Raj Shamani discusses Indian skincare and beauty brand Minimalist with co-founder Mohit Yadav. They talk about funding from Unilever, focusing on product quality over marketing, fair & lovely branding, online presence vs retail, dealing with competitors, modern distribution channels, and performance marketing in India.
Prioritize innovative product development and transparent branding for customer engagement.
Leverage performance marketing efficiently for high return on investment and customer trust.
Adapt marketing strategies to evolving distribution channels, focusing on trust-building and brand differentiation.
Deep dives
Understanding the Growth Journey
From starting with zero revenue to achieving almost 100 crores in just eight months, the podcast episode delves into the remarkable growth journey of the company. By focusing on brand marketing, career influencers, and influencer marketing budgets, the company transformed from a startup to a revenue-generating powerhouse in a short span.
Innovative Product Development
The podcast explores how the company prioritized innovative product development, such as focusing on hero products with transparent branding and efficacy. By emphasizing product quality and radical transparency, the company aimed to create a unique value proposition for customers, driving engagement and loyalty through organic content creation and strong customer relations.
Effective Marketing Strategies
Through a blend of brand, influencer, and performance marketing strategies, the company achieved significant growth. By leveraging performance marketing efficiently, the company was able to generate a fourfold return on investment, highlighting the importance of educational content and building customer trust through consistent and transparent communication.
Adapting to Distribution Challenges
Navigating the evolving landscape of modern distribution channels like Zepto and Blinkit, the company adapted its strategies to accommodate changing consumer behaviors. By focusing on trust-building and maintaining brand values in marketing initiatives, the company aimed to differentiate itself in a competitive market while addressing customer needs.
Evolving Skincare Industry Trends
Discussing the future of skincare as 'Skincare 3.0,' the episode delves into upcoming industry trends and challenges. By focusing on educating consumers, maintaining transparency, and adapting to changing market demands, the company aims to stay ahead of the curve and deliver innovative solutions in the skincare sector.
Timestamps: (00:00) - Intro (00:55) - Raj’s introduction to Minimalist (02:12) - Minimalist beginning (06:53) - Funding from Unilever and Sequoia (08:35) - Organic over paid marketing (12:35) - Product quality over marketing (16:56) - Inspired by Ordinary (20:05) - Different segments of customers (23:06) - Fair & Lovely branding strategy (26:08) - Evolution of brand building (30:55) - Online presence Vs Retail (39:08) - Retail Marketing technique (41:33) - Modern distribution channels (43:35) - Highest selling categories (46:40) - Dealing with competitors (49:06) - Performance Marketing in India (52:53) - Difference between Indian and US customers (55:29) - Thanks for watching! In today’s episode of Figuring Out, we have Minimalist’s co-founder Mohit Yadav in conversation with Raj Shamani. Minimalist is one of the fastest-growing skincare brand of India which has grown from 0 to 100 crores in just 8 months. You will hear all that it took for this brand to grow and become one of the favourite brands of consumers in this episode. In this episode, we talked about how Mohit started Minimalist, the early days of him figuring out everything in this business, and how Minimalist’s Instagram followers went from 200 to 10,000 within 2 days. He further explained the complete breakdown of the journey of reaching 0 to 100 crores in revenue within 8 months of starting the brand. We also talked about if Minimalist is inspired by The Ordinary which is popular in the U.S. and the three segments of different consumers that he came across while building Minimalist. We discussed the modern distribution channels like Zepto, Swiggy, and more and how much these channels contribute to their overall sales. He shared the top 3 skincare products that are most bought in India. He explained their social media strategy and overall strategy to have 4x consumer retention. We ended our conversation by talking about how Indian consumers are different from consumers from any other country. For more such insightful conversations, subscribe to our channel and join this journey of Figuring Out. Follow Mohit Yadav On: LinkedIn: https://in.linkedin.com/in/mohitmst To Know More, Follow Raj Shamani On ⤵︎ Instagram @RajShamani https://www.instagram.com/rajshamani/ Twitter @RajShamani https://twitter.com/rajshamani Facebook @ShamaniRaj https://www.facebook.com/shamaniraj