← Coffee N° 5 with Lara Schmoisman
Coffee N° 5 with Lara Schmoisman
Beauty Connect LA: Behind the Trends Driving the Industry with Joanne Murphy
00:22:22
Loading summary
Transcript54 lines
- [00:00]
A
Foreign.
- [00:05]
B
This is Coffee Number Five. I'm your host, Lara Schmoisman. Hi everyone, welcome back to coffee number five. And you see me around, you see me on LinkedIn and you see that I quite travel a lot and also I go to a lot of events in the industry. This is something I didn't though many years ago I didn't understand why people will go to events. And then as I got invited to one I really got hooked and I was like, wow, you can learn in these events and on top of that you can get to meet with people and you make relationships and there is so much and you get to know about new products and depends every event that you go and from different segments of the industry. So different industries. It's, it's amazing that there's so many events that at the same time they are different. So as you know, I want always to bring you some news on the, on the different spaces that I work with. And today I want to bring you Joanna. Not Joanna, Joanne. I always do this, you guys, how I keep doing it, I change everyone's name. Joanne Murphy. Welcome Joanne. You are a kios Kiosk Research, right?
- [01:27]
A
Yeah, no. Hi, nice to meet you and thank you for having me on the podcast. Yes. Andrea Murphy. I work at Kosako Research.
- [01:34]
B
Yes you do. You are. I mean nobody knows about Kaka Research but they know about Beauty Connect and all the amazing events that you guys cater for different industries actually. But today we're going to be honing in in the next beauty industry that is event that is coming to LA in November and that you're a huge part of it because you are in charge of content. And something I learned about you today, which I didn't know and I think is fascinating is that your background in journalism and how you use those tools and that education to be able to bring incredible content. So tell us a little more about that.
- [02:16]
A
Yeah, of course. So I have a bachelor degree in journalism. Throughout my, my time studying for my degree, I was involved in lots multimedia projects. I had published work as well. And it was always centered around consumer trends, global pressures, you know, looking at what's impacting businesses and health and nutrition trends. So that was really beneficial when coming into the events industry, obviously having that research and content creation background and then developing that experience with the focus on consumer brands. So in business services, conferences across food and beverages, health and wellness, technology, hospitality. So I had a lot of experience around those, the consumer brand focused conferences. And then I came into the beauty industry which is of course a really fun one. I lead on the content, so I basically lead on the sessions and speakers as well as the year round webinars, the online interviews with speakers and our faculty. And then I produce the industry reports as well.
- [03:17]
B
So let's start from the beginning. You finish an event and then you start, say okay, I will learn from this event from this year. So we're focusing on the next year. So how do you come up about what you want those sessions to be is a mix of sponsored content, is a mix of trends. Where do you come up with ideas?
- [03:39]
A
So at Cosaco we're super focused on the relationships with the different stakeholders. So particularly for Beauty Connect where we, you know that the whole event concept is centered around the growth and scale journey for emerging and established growth stage age beauty brands. So we want to look at all the stakeholders that are key for those brands to be able to grow and scale in the industry. So we have the beauty brands themselves, we have the retailers, the investors, we have increasingly sort of media and press and creators in the industry. And it's really important for us to have those relationships that we, you know, we, we have calls with them year round to kind of touch base on what is really, really key in the industry right now, what challenges they're seeing, what opportunities they're seeing and how our events and content year round can really help the brands in what they're trying to achieve.
- [04:34]
B
Something very unique about your event, there is the opportunity of having one on ones. I always enjoy that and I think that it's so important how you guys create those opportunities. So what do you do? First of all, can you explain about what is a one on ones about and what it's for? Because a lot of people also want to have these one on ones. Maybe not for the reasons that they should be having a one on one. So what are those one on ones for?
- [05:03]
A
Yeah, absolutely. So you know, you attend so many events and the scale of the event is just huge. You've got lots of stands but you never actually really have that one to one interaction with the people that you want to meet. So we like to make that as simple as possible. We have lots of different networking activations throughout the event, but one of those is the one to one meetings. So so we have a booking system on our event app where we match up the attendees. So from different stakeholder groups, we match them up depending on their interests, you know, what challenges they're looking to solve, what opportunities, the partners that they need to make that possible and we actually match that up really intentionally and then facilitate those meetings on site.
- [05:51]
B
This year you guys are changing venues. What's the difference? What's the difference between the people who want an event last year in Hollywood this year that they're going to go in Beverly Hills?
- [06:02]
A
Yeah. So the Fairmont Century Plaza. As soon as you say that, that venue, everyone is just thrilled. It's a fabulous venue and you know, obviously for the beauty industry, you know, you want that kind of glamorous feel but you also want the space to be able to have an event like this that you know, has the rooms for the one to one meetings. It has a press, you know, room for a press lounge which we had this have this year and has that space with where people are really able to go and see the different exhibitor stands. But it kind of, it fits the brand of beauty and of course it's in a really central location as well that everyone wants to get to and they can have their dinners after the event and carry on that networking outside of just the kind of the agenda sessions.
- [06:47]
B
Yeah, absolutely. It's a beautiful location. Also something else that I understood that this year is that before you have like all the brands together, now you're tiering them to understand where they are in their journey. Is that correct or is just my perception?
- [07:06]
A
Yeah, no. So we do a lot of research into the brands that are attending our event and again so that we can really tailor the communications and kind of make sure that they're getting the most out of attending. So we have a profiling process for everyone that register with registers to attend where they kind of talk about what they're focusing on at the moment in the industry. And we actually have a report called the glossary. So within that you'll be able to go through and see all the brands that are attending and that's split into the startup brands, it's split into the emerging growth. Then you've got the multinational corporations and then you've got that separate kind of investor, retail and media section as well. So, so that anyone attending can really understand who it is that they'll be meeting in the room and what it is that they're looking for to be able to kind of plan those conversations before they've even got to the event.
- [08:01]
B
That's fantastic. I think that's so, so great because you are not. It's really hard for many people. So before, keep that thought before I ask you this because I see in very clear ways that you have divided the event and people that they come in when they are Buying tickets, you have of course ret sellers, you have brands, you have service providers, you have what else? Financial. So how do you guys divide everyone who comes into the the event? That's my question.
- [08:35]
A
Yep. So we have, we have the brands like you said, we have, we have the retailers, we have the investors and then we have kind of industry supporting as well. And the way we split it up is so the service providers that can be anywhere from kind of technology supporting supply chain, it can ingredient suppliers, it can be your marketing agencies and these are all the supporting companies that are helping the brands in their growth journey. So we do split those passes up kind of depending on what their focus is and intention for attending.
- [09:08]
B
Okay. Because there is. And also you have the sponsors and I think that this is really important to talk about this because a lot of sponsors are sponsoring for a reason. So how you make sure that your sponsors are getting what they need from this event?
- [09:26]
A
Yeah, of course. So you know, with the, with the sponsors, you know, when you look at the agenda you can see the kind of topics that we're covering and how it does it covers, you know, everything from product concept generation to tapping into new markets to building influencer strategy, optimizing supply chain. And you know, for all of those different phases of a brand's growth journey, we also need the sponsors in the room to be able to provide those solutions to the brands. And they are, you know, all the sponsors that we have are curated to the challenges that the brands have.
- [10:03]
B
So for example, when you're mentioning about all the research that you guys do and which is I think is fantastic when you're talking to brands, what are the biggest challenges that you see see brands facing?
- [10:16]
A
So the key challenges that we're looking at at the moment, I mean definitely E commerce and the kind of omni world that is a really key area. So you know, looking at the growth in online sales that now account for almost 50% of beauty and personal cares in the in the US that's outpacing the in store sales. So for those brands are really looking at the kind of how they can tap into global e commerce so how they can use global marketplaces, Amazon TikTok shop to redefine distribution, you've then also got the brands that have been really focused on direct to consumer strategy that are branching out into retail. So for example Refy, which is a UK brand, they've actually just this week launched into Sephora. And that's the kind of journey that we're really focused on supporting that that's that's great.
- [11:12]
B
And also the same times you guys are, I'm supporting the partners because one of me as an agency, I'm partnered with a lot of the same platforms that you guys partners from the sponsorship. And what I realized that a lot of the issues from the platforms is that they, they have great, great technology, but not every brand knows how to use it. And then they tell you the technology is not working there is not that easy how to use to the full potential every technology.
- [11:46]
A
No, absolutely. And that's why I think having the in person conversations, you know, it allows the sponsors to fully understand what it is that the, the brands actually need. What might be making them hesitate. You know, for a brand to implement new technology or kind of revamp a whole process, it can be overwhelming, it can take time, it can investment in terms of cost as well. So the brands can really kind of explain that to the sponsor, the technology providers and then it can help them actually develop a plan to work together.
- [12:21]
B
That's great. That's amazing that you guys provide that solution because I see a lot of brands in technologies, I mean technology sponsoring and trying to get the attention of their customers. But it's hard sometimes to get a full understanding on what the platform can do for you.
- [12:41]
A
Yeah, no, exactly. And I just wanted to say, so going back to the biggest challenges that, that we're seeing right now in the beauty industry and what our attendees are really focusing on. So with this really big focus on E commerce and omnichannel approaches, we do actually have a report coming out which as I said is a big focus for us to support the event. Because as much as we want to curate the best conversations on site, that's only, you know, that's one point in the whole year. So to be able to provide our audience with content all year round, we want to carry on those conversations. So we've got a retail ready playbook coming out and that really goes through all of the steps.
- [13:25]
B
You know, when is that one coming out?
- [13:27]
A
So that should be coming out next week actually.
- [13:30]
B
Oh, amazing. Yes, we're gonna be able to put it in this chapter notes, you guys.
- [13:34]
A
That would be amazing.
- [13:35]
B
I have a question this time, this beauty connect, do you have kind of focus, a theme, something that people can expect to hone in.
- [13:45]
A
Yep. So I mean, I don't mean to keep going back to, to retail, but it really is a huge growing area for us. So we do have, we have Sephora, we have Ulta Beauty, we have Target, actually just came on board this week as a Speaker as well. So we have these retailers looking at various, various perspectives and angles for, for retail conversations. So we have looking at there's any.
- [14:10]
B
Also categories of beauty that you guys are focusing on in this event?
- [14:15]
A
Yeah, absolutely. So tech innovation is a really big focus in terms of the skincare category. So the skincare category is actually the number one on beauty retailers radar, but also for beauty brands and you've got leaders like Medicaid skinceuticals that are really reflecting that demand for high end clinical offerings and consumers are really wanting that, you know, the backing from dermatologists really knowing that they're going to have the results from efficacy based skin care.
- [14:45]
B
And another something that we see all around like efficacy is so important right now and the consumers are demanding that information.
- [14:55]
A
Yeah, yeah, exactly. And this is where the, the labeling and the claims come in as a really important focus point for brands to make sure that they're, they're delivering on what the consumer's looking for because they're really.
- [15:08]
B
Now I always say like in when I went to school, we always learn about the paid media, owned media and earned media. Today I think that there are two more medias that one is a share media and that is social media and any way we share content, but also we have a marketplace media that we cannot forget. And I feel like you guys are really incorporating this information by bringing marketplaces into the conversation.
- [15:40]
A
Yeah, yeah. So I mean obviously with the social media that is, that's a really big focus in terms of founders as well as the founder stories is, is, is huge. So looking at founders like Kailey for example, you've got Monica Tan who is a huge face on, on social media and you know, consumers really buying into the brand with that, with that founder story. And then you've got, you know, the social selling, social commerce side with TikTok Shop and global marketplaces like that where they're reaching completely new audiences and touching into the younger consumers as well and being able to educate them on kind of skin care benefits on social media and through content that way, which is a new, new brand brand storytelling and messaging process.
- [16:25]
B
Yes, absolutely. So Joan, let me ask you a question because what is fascinating for me is that you guys are based as you guys can hear from Joanne's accent in the uk but also you hosting events in LA and in different places in the us. So how this, you feel like there is a different cultural interest in different countries or you feel like it's getting more global every time.
- [16:53]
A
So for us the demand was really there with The US beauty brand brands being one of the, the biggest markets and you know, our event has been really focused on the, the more local US brands but actually increasingly as you've said looking at more global marketplaces, we are actually looking at more international brands. You know, for example in skincare you've got K Beauty and that's really big. And we've got a couple of brands attending from that space this year and next year as we, as we scale and include well a little teaser here as we include an extra track at the event which actually focus more on those kind of e commerce topics.
- [17:32]
B
I love that. Can you tell us a little more about that or.
- [17:36]
A
Yeah, I can tell you a little bit. So we're looking to, to scale the event to be able to have you know, all these stakeholders in the room and basically have one track that is going to really delve into the E commerce, the omnichannel, the you know, affiliate marketing, all of those kind of topics that's really generating more revenue for these brands and then having another track which is really focusing on the optimization ele, you know, looking at technology within supply chain, sustainability, investment, all of those really crucial topics. And you know, naturally as we scale we've been, we've been inviting more and more global brands and that will be something that continues to grow for us.
- [18:15]
B
Okay, so let me ask you a question. What can we expect in this event in Los Angeles in November?
- [18:25]
A
So at the event, you know, it's a three day super high energy event. We have a pre day which is more intimate with the kind of more focused workshops. We have opening drinks where we invite the whole audience on that first pre day. Then you go into the two days of the conference where you know, we've got all 750 plus attendees, we've got lots of panel discussions on stage, interviews, networking activations, awards. So yeah, lots of, lots of really fun things to get into as well as all the, obviously all the really valuable content and takeaways which I've kind of gone into a little bit on already. But yeah, I mean the, the exciting thing is as well that the awards is in its second year now and we're actually going to be opening the voting for the awards a week before the, the event takes place. So all the, all the attendees will be able to see the shortlisted awards nominees and start voting for those and then we'll have the awards ceremony on the, the night of day one.
- [19:30]
B
Amazing. So why brands should attend to BeautyConnect.
- [19:35]
A
So you know, for, for all those brands, whether they are a startup or they are an established kind of growth stage brand. You know, our event takes them through the whole beauty ecosystem. They converge with all stages of other brands, investors, retailers, product service, technology providers and then also increasingly that media and press and crater presence which, you know, they're just as part of the whole beauty journey as anyone else. And I think previously that hasn't been highlighted enough and that's something that we were really focused on. But yeah, I mean just covering all of those stages have been able to connect with the C suites and the VPs from all of those stakeholder groups with all the different sessions and networking.
- [20:15]
B
That we have, that's an incredible opportunity for brands and so what service providers and platforms should attend to be reconnected.
- [20:25]
A
So for them, you know, being able to get those C suite and VP level executives from those brands have been able to have those really intimate conversations and as well as hearing from some of them on stage, you know, going really into the challenges they're experiencing and what solutions they're looking for, they can then continue those conversations off the stage in the networking areas, in those one to one business meetings and really present their solutions how that would help the brands along in their journey. And you know, these are deals that that happen on site. You know, we're actually looking to create a report that goes more into the partnerships that happen as a result of our event and that's something that we're keen to develop after this year.
- [21:10]
B
Well, you hear it. There is a reason for every one of you to go to VA Connect. And I have last question for you Joanne. How do you drink your coffee?
- [21:19]
A
My coffee, I am quite basic actually. I like a cappuccino and I have it with normally soy milk.
- [21:26]
B
Okay, well hopefully we can have a cappuccino together at VREConnect.
- [21:30]
A
That would be lovely.
- [21:31]
B
Thank you so much for being with us today. It was great having you. And to learn more about the event that is coming to town in la. The dates again remind us.
- [21:41]
A
Yeah, no, I was just going to say thank you. Yeah, we'd love to see everyone at the event on the 3rd to the 5th of November at the Fairmont Century Plaza in LA. We still do have registrations open so if you want to go to the website and you can get your tickets there.
- [21:56]
B
Okay, well I hope to see you guys there. Okay, thank you so much Joanne and to you guys. I will see you next week with more coffee number five.
- [22:06]
A
Thank you, Lara.
- [22:07]
B
Find everything you need@larashmoisman.com or in the episode notes right below. Don't forget to subscribe. Was so good to have you here today. See you next time. Catch you on the flip side. Ciao. Ciao.