Michelle Crossan-Matos, CMO of Ulta Beauty: Visionary and Operator
Apr 26, 2024
auto_awesome
Ulta Beauty CMO Michelle Crossan-Matos shares insights on being a visionary and operator in marketing. She discusses balancing the strategic vision with daily operations, her unconventional path to the C-Suite, managing loyalty programs, and the importance of experiencing retail. The conversation with Greg Stuart also touches on preparing for unexpected scenarios like COVID.
Great marketers must balance visionary thinking with day-to-day operations for future success and innovation.
The beauty industry adapted to pandemic challenges by embracing digital channels and focusing on wellness trends for growth.
Deep dives
The Importance of Balancing Long-term and Short-term Goals in Marketing Leadership
Great marketers must possess the ability to switch between focusing on long-term strategic planning and short-term operational tasks. This dual capability is crucial for future CEOs and disruptors of industries, ensuring a balance between visionary thinking and day-to-day operations. By toggling efficiently between these two mindsets, marketers can drive innovation and growth.
The Impact of the Pandemic on Beauty Industry and Consumer Behavior
The podcast highlights how the beauty industry navigated the challenges of the pandemic, showcasing resilience and growth. Despite initial uncertainties, consumer behaviors evolved with a focus on wellness and self-care. Fragrances saw a surge in popularity as people sought comfort and upliftment through scents. The industry adapted by embracing digital channels and exploring new ways to engage customers.
The Significance of Strategic Thinking and Operational Experience in Marketing Leadership
Having a background in strategy and diverse operational experiences can enrich a marketer's decision-making and leadership skills. The ability to foresee industry trends, craft innovative brand strategies, and navigate complex stakeholder relationships are key attributes for effective marketing leaders. By honing strategic thinking and operational acumen, marketers can contribute significantly to organizational growth and success.
Appreciating the Role of Brand Building in Marketing Strategy
Brand building remains a pivotal aspect of marketing strategies, driving both short-term sales impact and long-term brand equity. Despite the prominence of digital channels, traditional methods like linear television still hold effectiveness in reaching audiences and influencing consumer behavior. Marketers are reminded not to overlook the power of brand building and to embrace a diverse range of marketing channels to maximize impact.
Some marketers think of themselves as operators and some see themselves as visionaries. But only the great ones, says Ulta Beauty CMO Michelle Crossan-Matos, understand that they have to be both. Just before the POSSIBLE conference in Miami, where she spoke to MMA CEO Greg Stuart, she was in Orlando, working to inspire 3000 leaders from Ulta's massive retail operations.
"But when I get in the office tomorrow, it is about how are my sales doing? How can I pivot? How can I get even more this Friday?," she says. "So ask yourself deeply right now, how comfortable do you feel between that toggle? And if you don't enjoy that, that's okay. How can you learn to enjoy it?"
In this special live episode of Building Better CMOs, Michelle and Greg also talk about her unusual path to the C-Suite, managing a gigantic loyalty program, creating your own framework, preparing for every scenario, why every marketer should take a stint in retail, and more. Plus: How business leaders can prepare for unexpected scenarios like COVID.