Latest / The Dr. Randi Show / Inside the NewBeauty Machine: Data, Disruption & What’s Next – Mike Glaicar

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Inside the NewBeauty Machine: Data, Disruption & What’s Next – Mike Glaicar · The Dr. Randi Show

• 0:03
  The views expressed in this podcast are for informational
• 0:06
  purposes only and do not constitute medical advice.
• 0:09
  This episode of The Doctor Randy Show is proudly sponsored by New
• 0:13
  Beauty, the ultimate authority in beauty and aesthetics.
• 0:17
  Whether you're. Looking for the latest
• 0:18
  innovations, expert insights or trusted recommendations?
• 0:22
  New Beauty is your go to source. Visit newbeauty.com to stay
• 0:26
  ahead of the trends and discover what's next in beauty.
• 0:29
  Now let's get into the episode. Hello everyone, and welcome to
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  the Doctor Randy show. We have a very special guest
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  today. We have Mike Lakar, the CEO of
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  New Beauty and he is going to share with us all of the
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  exciting things that are happening at New Beauty.
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  Mike, we are thrilled to have you here today.
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  I'd love for you to introduce yourself to the listeners.
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  Yeah. Thanks, Randy.
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  Thanks for having me. So again, Yeah, Mike Lakar from
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  New Beauty. We've had exciting time here at
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  New Beauty, lots going on. So I'm excited to talk about
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  that. I've been with the organization
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  for about 6 years now. And recently we've been
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  acquired, which we'll talk a little bit about, but very
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  exciting times overall. Awesome.
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  So I get the privilege of working with Mike every day.
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  And now you'll get the inside scoop about what it's like to
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  work with Mike and talk to Mike. He's excellent to work with.
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  He's warm, he's brilliant. So excited to hear what he has
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  to share about New Beauty. All of the buzz, as I'm sure the
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  entire industry has seen that we recently had a press release
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  that we were acquired by MJH Life Sciences, the largest
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  publisher in North America. It's not the world.
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  I'm not sure, but Mike can speak to that.
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  So that's been so exciting and so many opportunities coming for
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  New Beauty. So, Mike, I'd love you to tell
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  the listeners about that. Yeah, very exciting times, as I
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  mentioned. So we were acquired about a
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  month ago officially by MGH Life Sciences.
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  And yes, they are the largest privately held medical
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  communications company in North America.
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  They've really specialized in educating healthcare
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  professionals across a number of different specialties.
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  Oncology mean that being their largest, but dermatology as a
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  key therapeutic area as well. I had the privilege of actually
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  starting my career at MGH Life Sciences for an organization
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  called Pharmacy Time. So this is a bit of a coming
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  home for me. But when this opportunity came
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  up, New Beauty, we've done a phenomenal over the past 20
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  years and I don't take credit for that.
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  That's our amazing content and editorial team and and that
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  business team. But we've done an amazing job of
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  educating consumers and we've always wanted to, since I joined
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  the organization, shift a little bit more into educating and
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  helping provide value to the provider side.
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  So with this acquisition, that's what MJH does.
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  They're all about educating and communicating with providers.
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  And so it allows us to ramp that side of the business up quickly.
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  Excellent, excellent. Mike, I think that you're not
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  giving yourself enough credit because I think you are the
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  driving force behind New Beauty and I personally get to witness
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  it every day. But I think that when people get
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  to see what we're going to be doing with this acquisition,
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  it's going to be exciting. So one of the topics that I'd
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  love to talk to you about today is Beauty Engine.
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  The industry probably sees the post that I put out on a weekly
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  basis for data within our industry on the provider side,
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  on the patient side, all kinds of industry keeping our on the
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  pulse, which is why we call a Beauty Engine Pulse.
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  But Mike, you are the mastermind behind Beauty Engine, so I'd
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  love for you to tell us about it.
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  Yeah. Beauty Engine has been a bit of
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  a secret weapon for New Beauty over the past four years.
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  And what we realized in this industry is that there are
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  there's a lot of data out there, but it's very disparate.
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  And so at times you'll hear patient stories from one
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  provider that don't match patient stories from another
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  provider. You have a couple people here, a
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  couple patients there and we thought there was a big
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  opportunity for us to consolidate that information and
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  bring it into one spot. With that, we had a program
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  called Beauty Pass. We still do.
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  It's an invite only membership for consumers who want to try
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  beauty products, skin care, in office skin care products,
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  things like that. And we married the two together.
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  So we have 90,000 consumers in this panel across the United
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  States. We realized how engaged they
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  were because everyone that we can contact the SMS and we
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  started testing out, can we do studies here there?
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  Will they respond? And we have a phenomenal
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  response rate. It ended up being about 60 to
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  sometimes 70% response rate. And so about four years ago, we
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  started asking questions to the consumer things like what
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  treatments and procedures they're looking to have and what
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  trends they're looking at and where do they find information,
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  how do they want to be treated and how do they want to be
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  marketed to. And we started putting that into
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  a presentation and a printed material called the State of
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  aesthetics. Many providers have seen that.
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  But since then, we've really ramped up the Beauty Engine
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  business and we are doing some incredible partnerships across
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  the board, everyone from large manufacturers to startup beauty
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  companies. And the big goal for most of our
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  partners is to glean insights directly from the most engaged
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  and educated aesthetic consumer across the country.
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  As an example, Gal Derma Aesthetics is a great partner of
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  ours and we applaud them so much for taking such a leadership
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  role in working to help add value to the providers.
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  So obviously Gal Derma Aesthetics has amazing products,
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  but how do they go above and beyond that is by really working
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  to get education, training, and additional resources to their
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  accounts. So they partnered with Beauty
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  Engine this year for a number of studies.
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  We actually, you just started rolling those out and incredible
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  topics like what's going on with GLP ones, what's the state of
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  fillers, How is regenerative medicine changing and what's the
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  perception in the market? We have thousands and thousands
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  of consumers that responded to that data and now we get to
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  provide that to the end provider and help them give the best care
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  to their patients. So that's so different in the
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  data world is booming and you've got your finger on the pulse of
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  data here at New Beauty. And it sounds like you've been
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  working with several of the largest manufacturers to provide
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  them with data and insights that allows them to make very
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  important business decisions, right?
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  Like what they're going to do with their products next and how
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  things are being received. I think that's amazing.
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  What are the capabilities when using Beauty Engine?
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  What type of surveys can you create for these manufacturers?
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  So we kind of have a wide range. When you think about it, you
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  have 90,000 aesthetic consumers who are very engaged.
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  If we want to get 500 or 1000 responses, let's say 1000
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  responses to a study, we might text 1500 to 1700 people, right?
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  We don't need to exhaust this list.
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  And I think market research in the past has been very difficult
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  because if you wanted 1000 responses, you had to reach out
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  to 100,000 people and hopefully you would get to that number.
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  But because our group is very engaged and they want to give
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  feedback and it allows us to run a lot of studies, three to five
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  studies days a week at this point and get that data back.
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  How it's being used is different depending on the partner.
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  Even on the product side, I think the challenge we've seen
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  in beauty for a long time is we've seen a lot of products be
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  developed by a small group of whether it's a cosmetic chemist
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  and a few executives in a boardroom, and they try and put
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  that out to millions of consumers, right?
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  It's this triangle model. The challenge with that is that
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  sometimes the guest just misses, right?
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  It's a kind of a guess and check approach.
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  So we've flipped that on it's head a little bit and we call
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  this more of an hourglass model where we get thousands and
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  thousands of consumers at the top to provide their feedback on
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  ingredients and packaging and types of products they're
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  looking for. And then that data is distilled,
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  brought into those five executives that might be sitting
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  in that boardroom to develop the product.
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  And then it goes back out to the millions of consumers.
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  So we're doing that with a lot of partners now.
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  And that's everything from doing studies to get feedback to
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  actually getting the product in the consumer's hands, pre
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  market, getting reviews from them, getting initial packaging
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  feedback, things like that. And we hope that becomes the
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  gold standard moving forward instead of just this guess and
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  check. We hope this product hits with
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  the consumer. I think we should put more value
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  on the consumer. The consumer knows what they
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  want, they know what's trending, they know what their skin type
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  specifically may need. And we get that information to
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  get it right back to the manufacturers.
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  Absolutely. So on the side of data, would
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  you mind sharing with us a little bit of the trends that
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  you're seeing? I think I've seen obviously your
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  podcast, there's a lot of talk around GLP ones.
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  That's going to continue to be the talk.
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  And for us, what's interesting is we have about a third of our
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  audience now that is either on GLP ones or has taken GLP ones
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  in the past. It's a huge number and we've
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  seen that steadily increase. What we've seen specifically
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  with GLP one patients is that we thought initially there was
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  going to be you take the GLP one medication, you get off of it
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  and we talked about post GLP one aesthetics.
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  That's not really happening anymore.
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  There's not really any post GLP one.
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  We may have patients that titrate back, but they're still
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  micro dosing in some capacity. And So what that means for us is
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  as an industry, we have to think about how do we treat patients
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  during their GLP one process and how do we make sure that we're
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  providing holistic care and not just saying, hey, wait till
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  you're done with the weight loss medication and then we'll treat
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  you. I don't want to spoil some of
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  the data because the Al Derma is sending this out and doing a
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  great job with that. But just as a bit of a high
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  level, in some of the studies that we saw with them on the GLP
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  ones, we noticed that there was actually new consumers coming
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  into the aesthetic space that hadn't been before because
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  they've lost weight. They were feeling better about
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  themselves, and now they were starting to think about
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  aesthetics for the first time. In addition to that, there's so
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  much in terms of skin laxity and skin texture and skin quality
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  concerns that's happening with GLP ones.
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  And we got a lot of feedback from consumers who said, I wish
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  I would have started aesthetic treatments and procedures
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  earlier because now I've lost 30 lbs, I have skin laxity, and now
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  I have to try and address that at this point.
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  And being proactive instead of reactive is what we're really
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  promoting into the providers at this point.
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  So there's data like that we're seeing in terms of trends,
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  another huge trend that we're seeing for 2025 is this trend
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  that we're calling invisible aesthetics.
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  So less of enhancement. I want to enhance certain
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  features and a little bit more of that natural look where your
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  friend or family might say I don't know what you did, you
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  look great. I don't know what you did, I
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  can't put my finger on it, but you look great.
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  Instead of what I think happened probably five years ago where it
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  was I want to enhance my cheeks or I want to enhance my lips.
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  Now it's more of that facial balancing and more of that
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  natural look that consumers are looking for.
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  Yeah, I agree. I think that natural look is so
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  important and I think there's been a big shift for that.
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  So those are some great trends and thank you for sharing that
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  with us. In addition to Beauty Engine and
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  is there anything else you want to share with us about Beauty
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  Engine or how somebody could find out more about Beauty
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  Engine? I think for us, listen, the
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  industry has done an incredible job of taking advantage of this
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  and we're working with a lot of the major players across the
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  board and seeing the value of reaching out to consumers,
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  right? Long gone are the times where
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  companies are discounting the opinions of consumers.
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  I think they see that value and fortunately we have some great
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  partnerships there. But no, it's just encouraging,
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  whether it's providers, whether it's manufacturers tap into the
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  consumer, get this data first, stop the guests and check and
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  then proactively use those insights to change the way that
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  you ultimately treat and serve the patient.
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  OK. All right, great.
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  We look forward to hearing more about Beauty Engine and I
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  promise to keep posting about it.
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  So we'll keep putting that data out there for the industry.
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  So what else is on the horizon for New Beauty?
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  I think with MJH, there's a lot of a lot of things that we're
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  ramping up quickly and a lot of it is centered around the
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  provider, right? Ultimately, the amazing
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  providers that we have in this industry are the lifeblood of
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  everything that we do here. And without those providers,
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  none of this industry exists. So our goal is to make sure that
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  we're providing as much information as we can to the
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  aesthetic provider, but also we're trying to work to get Kols
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  and leaders within dermatology and plastic surgery and the Med
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  spa space and get them together and some of these smaller custom
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  events where we can have more knowledge sharing across the
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  industry. MJH is doing an incredible job
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  with that close to 1800 events they run every single year
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  across specialties. So we're taking those
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  capabilities and ramping it up in aesthetics.
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  And I think from the providers we've spoken to so far, they
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  really enjoy getting together and sharing best practices.
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  And I think sometimes we can assume that, you know, there's
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  enough information out there and everybody knows what these best
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  practices are, but that's usually not the case.
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  In fact, in the small events that we've done so far, we bring
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  these providers together. It's amazing how much knowledge
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  sharing goes on where you have a provider who might have 30 years
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  experience and they're still learning something brand new
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  from another provider who maybe even has less experience.
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  So we'll be rolling those events that we're really excited about
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  across the country, and then from there, taking all those
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  best practices and taking that knowledge and then disseminating
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  it back out to all the providers across the country.
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  And I know you and I are working on a lot of different campaigns
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  there. Yes, excited to see what you
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  come up with. As the CEO of New Beauty.
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  What would you say your top three focuses will be for the
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  rest of the year? So data is number 1 and it has
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  been for some time. So ramping up beauty Engine,
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  it's the fastest growing division of our business.
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  I think it will likely in the next two to three years be
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  larger than the remainder of our entire media business.
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  It's growing that fast. So we're excited about that.
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  The second piece, are these events, right, bringing the
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  provider into the fold for these events and just really getting
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  to know what they want most from New Beauty.
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  We're never, we'll never turn our back on the consumer.
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  That's been our focus and it's always been our mission to
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  educate consumers to make the best beauty choices for them.
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  We'll continue to double down there, but I think on the
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  provider side, that's where we're going to ramp up efforts
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  as well. And then lastly, I'm very proud
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  of what we've done in New Beauty over the past 20 years.
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  And I think it's very difficult in the media space that holds so
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  much credibility, especially in the space that we're in.
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  Aesthetics, I think DBD has done a great job with that.
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  And Robert Singer and Marc Jewel and our entire board have really
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  held us to a very high standard. So even if we wanted to stray
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  from it, which we don't, we couldn't anyways, everything is
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  so vetted. But because we have that
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  credibility now, print is in a funny spot.
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  Print is having a bit of a resurgence.
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  And some of you may see that a lot of publications are actually
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  coming back in print when they maybe have had to shut down
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  their print divisions in the past.
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  What we're doing now that we're extremely excited about is we're
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  allowing providers to get new beauty directly into the hands
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  of their patients and prospects. And we've built a back end
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  portal that allows us to upload first name, last name and
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  address of the contact that the provider would like to send to.
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  And we can do all of the heavy lifting there and send that
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  directly to that end consumer with a customized letter from
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  the office. So what that might look like is
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  you might have a physician who says, OK, I have 4000 patients
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  in my database in my CRM and two thousand of those haven't been
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  in, in the past six months, but have spent over $5000 with me
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  lifetime. That's maybe like a risk lapsed
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  user. And so let's send them a copy of
• 14:21
  New Beauty every quarter with a custom letter that's welcoming
• 14:24
  them back into the office saying that you're getting this copy of
• 14:27
  New Beauty because you're a patient of Doctor Smith.
• 14:30
  And by the way, here's a new device that we're offering and
• 14:32
  maybe a promotion with that. So we just started rolling that
• 14:35
  out. It's been an incredible program
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  so far because it cuts through the noise of digital and there's
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  nothing wrong with digital, but we we're also inundated all day
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  with digital messaging. So to receive new beauty at your
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  home with a custom letter that's very feels very personal from
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  the office is something that we are ramping up.
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  And the goal is to have thousands of providers across
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  the country sending this to thousands of their patients
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  each. And that that creates an
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  incredible circulation for us above and beyond what we already
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  have to disseminate more of our information.
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  I think that program is phenomenal.
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  Nobody else is doing it, and I think that providers are going
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  to really enjoy that because it's outside of the box for
• 15:14
  traditional marketing. And I think who doesn't want a
• 15:17
  copy of New Beauty? For those of you who haven't
• 15:20
  seen the book, it's beautiful. It's glossy, it's thick, it's
• 15:23
  something that after you read it, you want to put on your
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  coffee table. I think that it's a beautiful
• 15:28
  gift and I love that you've spearheaded that program.
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  I think the editorial team, again, going back to sing their
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  praises, does such an amazing job.
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  And so when you have a, and thank you for calling it a book
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  because we don't call it a magazine, it's, it's truly is,
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  it's more of a coffee table book than anything.
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  When you have a book that's 150 to 200 pages of fully vetted
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  aesthetic content and beauty content, then the task and the
• 15:49
  obligation is how do we get this into as many hands as possible
• 15:51
  to help educate the consumer? So this is an amazing way to do
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  it. And I think it's akin to, if you
• 15:56
  look at the logistics, it's akin to a postcard campaign, but
• 15:59
  instead of a $0.25 postcard, they're getting A $13 valued
• 16:03
  issue of New beauty with customized messaging directly
• 16:06
  from the office. So we're excited about that as
• 16:07
  well. It's such a hot item.
• 16:10
  If you don't mind me flashing back to when I started with New
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  Beauty almost two years ago, I remember scouring the stores
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  here in Boca Raton looking for a copy because I wanted to hold it
• 16:20
  in my hand and be able to talk to you.
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  And it was sold out everywhere, right?
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  And all the magazine racks were filled and what was gone in
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  every store was New Beauty. So I think that's a testament to
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  how the consumer feels about New Beauty Book.
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  Yeah, it's funny to say that because we do have a custom
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  distribution through about 250 private airports across the US
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  and that's an amazing program through a company called Media
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  Jet and allows us to have that distribution.
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  New Beauty is always the most taken magazine from private jet
• 16:48
  travelers across the country. And I think the reason why is
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  it's all credible embedded information, but it's digestible
• 16:53
  enough for the consumer where they understand it.
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  But it's not so basic that it feels like we're dumbing down
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  the content. And I think we've had a nice mix
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  with that. And the goal is now just to
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  continue ramping that up. I'm sure you'll continue.
• 17:07
  This latest issue is so beautiful, so Congrats on all of
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  that. Is there anything else that
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  you'd like to share with us about new beauty, What's coming?
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  What's on the horizon for the rest of 25?
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  Or even what's coming up for 26? Yeah.
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  So again, events are a big thing for us.
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  So we do have a big event coming up in November in New York City
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  called DD Pass Live and we'll have, you know, over 600
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  attendees there, consumers and providers.
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  I think the big thing is we want providers specifically to start
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  really leaning on us, asking us for data that they're that they
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  want to know about using us as that source of truth, especially
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  with our access to these consumers.
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  And we are here to serve ultimately as a media company
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  and education company, we're here to serve.
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  We want to serve the patient. We want to serve the provider
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  and obviously our partners as well in the manufacturing side
• 17:50
  and help them get their messaging out there.
• 17:52
  I think the aesthetic industry is in an interesting spot right
• 17:55
  now. Of course, I talked about the
• 17:56
  trend with GLP ones. That does have a cost in some
• 17:59
  capacity right now, consumers are spending money on GLP ones.
• 18:03
  There may be reduced spending in some areas, although our data
• 18:05
  shows that it's been fairly consistent in aesthetics.
• 18:08
  But I think it's our job now in the industry to provide more
• 18:11
  value than we ever have in the past.
• 18:13
  And one piece that I'll just end on the data side with that we're
• 18:16
  seeing is that the patient experience has now become just
• 18:20
  about even with patient results as far as aesthetic treatments
• 18:24
  and procedures. And we used to use the KPI as
• 18:26
  the results as the main thing. So if a patient went in and they
• 18:29
  didn't have the best experience, but they had amazing results,
• 18:31
  that was acceptable. What we're starting to see now
• 18:34
  is that amazing results are table stakes.
• 18:36
  That's just that needs to be the standard.
• 18:38
  We need to have an amazing experience for the consumer and
• 18:40
  they need to feel valued and they need to be treated that
• 18:43
  with respect and feel like this going in for aesthetic treatment
• 18:47
  or procedure is really almost like a bit of a holiday or
• 18:49
  vacation for them, right? And I think that's what's
• 18:51
  exciting, the exciting opportunity that we have.
• 18:54
  We had about 77% of consumers who said that their biggest turn
• 18:56
  off that they've had is they had a negative interaction with the
• 18:59
  physician in terms of their bedside manner.
• 19:01
  We look at that data and we say, Oh my gosh, this is something
• 19:04
  that's easy to fix because it's free to fix.
• 19:06
  It doesn't cost any more money to treat your patients the right
• 19:10
  way and treat them with respect. And so we are doing a lot of
• 19:12
  training now the providers on, on that whole patient experience
• 19:16
  and allowing the manufacturers of course to do the training on
• 19:18
  the patient outcomes, but we're doing a lot more of that
• 19:20
  training on patient experience now.
• 19:23
  Wow, There's a lot going on in New Beauty this year.
• 19:25
  So thank you, Mike, for all of that exciting information.
• 19:30
  And before we wrap up, just want to make sure if there's anything
• 19:34
  else to share, we're going to invite you to do our speed round
• 19:37
  in just a couple of minutes, but is there anything else we want
• 19:40
  to close with? No, I think just a big thank you
• 19:44
  overall to the aesthetic industry.
• 19:45
  It's been 20 years for us to have this acquisition go through
• 19:48
  is a big milestone for us, but it's just the beginning and it
• 19:50
  allows us to really lean on MGH as resources internally.
• 19:53
  It's a large company, but 1000 employees to ramp up quickly.
• 19:57
  But a big thank you to the industry for supporting us, to
• 20:00
  the readers and consumer for continuing to read New Beauty
• 20:03
  and tap into us for information, and ultimately for the providers
• 20:06
  who have always been there and had our backs.
• 20:08
  And we love quoting all of you. We love supporting you in any
• 20:11
  way we can. And we'll continue working hard
• 20:13
  every day to do that. Great.
• 20:15
  Thank you so much, Mike. We appreciate you joining us
• 20:18
  today. And for the viewers and
• 20:20
  listeners, thank you so much. We're going to take Mike into
• 20:23
  the speed round and we'll see everybody soon.
• 20:25
  Thanks everyone. Hello everybody.
• 20:32
  We're back at the Doctor Randy show and we have Mike Lakar, the
• 20:35
  CEO of New Beauty and we're going to take Mike through the
• 20:38
  CEO Speed round. So Mike, if you are ready, we're
• 20:41
  going to ask Rapid Fire with a bunch of questions and we are
• 20:45
  excited to hear your answers, OK?
• 20:47
  Let's do it. All right, books are podcasts.
• 20:51
  Traditionally podcast but I've started doing more on the book
• 20:53
  side and I've been loving it so far.
• 20:55
  OK ChatGPT in or out? Big in.
• 21:00
  OK, how much do you use ChatGPT? Oh, ten times a day, I would
• 21:05
  say. All right, morning person or
• 21:08
  night owl? Morning.
• 21:11
  Remote work in or out? I see both sides, but we are in
• 21:16
  at New Beauty. OK, LinkedIn or Instagram?
• 21:20
  LinkedIn. Inbox 0 or Inbox Chaos?
• 21:26
  Chaos has been my entire life with my inbox.
• 21:28
  Fortunately, I have literally the best executive assistant in
• 21:32
  the world and she has got me back down to Inbox 0, which is
• 21:34
  nice. It's the worst.
• 21:37
  Mine is always chaos too. All right, Coffee or tea?
• 21:40
  Coffee. How many cups a day?
• 21:43
  2. All right, not bad strategy
• 21:46
  sessions, early morning or late night.
• 21:49
  End up being late night generally.
• 21:52
  Risk taking calculated or bold? That's a tough one, generally
• 21:59
  somewhat calculated, but not to try not to overthink things too
• 22:02
  much. Office pets yes or no?
• 22:05
  Yes, let's do it. Four day work week, Dream or
• 22:09
  disaster? Disaster.
• 22:12
  Company retreats, productive or just a big party?
• 22:16
  I think they can be productive. Dress codes outdated or still
• 22:20
  relevant? Somewhat outdated and we try and
• 22:23
  keep some level of dress code but not too fancy.
• 22:26
  Zoom meetings convenient or draining?
• 22:30
  They were convenient. They are draining at this point.
• 22:34
  Agreed. Agreed.
• 22:35
  I think there's a place, all right?
• 22:37
  Team building exercises, effective or awkward?
• 22:41
  Effective. Coffee meetings essential or
• 22:44
  overrated? Essential.
• 22:47
  All right. That's our speed round, Mike.
• 22:49
  Excited to share that with the world.
• 22:51
  They got a little inside sneak peek into Mike Glaycar.
• 22:54
  Thanks for joining us, Mike. Thanks for having me, Randy.
• 22:58
  Doctor Randy Boyett holds a PhD and is a recognized leader in
• 23:01
  the aesthetics and medical industry.
• 23:03
  She is not a licensed medical doctor.
• 23:06
  All commentary and product recommendations are based on
• 23:09
  industry expertise and are provided for informational
• 23:12
  purposes only.