Mike is the Co-Founder of Wunder 2 which is an innovative beauty product that takes under two minutes to apply. In today’s world where everyone is looking for things to move faster and faster Wunder 2 has filled that need for thousands of people. Here’s what it’s like running such a company:
Jay: What’s it like as the Co-Founder of a new and growing beauty product company?
Mike: Running a company, especially when it’s your own, is both rewarding and extremely challenging. Imagine riding on boat which has a hole which you begin to plug only to realize another, and then another and another…. There are always new angles that need to be covered and from my experience the only way to succeed is to take a step back and clearly understand your strong points and your weak points and make a well thought out plan to grow what you’re good at and find the right people to develop, tweak and sometimes change the elements that you’re not so good at.
Jay: Is that responsibility easier being that it’s your company and you can decide who needs to be hired?
Mike: In a certain way you’re correct, but at the same time like many entrepreneurs I have a hard time shifting the responsibilities to other people. To be honest Jay, I have a controlling personality and being that this company is my passion it’s tough to find the right candidates that match the drive that I have.The most important thing is to realize that without the right delegation your business will never grow properly and in fact you’ll be getting in your own way, stunting your growth as a leader as well the growth of the company.
Jay: What are some of the ways you market the WUNDER2 product?
Mike: Today’s marketing platform gives entrepreneurs the ability to market their products literally around the world. At the same time it’s a challenge to make sure your company’s advertising campaigns doesn’t get lost into the social media orbit. While we can’t monitor every ad, we use a variety of different options to judge who’s reading our ads, how long an ads effect lasts, how many new customers the ads bring in and compare them to previous campaigns.
Jay: What are some of the practical strategies you use to monitor how much attraction your ads receive?
Mike: We run both print ads and digital ads and each one needs a different approach. In a certain sense, the digital ads are easier to track as you can see exactly when people view your ads, if and when they click on it, their location and much more. It becomes a little more tricky with the print ads but with some creative ideas we’ve been able to get an accurate read on our advertising efforts. For example: When we leave our phone number on our ads we’ll use a separate number for each campaign and we’ve even gone so far as creating separate websites, that way we get a real number count of how many viewers are responding to the ads. Additionally, with TV ads we can track so many details including how many phone calls we received within 15 minutes of when the ad rand. The main thing in any advertising campaign is to collect as much data as you can and always use it to compare with previous campaigns so you can a real sense of what’s working and what’s not.
Jay: One of the main marketing points you use is the fact that WUNDER2 products can be applied and the customer then sees results in under 2 minutes. How has the “instant gratification” generation responded to that?
Mike: Great point Jay, and the generation of the last 15 years have been trained to receive everything they want. For better or for worse it’s the reality and so while we cater to anyone from the age of 22 to 65 it has been a tremendous leverage point for us to be able to provide our product in such a way that customers can see their return really quickly. While just a decade ago it was normal for someone purchase a product and not get it for another week, with the advances of tech and logistics that concept has been completely shattered. People shop on Amazon Prime and can get what they want in just 2 hours! For any entrepreneur it’s important to understand what generation we’re living in and to build their products and services around what your consumers want.
Michael Malinsky is the Co-Founder and President of KF Beauty which has recently broadened their scope with the unique WUNDER2 brand. Their aim is to deliver visible beauty results in just 2 minutes. As the #1-selling color cosmetic brand on Amazon, WUNDER2 has finally launched Stateside after seeing such amazing success in the UK.