No one would recommend starting a business in a pandemic. Yet that’s exactly what happened with the beauty industry, Boost Lab. Moving quickly from the original retail concept to e-commerce was less of a pivot than a necessity for the brand.
With the original concept of growing the brand and sales in retail and online stores, the retailer suddenly had to become a digital business from the start.
“Our early outlet jobs included chemists, but Covid has reset that expectation. Our plans to expand these retail agreements and partnerships were scrapped in early 2020 and going digital became our primary focus,” said Craig Schweighoffer, CEO of Boost Lab.
Today, digital remains at the heart of the business, although the brand plans to open concessions and its own stores in the near future. Now enjoying a strong digital foundation, expansion into retail will be about increasing revenue and customers.
“Digital is here to stay because it supports our brand promise, which is very powerful and simple: to provide quality skincare and accessible prices in a simple way. Digital in particular makes this promise meaningful for customers” , said Schweighoffer CMO.
On the innovation front, a selfie-based artificial intelligence (AI) skin analyzer provides customers with skin insights and the brand with already partially qualified data.
“We can communicate with that person and engage with them, with their permission, from day one,” Schweighoffer said.
This is just one example of bringing technology closer to a consumer product. “This attention to detail – creating value and creating digital connectivity – reflects our approach to business.”
Build your marketing chops
From the start, Boost Lab knew it needed to build brand and market credentials in serious skincare. For its target market, women between the ages of 25 and 35, this initially meant use influencers to seed the market with products and to create awareness.
“We’ve been able to build our credentials in this space, but I think the world has moved on,” Schweighoffer commented. “Our best work with influencers actually comes from those who enjoy using the product, and that authenticity is clear and of course very strong with our customers. In the world of influencers, you just don’t get a cut unless you’re authentic.”
From there, Boost Lab invests more in search and social media to drive traffic to their website.
“We were approaching the stage where we wanted to take things to the next level,” Schweighoffer said. “At this point in the history of any business, marketing is shifting to focus on spending, on maximizing the use of creative labor.”
The brand has worked with Digivizer to use data as the basis for digital marketing decision making. The approach includes measuring which channels performed best, how that changes with creative, product, or audience demographics, and how fine-tuned targeting messages were to those audiences.
Prior to Digivizer, Schweighoffer said his team was on top of metrics, such as return on ad spend and cost per acquisition in particular. These measures have all played their part in determining how to increase spending. But it was a clumsy and difficult process.
“We need everything that Digivizer can capture and analyze, in an efficient way, so that I can make spending decisions that take us to the next level. Now we can spend wisely, with creativity that resonates and that we can say it’s effective,” he said.
Having Digivizer under its platform facilitates real-time decision making. Looking ahead, Boost Lab’s priorities are to monitor when performance begins to decline. As Schweighoffer said, brands should always test.
A deep dive into data
Being able to break down overall performance to see what’s working, and perhaps more importantly, what’s underperforming, has honed the brand’s ability to make strategic decisions.
“I’ve always relied on data to help me make decisions throughout my career, so being able to see everything in one place plays to my strengths,” Schweighoffer said. “As we looked to go faster, we knew we had to do something different with our content and digital marketing to get more cut. We knew doing more of the same thing, hoping for a different outcome, was not going to work. not work.
When it comes to return on investment, Boost Lab focuses on return on ad spend (ROAS) as a broad game. “For us, it’s a measure of average order value,” Schweighoffer said.
“The metric I like is cost per acquisition, the cost of acquiring the customer we need, which is also a measure of our efficiency. We’re significantly more efficient with the Digivizer app.”
Digivizer co-founder and CEO Emma Lo Russo said CMO that when it comes to ROI, the most important set of metrics and data is ultimately defined by the business objective.
“Most businesses should have financial returns somewhere in their metrics, and so conversions, along with cost per conversion and data like website links, all become important,” Lo Russo said. “Different data provides different insights, and different metrics reflect progress and performance at different stages of the sales and marketing funnel, from top to bottom.”
Whether it’s a digital business or more traditional retail brands transforming into a stronger online business, “strategy and data are driving the move online, and data continues to inform the decisions companies make,” Lo Russo said.
For Digivizer, removing the complexity of comparing different data points across different touchpoints, whether Google or Facebook, helped define attribution differently.
“Basically, you have to compare apples to apples. The problem comes from asking a seller of oranges what his product is worth compared to an apple. They just can’t answer that question,” Lo Russo said.
It’s also about being able to experiment by adding a new or different platform and adding it to the performance comparison mix. Recently, Boost Lab added TikTok to the list of paid media.
“If you don’t try, you’ll never know, so we decided to develop some creativity with TikTok’s advertising and business development teams, and we discussed how TikTok could work for a business in the skincare field. Can we get the best of top-of-funnel awareness, people coming to our site, can we convert and make a sale?’” says Schweighoffer.
“We’re still trying to address these issues, but it’s very effective for the top of the funnel, with a very good cost per click. And if we can see the performance continue, the likely plan will be to reduce expenses. on TikTok, although it’s important for us to have as wide a spread as possible across multiple platforms.”
Whether online, out of home, or on social media, Boost Lab uses data to compare how the same creative performs across a range of platforms to understand where it performs best and where customers appreciate it the most. his exit.
“If I can control it, measure it, and improve it, then I know where to increase spending and get a better result,” Schweighoffer added.