Shaping the Future of Beauty: Ulta Beauty CMO Michelle Crossan-Matos on Innovation and Guest-Centric Strategies

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[00:00:46] There may be some brands listening that are wanting to get into Ulta Beauty or they're smaller in nature and they've just entered Ulta Beauty. And they might be thinking, you know what, I don't have huge marketing dollars to go and drive a wagon.

[00:01:06] How can I build a brand? And that's where I think Ulta Beauty, we're very proud that we're the ultimate brand builders.

[00:01:14] To thrive in a rapidly evolving landscape, brands must move at an ever-increasing pace.

[00:01:19] I'm Matt Britton, founder and CEO of Suzy. Join me and key industry leaders as we dive deep into the shifting consumer trends within their industry, why it matters now and how you can keep up.

[00:01:29] Welcome to the Speed of Culture.

[00:01:36] On today's episode of the Speed of Culture podcast, we are thrilled to welcome back Michelle Krossan-Matos, the Chief Marketing Officer of Ulta Beauty, who was recently named to the Forbes Entrepreneurial 50 Awards and more recently a recipient of Advertising Week's 2024 Future is Female Award.

[00:01:51] Michelle is a rare returning guest on the podcast and we're thrilled once again to welcome her back. Michelle, so great to see you again.

[00:01:57] It is so great to see you, Matt. How have you been since we last chatted?

[00:02:01] Oh, we've been busy. You know, the podcast continues to crank. It's interesting, the podcast, sometimes they just die after 25 or 50 episodes.

[00:02:08] But as we were just talking about before this podcast recording started, we're fortunate enough that such a great team.

[00:02:14] And I think you have to have a lot of perseverance in running a podcast because there's so many reasons to stop.

[00:02:19] It is hard to chase guests, but we've been pretty fortunate here.

[00:02:21] Oh no, people who want to go on your podcast, you don't need to do any chase.

[00:02:25] And I love everything that you're doing. And thank you very much because LFA, the discussion and all the key areas that us marketeers and all business leaders want to hear about. So thank you.

[00:02:36] Absolutely. And I have fond memories of our last chat when you were at Samsung.

[00:02:41] And now, of course, you're in a completely different role, Ulta Beauty, where you've been for the last couple of years.

[00:02:46] What were some of the key lessons that you brought from the world of tech that sort of influenced your leadership approach and frankly, overall strategy at Ulta since you joined?

[00:02:54] That is such a great question. Oh my goodness. By the way, Matt, not everyone knows who Ulta Beauty is. Would you mind if I just tell them?

[00:03:01] That would be fantastic. And you know what? It's interesting you say that because to me, it's such a popular and successful brand in the beauty space.

[00:03:07] But you're right. It's not like it's a Coca-Cola. I mean, you guys are still growing. So please do.

[00:03:11] Yeah. And so for those who don't know, we are the nation's largest beauty specialty retailer out there.

[00:03:18] We have 1,400 stores and it's growing. We're in every state in the country. And essentially, we sell all things beauty in one place and including our salon services.

[00:03:31] So you literally, like me this morning, could go to a Harrod Square store in New York City, go and buy a MAC lipstick, which by the way, I just got a lip liner lipstick, and get your hair done.

[00:03:43] It's one of those rare beauty spaces where you can get the entire experience.

[00:03:49] And so I joined Ulta Beauty just less than two years ago. And I love your question about what is transferable? What did I take? Remember, my past role in my past life is that I oversaw strategy transformation, innovation, as well as CMO.

[00:04:07] So when I come to this role, I don't just come as a marketer. I come as a marketer that is critical and driving growth in our business. And I look at the overall landscape of the consumer. I care about the consumer deeply because I'm a marketer at heart. That's what I do.

[00:04:25] But I also understand what is going on with micro, macro trends. I'm also bringing that ability to really predict what you think the future holds. What will the guest want? Not just this month. What will she or he want next year and the next three years?

[00:04:41] And really try and solve for those dreams and pain points so that we can continue delighting our guests every day. So I know people might think, well, very different industry. But when the heart and soul is your guest, I think most skills are transferable, just like what I mentioned.

[00:05:00] Yeah, totally makes sense. And you started off by talking about Ulta and the retail experience that you had, where you're able to visit and leave feeling like a new person. And a lot of people have predicted for so long the end of retail, especially during COVID. And I think a brand like Ulta certainly proven otherwise. How do you see retail in terms of its importance with the consumer and how that's going to evolve over time, the time where consumers are buying more and more over their phones and online in general?

[00:05:28] Well, I can tell you now that in the beauty care space, retail, bricks and mortar is king. And we would affectionately say she is queen. Then she is queen. And well, that's because if you have to think about what is unique to Ulta Beauty versus our competitor sets and versus other industries. And that is the discovery part of the beauty care journey.

[00:05:53] And so the fact is, we know that guests love to go with, like me. I have so many lipsticks, man. It's scary how many lipsticks I have. However, I spent 20 minutes today thinking about a different shade of red. And should it have a more orange tone or more blue tone? What lip liner should I go for? Oh, let me try the new fragrances from Noise. Let me go and check out the unmute scent.

[00:06:18] Because beauty enthusiasts. And beauty enthusiasts, we define as people who have a shared passion for beauty, starting from body care, skin care, all the way up to cosmetics and hair.

[00:06:28] And those individuals, they love the discovery of new products and innovation. So the bricks and mortar experience is so critical in delivering that. Now, I also oversee our e-commerce business, which is a huge part of our business. It's 20% of our overall retail sales and it's growing. And it's had amazing growth over the last years.

[00:06:53] And so we continue to see that having a great experience for our guests. And what it all comes down to is that guests are omnichannel experience seekers. They want to search, want to discover in social. They want to go in store. They want to meet one of our 50,000 associates. We have over 50,000 associates working in the stores.

[00:07:14] And they want to go in store. And they want to go in store. And they want to have a human connection. And that human connection, you don't get as much online. No, we bring different connection points online.

[00:07:23] But you can't deny that when you walk in a store and someone tells you, you know what? You look fabulous in that red color. How does that make you feel? It brings you joy.

[00:07:33] Yeah. And of course, the beauty, no pun intended, in a great go-to-market strategy is what they call omnichannel, where you have the precision and utility of a digital strategy and e-commerce strategy combined with the ability to bring your brand to life through 50,000 associates and the experience that you're able to give consumers.

[00:07:53] So how do you look at kind of combining the two together to create a cohesive experience that really drives the brand forward for Ulta?

[00:08:00] For us, I mean, we are obsessed by the discovery part that I just talked about. I would also say that we're equally obsessed about our app. So if you go on our app and if you are one of the 44 million loyalty members that we have, which is one of the leading programs in loyalty in the country and arguably in the world, it is a great place to feel engaged about your status, what unique member offers that you get.

[00:08:28] So we love that. We love personalization. Personalization isn't just a digital experience, it's an overall omnichannel experience. So the emails that you get to when you go in store and learn about your statuses and your points to when you want to go and replenish online.

[00:08:45] So there are a number of areas that we are looking at. But I will say, I think it comes down to our sales are predominantly driven by our loyalty members.

[00:08:56] 96, depending on the month, 95, 96% of our sales are attributed to our loyalty members.

[00:09:02] So everything in our experience is about building loyalty. That is acquiring, engaging and retaining. And that requires an omnichannel experience. So when you go in store, you will see cues for members and member love so that you're like, oh, I get certain points if I buy these products this week.

[00:09:23] And it's a big thing for us being able to celebrate. For instance, a Mother's Day, you can get five extra points. People love that. And they love being able to have early access to our temple sales events.

[00:09:35] So these are just a few examples of how we show up across the omnichannel experience to really drive that loyalty experience.

[00:09:44] Yeah. And of course, one of the benefits of loyalty is your ability to gather first party data on your customers. I've been reading a lot of interviews from you in preparation for this podcast.

[00:09:55] And you seem to be well versed on AI, which I believe I am as well, in terms of its power and potential in marketing. One area you spoke of is the realm of personalization and the ability to personalize the experience for consumers, which we both know is buoyed by your ability to collect that first party data.

[00:10:10] So how does a loyalty program for Ulta evolve and improve in a world of AI? And how do you see that coming together?

[00:10:18] Yeah. And listen, this gives me a moment to talk about a retail media network as well, because when you combine loyalty retail media network and AI, so we're very fortunate, or I'd say we had the foresight to really double down on AI many, many years ago and to start our personalization journey so that we could drive our loyalty program.

[00:10:38] And we started as early as back as 2018. And that goes from basic things to curated emails, to your landing page, to recommendations, so that basically you feel like you have a one-to-one connection with the brand and that we're serving up to you brands and products that are relevant for you in that moment in time.

[00:11:00] So we're continuing that journey on AI. And we announced just over a week and a half ago, our partnership with Adobe to help accelerate that because we have a North Star.

[00:11:11] And that North Star is automated real-time personalization across the entire consumer journey. So that is the future, so that you have agile storefronts that essentially, no matter whatever touchpoint you have, that I really am in real-time based on the signals I'm getting, but able to serve up Ruby Woo, for instance, from Mac, because I know that you're looking at Halloween outfits.

[00:11:34] That would be a great fit for that color. I talk about Halloween because it's a great example of a cultural moment that's happening that you might be searching for outfits, et cetera.

[00:11:45] And we're able to curate, hey, we can complement that look by certain products.

[00:11:49] So that really is the vision. We're already starting working with Adobe on that.

[00:11:54] And I love the fact that we're working with Adobe because they are world-class when it comes to this tech and innovation in the space of AI.

[00:12:01] This really helps us with our retail media network. And I want to talk a little bit about that because there may be some brands listening that are wanting to get into Ulta Beauty or they're smaller in nature and they've just entered Ulta Beauty.

[00:12:13] And they might be thinking, you know what? I don't have huge marketing dollars to go and drive awareness.

[00:12:19] How can I build a brand? And that's where I think Ulta Beauty, we're very proud that we're the ultimate brand builders.

[00:12:26] And our retail media network, UB Media, is a fantastic tool to build your brand because we have these accessible ways that you can build your digital campaigns and target.

[00:12:39] UB also rewards folk leveraging the data that we have of 44 million members because we say, okay, this audience has a propensity for your brand based on the signals that we know, based on their purchase history.

[00:12:54] Can you imagine how efficient that is for our brands, large and small, because they're able to really, really target?

[00:13:02] Yeah. And we create campaigns, we co-create campaigns, and we are able to use real-time data to really pivot and target guests.

[00:13:10] And it really is a win-win because guests now are being served up data that's some served up propositions that excite them.

[00:13:17] And then our brands are not throwing away dollars on a black box.

[00:13:20] Instead, they're working with a partner like us.

[00:13:23] They know the beauty guests better than anyone else because there's 44 million low-to-base.

[00:13:28] And we are obsessed by data.

[00:13:30] We're a retailer.

[00:13:31] We live and die by our hourly sales.

[00:13:34] We see our data in real-time, and we're able to pivot.

[00:13:37] So it's exciting times looking at our UB Media platform and the power of AI.

[00:13:43] Yeah, I mean, it's fascinating that a company like yours, and it's not surprising, would really lean into retail media.

[00:13:49] First, we saw with the big box retailers, the Walmarts and Targets of the world, because they had to compete with the likes of Amazon, who obviously rolled out tremendous retail media network.

[00:13:58] But now you have more specialty retailers like Ulta doing it in a way that I would argue is even more powerful.

[00:14:03] Because when you're a big box retailer, obviously everybody shops at a place like Walmart and Target.

[00:14:08] But you have a very specific customer that associates with your brand and craves your brand.

[00:14:14] And from that, you're kind of creating a more narrow base to begin with.

[00:14:19] They have a splice and dice that data and offer that to brands in the beauty category.

[00:14:22] I would imagine it's just a home run for them in terms of having that full funnel approach to driving volume for their brands.

[00:14:29] Yeah, and it's so true.

[00:14:31] And listen, I think the reason why our loyalty program and our retail media network program all works together is because we are able to give an insight into our brands that can help them understand.

[00:14:42] When your brand is in an Ulta Beauty world, in our omni-channel universe, guests, when they enter our doors or go on our app, they're seeking a higher order benefit.

[00:14:53] It's not just about red lipstick.

[00:14:54] It's about how it makes you feel.

[00:14:57] So Matt, not all retailers are equal when it's about the emotion that it gives you.

[00:15:02] We know that.

[00:15:03] We know that when you buy tech and we know that when you buy cosmetics.

[00:15:07] For Ulta Beauty, we know that beauty is a force for good for all.

[00:15:12] And it's not about what you put on.

[00:15:13] It's about the beauty that you put into the world.

[00:15:16] And so when I work with brands, I'm like, OK, I understand your brand equity.

[00:15:20] I know that you're trying to build brand awareness.

[00:15:22] I know that we can help you retail media network.

[00:15:25] But here's a unique build, and that is Ulta Beauty represents joy in the world.

[00:15:30] That is emotional territory that we unlock.

[00:15:33] Brands love that map because not only are we helping them with the digital awareness,

[00:15:38] we're also helping them with positioning and how they show up differently within our universe.

[00:15:44] And that's exciting as well because all brands have this mindset of I want to build my brand

[00:15:50] and I want to stand for something unique in this very complex landscape.

[00:15:55] We'll be right back with The Speed of Culture after a few words from our sponsors.

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[00:17:19] So Gen Z is obviously a core target of yours,

[00:17:23] and you obviously, going back to our last discussion when you were at Samsung,

[00:17:26] we talked a lot about Gen Z as well,

[00:17:27] so obviously you know a lot about this demographic.

[00:17:30] Right now, about 12 to 27 years old,

[00:17:32] and the thing that really makes Gen Z distinct

[00:17:35] is that they were the first generation to grow up with the iPhone in the household,

[00:17:38] so they don't really know another world where the iPhone doesn't exist.

[00:17:42] And because of that, their eyes are always on their phone,

[00:17:44] and when their eyes are on their phone,

[00:17:46] they're looking at content not from so much traditional media sources,

[00:17:49] but from other people, i.e. creators and influencers.

[00:17:52] And your category, I know that's of huge importance,

[00:17:56] and I would just love to hear your thoughts

[00:17:57] now that you're in the seat of CMO of Alta for a couple years,

[00:18:01] how you look at creators as part of your overall strategy,

[00:18:05] and where do you see the creator channel evolving over time?

[00:18:08] Great question.

[00:18:09] So let's talk about like creators and influencers and where that all sits.

[00:18:13] Well, that's really anchored in the guest is obsessed by social media.

[00:18:18] We know that regardless of the industry,

[00:18:20] but I would say beauty is double down because of Get Ready With Me, etc.

[00:18:24] And then if I really step back and I think about what does social media mean for us,

[00:18:29] we have a huge amount of brand love and brand awareness,

[00:18:33] and it keeps growing every day, every week, every month.

[00:18:36] What we believe is the answer in the marketing challenge now is about driving relevance through maximum eyeballs.

[00:18:43] We want to really tap into this eyeballs, our economy,

[00:18:47] and making sure our content is as relevant as possible.

[00:18:50] So social media for us is not a part of our mix anymore.

[00:18:52] It is the core to our marketing mix.

[00:18:55] That is not the same for every brand, Matt.

[00:18:58] You know this.

[00:18:58] People talk about it, but it's not really at the heart and soul of what they do.

[00:19:02] So if social really is at the core of what you're doing and you're obsessed by trends

[00:19:07] and being able to serve up your content in a socially cultural relevant way,

[00:19:13] then creators and influencers are how you do it.

[00:19:17] And so when we just launched our Joy Project,

[00:19:19] our brands, our equity platform a year and a half ago,

[00:19:23] was very important for us that we tapped into our creators and influencers.

[00:19:29] And so the Ulta Beauty Collective, where we've increased our creators and influencers there,

[00:19:36] we have our affiliate program where we have our Ulta creators,

[00:19:40] and then we have our Ulta beauties, which I'm so proud of.

[00:19:44] And that's our own associates that work in the store map.

[00:19:47] And the fact that they are the most beloved and loved experts,

[00:19:53] when people walk through our double doors and people are like,

[00:19:55] I don't know how I feel about this red lipstick.

[00:19:58] I don't know how I feel about this hair color.

[00:20:00] Our associates are the ones that really help them.

[00:20:03] And the reason why I talk about the Joy Project is that when we launched the Joy Project a year and a half ago...

[00:20:10] And maybe you should explain the Joy Project is, Michelle, as well,

[00:20:12] for our audience who might not know what it is.

[00:20:13] Well, more than a year and a half ago, when I started Ulta Beauty,

[00:20:17] one of the key things I did is that I did a tour around the stores.

[00:20:20] And when I met all our associates, they had this reoccurring theme that they felt like

[00:20:25] they were almost like therapists to our associates and walked through the doors

[00:20:28] because people say, oh, I think I'm too old for this red lipstick.

[00:20:31] Or I think I'm too young for this look.

[00:20:34] And what they realize is that people are having this inner critic,

[00:20:38] this little frenemy from within telling them what they can and what they can't do.

[00:20:42] And so we ran a bunch of surveys and research,

[00:20:45] and we found that this inner critic actually is blocking people from a higher order benefit,

[00:20:51] which is what they call happiness or joy.

[00:20:54] And we landed on the space of joy.

[00:20:56] And we believe that Ulta Beauty, based on our consumer research,

[00:21:00] is uniquely set up in the beauty world as a place that when you walk through our double doors,

[00:21:05] the emotional sense that you get is, ah, I feel joy from being in this universe.

[00:21:12] And so we launched this a year and a half ago.

[00:21:16] We launched it with Mel Robbins, and we created this Inside Out program where we were teaching people,

[00:21:22] hey, don't listen to your inner critic.

[00:21:25] Live your best life.

[00:21:26] Over 90% of people say they want to have joy, but only 50% of them are saying that they actually feel joy.

[00:21:32] So we launched that.

[00:21:34] Then a little bit afterwards, we had a second wave where all our influencers and our creators

[00:21:39] created a campaign, which was, why don't we create the largest compliment chain in the world?

[00:21:45] And that is where all of those three pillars of creators and influencers,

[00:21:49] they teed up their best friends and said, here's why you bring me joy every day.

[00:21:54] And they shared a compliment.

[00:21:56] And literally, it was a joy forward moment.

[00:21:58] But really authentic to us.

[00:22:00] Hey, it wasn't something that other brands would do.

[00:22:03] And then just recently, we've complimented all of our influencers and social creators with launching a joy council.

[00:22:11] And Dr. Deepak Chopra is our chief of joy.

[00:22:14] And we have Ali Love.

[00:22:16] We have Laurie Hernandez.

[00:22:18] We have Jillian Terecki, who are all fabulous wellness experts and sports experts and relationship experts

[00:22:24] that are able to tell our story through what is important to them.

[00:22:28] So if I go back to your original question, creators and influencers are critical if you want to be relevant in this world.

[00:22:36] But we are doing it in an ultra beauty authentic way.

[00:22:40] And that is we're focused on what we stand for, which is joy.

[00:22:45] And we're doing it in a way that serves all beauty enthusiasts.

[00:22:48] Because we believe that we champion and serve all beauty enthusiasts because here at Ultra Beauty,

[00:22:53] we're a destination for beauty for a lifetime.

[00:22:56] And that means all ages, all races, all genders.

[00:23:00] So you need to have a very diverse set of influence and creators to do that.

[00:23:04] And we're excited.

[00:23:05] And we're very proud of the work that we're doing so that beauty is shown up and is a force for good in this world.

[00:23:12] Yeah, I mean, it's a fantastic concept, especially in this world, which can seem so polarized and frankly scary

[00:23:17] to be able to focus on something like joy and people complimenting each other.

[00:23:21] There should be more campaigns like that because there's so many areas to take serious.

[00:23:26] But beauty should be about fun.

[00:23:27] And this sounds like it's also about empowerment, which I love as well.

[00:23:30] And I love Mel Robbins.

[00:23:31] I think she's a great partner for this.

[00:23:33] And it totally makes sense why I know what the pillars of your brands are and why that connects with somebody like Mel.

[00:23:39] She was an outstanding partner because she really helped us to really think about the framework to bash that inner critic.

[00:23:48] So what we did, actually, we trained our internal folk.

[00:23:51] It was less of an external campaign because when you have millions of people that walk through our doors and you have 50,000 associates,

[00:24:00] I had an army of joy advocates already ready to go.

[00:24:04] And it was a one-to-one communication.

[00:24:06] And before you know it, it was like a pay-it-forward moment, but it was joy-forward.

[00:24:12] Yeah, very cool.

[00:24:13] So the one thing we both know with the industry that we play in, which is the world of marketing,

[00:24:17] is that the only constant is change.

[00:24:19] And one thing I know you've been successful at throughout your career is driving those transformations.

[00:24:25] And obviously, social media was a transformation.

[00:24:28] The mobile device and its ubiquity was a transformation.

[00:24:31] AI now is a transformation.

[00:24:32] How do you get an organization behind transformation and innovation, especially when you're working at large companies with many layers from a leadership standpoint?

[00:24:43] That's a great question, Matt.

[00:24:45] I think it starts with the guests.

[00:24:47] I think all organizations should always start with the guests.

[00:24:50] At Ulta Beauty, we are obsessed by serving our guests.

[00:24:53] And so when we think about transformation and innovation, it really is about understanding how that guest will be experienced in this world in a couple of years out.

[00:25:03] So think about one to three years and think about what are their dreams and hopes and what is going to block them from that?

[00:25:10] And how can Ulta Beauty uniquely help our guests achieve their dreams and hopes?

[00:25:16] So for me, that is how I rally people.

[00:25:19] So it's not a logical, it's also a heartfelt.

[00:25:22] And it's easy to do because Ulta Beauty has always been at the forefront of innovation.

[00:25:28] Because over 34 years ago, we created Ulta Beauty based on we knew that the beauty enthusiasts wanted a different shopping experience.

[00:25:36] And therefore, that's what we serve them.

[00:25:38] So you paint a future.

[00:25:40] That's your step one.

[00:25:41] You get people rallied around the emotional desire to really serve our guests differently.

[00:25:46] And then it's a strategic game where it's like, what are all the options that we can do?

[00:25:51] And then what is unique to Ulta Beauty?

[00:25:53] And what is the most obvious thing based on our brand partners that we have?

[00:25:59] What is our equity?

[00:26:00] What does the guest believe that we can uniquely do?

[00:26:03] And then that's what you start working on.

[00:26:05] And it's all about the third pillar is in market agility.

[00:26:09] You start, you learn, you have MVPs, you see what works, you see what doesn't work, and you pivot.

[00:26:15] I think I've oversimplified the approach, but it is emotionally connecting with that future, being strategic and thoughtful about your options.

[00:26:23] And it's about being flexible in market once you get there.

[00:26:27] Yeah, I love the flexibility side because a lot of what we do, especially when we innovate, just entails so many unknowns.

[00:26:33] And you always have to be iterating based upon what you see and how technology and the consumer evolves to make sure that you're staying up with the time, so to speak.

[00:26:41] Because you may have an idea 18 months ago, and by the time it's in market, some parts of it might not make as much sense anymore.

[00:26:47] And you can't be afraid to pivot or change or evolve along the way.

[00:26:50] But see what you just said, like in the world of 20 years ago, 10 years ago, five years ago in your Create Brand campaign, you might start a year ahead and work on it.

[00:26:59] That is no longer how we do things.

[00:27:02] Like social moments are happening now, cultural moments are happening now.

[00:27:05] And organizations don't need to build in that agility, that listening, so that they can create a campaign on a whim and be able to run fast.

[00:27:15] That takes a whole different set of skill set and processes and capabilities.

[00:27:20] Yeah, I was talking to the head of marketing at Molson Coors, completely different category.

[00:27:25] But he told me that there was a celebrity who started to talk about how he loved one of their products, but he enjoyed it in a different way.

[00:27:33] And then the team quickly kind of pivoted and rolled out a new product to basically support that celebrity so they share it.

[00:27:40] And that's a perfect example of being agile, having your ear to the ground of the customer.

[00:27:44] And if there's some trend that's emerging and there's so many that emerge in your category, you really have to have the agility and organizational design to be able to move quickly.

[00:27:55] Because too many companies have these like legacy infrastructures that disable them from taking advantage of the speed in which the world evolves right now.

[00:28:02] Oh, you're so right. And listen, if you're right, we see ourselves as the ultimate brand building organization.

[00:28:10] So when I'm working with all our 600 brands, if we're social listening and we hear that something is really hot right now with Bubble, with Mac, with Clinique,

[00:28:21] it is something that we take seriously and we jump on it, work with our brand partners and think about how we can create little mini campaigns so that we can leverage that moment.

[00:28:31] It is incredibly important that marketers today, they understand that social is just not one of those things.

[00:28:39] It is how we do marketing now.

[00:28:41] Absolutely. So shifting gears, we wrap up here and talking about you and your leadership style and your passion.

[00:28:47] One thing I admire about you, Michelle, is how passionate you are about empowering women leaders and really encouraging women to kind of uncover their superpowers so they can take advantage of their fullest potential.

[00:28:59] Why is that important to you? And what do you think kind of the key qualities are that kind of define the next generation of successful leaders heading into 2025?

[00:29:08] Well, listen, I think it's all about bravery.

[00:29:10] I think that really is the crutch of a fabulous life and an amazing life and an amazing career.

[00:29:16] And I'm obsessed by that because as a child, I lived this.

[00:29:21] And everyone has their own little story.

[00:29:22] I have my own little story about how I grew up and very humble beginnings.

[00:29:26] And I think I'd be sitting here today chatting to you if I hadn't made brave decisions at crossroads, critical, crucible moments in my life and taking the bold move.

[00:29:37] For instance, the age of 21, living in Scotland, deciding that I was going to move to Frankfurt, Germany as my first assignment after leaving college.

[00:29:45] Boom. A couple of years later, moving country again.

[00:29:48] A couple of years after that, moving country.

[00:29:49] Having children, giving birth to children in different cities and different countries.

[00:29:55] And then most recently relocating to Puerto Rico three years ago.

[00:29:59] My husband's Puerto Rican, so maybe not so tricky and so difficult.

[00:30:03] But these are all brave moments in life that every time we sit down in business, in life,

[00:30:10] and we have those little micro decision moments, stepping back and going in five years and 10 years,

[00:30:15] if I make this decision, where will it nudge me towards?

[00:30:19] And I think that really is something that I try and unearth in all the leaders.

[00:30:23] And I talk about intuition being a superpower.

[00:30:26] People are born with it.

[00:30:28] Some people are not.

[00:30:29] And then some people lose their trust and their intuition.

[00:30:32] I think in business, listen, I have 44 million loyalty members.

[00:30:36] I have all the data I want.

[00:30:37] But a true leader is seeing the data and then feeling the data and feeling the consumer and

[00:30:45] being in their head and understanding their loves, their dreams.

[00:30:49] Well, that takes a very centered mind leader.

[00:30:53] That's what I want to really unleash.

[00:30:55] So that all the little boys and girls that maybe just like me didn't have all the amazing

[00:31:01] opportunities in life, but every time there is an opportunity, they grab it and they're

[00:31:06] ready to go.

[00:31:07] Listen, I think I would love that that would be my little legacy in life, that I have a little

[00:31:12] helping hand to help someone so that they can live their dreams.

[00:31:16] Just like I'm doing today, Ulta Beauty is my dream job.

[00:31:21] My first love was beauty care.

[00:31:22] I started in beauty care in P&G all those years back.

[00:31:26] I still remember my first assignment in beauty care was actually working in IT and supply

[00:31:32] chain in one of our production facilities for fine fragrances and cosmetics.

[00:31:37] I started way back making the product and then eventually marketing the product.

[00:31:43] And I never imagined my future could be like this.

[00:31:47] So when I speak to young kids or young grads, I'm like, hey, you just need to dream big and

[00:31:54] give yourself the permission just to believe in a world that you don't know how to achieve,

[00:32:00] but know that the world and the universe is waiting to give you that opportunity.

[00:32:04] You just got to grab it.

[00:32:05] Yeah.

[00:32:06] And of course, the obstacle to bravery is fear.

[00:32:08] And I think the reason that people aren't empowered to be brave is because there's some

[00:32:14] fear and security is getting in their way.

[00:32:16] Do you have any particular advice in terms of how to overcome fear?

[00:32:20] Because you obviously could have been fearful of leaving your previous role to go join Ulta

[00:32:26] and all the other changes you've made throughout your career, but you felt empowered and brave

[00:32:30] enough to do it.

[00:32:31] I'm sure you had some fears and insecurities along the way.

[00:32:34] When you have, how have you been able to kind of, I guess, get past them to get to the other

[00:32:39] side?

[00:32:39] But, you know, I think fearlessness is something that you'll learn.

[00:32:43] And I think everyone here who's listening, if you have kids or if you have little brothers,

[00:32:47] little sisters, teaching that is something that will set them up.

[00:32:51] Regardless of their skill grades, they're fearless in life.

[00:32:54] They'll have a fulfilling life.

[00:32:56] I can't say I'm fearless in everything.

[00:32:58] I'm still afraid to jump out of a plane.

[00:33:00] That is one thing I'm working myself up to or skiing down a black AC run with lots of

[00:33:06] moguls.

[00:33:06] All my friends will chuckle because they know I'm afraid of that.

[00:33:09] But when it comes to my career, I'm pretty fearless.

[00:33:11] And here's why.

[00:33:12] I had a very challenging childhood.

[00:33:15] I say challenging.

[00:33:16] I think it was the greatest gift.

[00:33:17] I look back and I feel very, very fortunate and lucky to have it.

[00:33:20] But in the moment, there was a tough few moments losing my mom really young in age.

[00:33:25] She passed very young.

[00:33:26] And in those moments, they teach you something that life hits harder than most things.

[00:33:32] Life hits harder than your job.

[00:33:34] There are people listening today that have sick loved ones.

[00:33:37] There are people listening today that don't know how they're going to pay their bills at

[00:33:40] the end of the month.

[00:33:41] They're real problems to be afraid of.

[00:33:43] Whether you walk into a meeting or whether you fail at a podcast, they are not problems

[00:33:49] to be afraid of.

[00:33:50] As in fact, there are opportunities to learn from.

[00:33:52] And you should be aiming to fail every day because it means you're pushing yourself every

[00:33:59] day.

[00:33:59] And I want you to look in the mirror at everyone.

[00:34:02] And there's always a presentation that people are afraid of.

[00:34:05] Ask yourself, what is the worst that can happen?

[00:34:08] And most recently, I had a teleprompter issue.

[00:34:11] I won't say where and when.

[00:34:13] And it froze for five minutes.

[00:34:15] Well, maybe it was two minutes, but it felt like five minutes.

[00:34:18] And I'm telling you now, what I did is that I knew weeks earlier, Michelle, practice your

[00:34:24] presentation and memorize it.

[00:34:26] You never know.

[00:34:27] Your teleprompter could have a failure.

[00:34:29] And guess what?

[00:34:30] It had a failure.

[00:34:31] It had a failure.

[00:34:32] So there's a tip.

[00:34:34] Go through and think about all the things that can go wrong and ask yourself, what is

[00:34:39] the really worst thing that can happen?

[00:34:41] And you'll realize it's not that bad.

[00:34:43] And you'll ask yourself, how can I mitigate all those things?

[00:34:47] And that particular example was memorize your speech.

[00:34:50] Memorize it.

[00:34:51] Don't wing it.

[00:34:52] Memorize it.

[00:34:53] And that's what happens.

[00:34:54] So remember, life hits harder than work.

[00:34:58] And if you can get through tough times in life, those presentations, those reports, they are

[00:35:04] just a blip and a beautiful life that you're about to have.

[00:35:07] I love that.

[00:35:08] So finally, Michelle, and you shared so much great wisdom today in terms of your experience

[00:35:12] and your ability to overcome adversity and get to the great place you are in your career.

[00:35:16] Is there sort of a quote or a mantra that you like to guide your career by?

[00:35:21] I was just telling my kids this yesterday, Theodore Roosevelt, the man in the arena.

[00:35:26] And it's the first line.

[00:35:28] It's not the critic that counts.

[00:35:30] Not the critic counts.

[00:35:31] I mean, I can't remember it fully, but it's the man in the arena with the sweat in the

[00:35:35] dirt.

[00:35:36] I'm paraphrasing now.

[00:35:37] And sometimes I remind myself, if you are going to be an innovator, if you're going to

[00:35:43] push the boundaries of what is possible, then there will be naysayers.

[00:35:49] And you got to look them in the eye and go, that's okay.

[00:35:54] Life has to be with adversity.

[00:35:57] And no, as long as you keep trying and you keep fighting, for me, the good fight is joy

[00:36:04] and bringing joy to the world and all to beauty, knowing that we can make the beauty world

[00:36:09] a force for good for all.

[00:36:11] Then I don't care about the naysayers.

[00:36:13] In fact, the naysayers, what they do is they feel me because I know what I need to do to

[00:36:20] bring everyone along the journey.

[00:36:21] So everyone remember that it's not the critic that matters.

[00:36:26] Yeah.

[00:36:27] Well, you heard it from Michelle and I couldn't agree more.

[00:36:29] Get in that arena.

[00:36:30] Don't worry about what the critics say.

[00:36:32] Get on the other side of your fear and kind of just dive in with bravery.

[00:36:36] And I think that's great advice for any marketer, regardless of where they are in their career.

[00:36:40] So Michelle, once again, you did not disappoint.

[00:36:42] I think the next podcast needs to be on the airplane before you're about to jump out and

[00:36:47] go skydiving.

[00:36:48] Oh my goodness.

[00:36:50] I'm like scared.

[00:36:50] I need to do this.

[00:36:51] I got to do it.

[00:36:53] All right, fine.

[00:36:53] We're going to do the podcast at 30,000 feet.

[00:36:55] You heard it here.

[00:36:56] Michelle is committing to it right here.

[00:36:58] I love it.

[00:36:59] Love it.

[00:36:59] Awesome having you, Michelle.

[00:37:01] I can't wait for our audience to hear this interview.

[00:37:03] And let's do it again sometime soon.

[00:37:05] And best of luck to you throughout the holiday season and hanging in the 2025.

[00:37:09] Thank you so much.

[00:37:10] It was great.

[00:37:11] Absolutely.

[00:37:11] On behalf of Susie and Abby King, thanks again to the great Michelle Crossan Matos,

[00:37:15] the CMO of Ulta Beauty, for joining us once again.

[00:37:18] Be sure to subscribe right now to Speed of Culture podcast on your favorite podcast platform.

[00:37:21] Until next time, see you soon, everyone.

[00:37:23] Take care.

[00:37:28] The Speed of Culture is brought to you by Susie as part of the Adweek Podcast Network and Agass

[00:37:33] Creator Network.

[00:37:34] You can listen and subscribe to all Adweek's podcasts by visiting adweek.com slash podcasts.

[00:37:40] To find out more about Susie, head to susie.com.

[00:37:43] And make sure to search for the Speed of Culture in Apple Podcasts, Spotify, or anywhere else

[00:37:48] podcasts are found.

[00:37:49] Click follow so you don't miss out on any future episodes.

[00:37:51] On behalf of the team here at Susie, thanks for listening.

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