing strategies."
Responding to Consumer Trends
The COVID-19 pandemic reshaped consumer behavior, and e.l.f. Beauty responded by staying in tune with its community's needs and desires. The brand's ability to adapt and innovate during challenging times played a crucial role in its growth.
"We grew at 14 times the market rate in the last five years because we're in lockstep with our community," Kory notes. "We meet their unique needs, wants, and desires with empathy and care."
The Importance of Brand Values
For e.l.f. Beauty, values are fundamental to its brand identity. The company's commitment to cruelty-free practices, fair trade certification, and social causes resonates deeply with its audience.
"e.l.f. is a brand of the people, by the people, for the people, created with the people," Kory states. "Our values are very strong, and when we stand up for important causes, the love for our brand grows."
Embracing New Platforms and Formats
e.l.f. Beauty's success on platforms like TikTok, Twitch, and Roblox demonstrates the importance of creating content that is engaging and relevant to different audiences. The brand's ability to produce entertaining short-form content has been a key driver of its digital presence.
"Respecting each other's time is crucial. If I'm going to ask you to watch a piece of content, it better be good and resonate with you," Kory emphasizes. "We create content that is worthy of people's time and tailored to each platform."
Kory's Leadership Philosophy
Kory's leadership style focuses on identifying and nurturing the unique strengths of her team members. She believes in hiring for characteristics and fostering an environment where individuals can thrive.
"My leadership style is about identifying superpowers and unleashing them in ways that create impact," Kory explains. "It's important to create a win-win situation for both the individual and the company."
Career Advice for the Next Generation
Reflecting on her career, Kory offers valuable advice for young professionals. She emphasizes the importance of embracing a non-linear career path, learning from failures, and staying true to oneself.
"The path is not linear. It's winding, and you should embrace that," Kory advises. "Fail forward and use those experiences to inform your success. Stay true to who you are and don't bend because others tell you to."
Conclusion
Kory Marchisotto's insights on The Speed of Culture podcast provide a comprehensive look into e.l.f. Beauty's disruptive approach and consumer-centric strategies. From leveraging first-party data to embracing new digital platforms, e.l.f. Beauty continues to set new standards in the beauty industry. Kory's forward-thinking leadership and deep understanding of consumer trends ensure that e.l.f. remains a beloved and innovative brand.
As the beauty industry evolves, e.l.f. Beauty's commitment to disruption, value, and authenticity will continue to drive its success. By staying in lockstep with its community and embracing the speed of culture, e.l.f. Beauty is well-positioned to thrive in the ever-changing landscape of beauty.
