Female Opps: BeneFit Cosmetics loses CMO amid significant digital spend increase (Score 54)

Sales Lead: BeneFit Cosmetics is in search of a new top marketer since having parted ways with Stephanie Davis Michelman in April 2023.

• Davis Michelman joined the company in April 2022 as its global CMO.
• Now, she is the CEO of The Inkey List.
• The company will likely:
  • Need additional marketing assistance in her absence
  • Continue increasing spend
  • Seek new agency partners, especially once it finds a new top marketer
• Target demographic: 
  • Gen-Z and millennial women

​​​​​​​​​​​​​​Additional recent leadership shifts:

• BeneFit has made many lower-level appointments over the past year including social media manager Madeline Musa, who joined the company in November 2022.

Additional spending insights:

• Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
  • YTD spend: Since the beginning of 2023, BeneFit has spent roughly $978.7k on digital ads, around double the roughly $476.6k spent by this point last year.
  • YTD data: The company has earned an estimated 138.6m digital impressions YTD, 62% via Instagram ads and 38% via Facebook ads.
  • Last year: BeneFit spent approximately $1.5m on this channel in 2022, 17% less than the approximately $1.8m spent in 2021.
• Additional channel insights  
  • The company utilizes print, OOH, radio, digital, local broadcast, Facebook, Instagram, TikTok, and Twitter ads.
  • BeneFit sponsors podcasts such as The Guilty Feminist and RISK!.
  • The company also works with various influencers.

Additional agency insights:

• Opportunity: Agency reviews could easily follow an upcoming CMO hire, so it would BeneFit you to reach out soon to be top-of-mind when one occurs.
• Current agency roster:
  • ​​​​​​​In-House: Media

Insight Sources: Digital spend insights estimated by Pathmatics; additional channel insights estimated by Vivvix; podcast insights by Podchaser.