01. 3 Things I learnt working for global brands including Ralph Lauren, Kate Spade and Burberry

The Commerce Club Podcast

In case we haven't met yet I'm Sophie Biggerstaff, founder of The Commerce Club and BYRCOLLECTIVE & I've spent the past 12 years working in the retail industry for brands including Ralph Lauren, Diesel, Kate Spade and Burberry.

In that time naturally I've learnt a thing or two about how to run a product business and I want to share my best tips with you...

In today's episode I share 3 most of the most important things i learnt during my time working in industry which were:

1️⃣ Never make assumptions!

As an insider in your business it’s easy to assume because you know everything about your business that everyone else does as well, but 99.9% of the time that is definitely not the case!

Never assume that because you have a link to your website in your bio that your audience knows where to go to buy, never assume because you put a picture up on your social media that your audience knows that it’s for sale, never assume because you like the colour pink that that’s your customers favourite colour, never assume that because you know you sent the order that your customer knows it’s on it’s way as well.

Over communication & validation of your assumptions is never a bad thing when running a product based business. To get the best results always act like the person you are speaking to knows nothing and you can educate them on everything they need to know to ultimately make the conversion.

2️⃣ All the answers you need are in the data!

I’ve said this a few times in the past, but everything you need to know to make informed decisions in your business is in the data from your sales!

If you’ve built your store on Shopify, run with a POS system, or linked you wesbite to google analytics you have data to analyze and use to make any new decisions in your business.

You should have access to your traffic, conversion, best sellers, profit margins etc - all of which should be key performance indicators in your business that you can review regularly & use this data to see where you need to take action to drive the results you want.

3️⃣ Your business is not about you, it’s about your customer!

It’s easy to focus on what YOU want when you’re running a business, but ultimately you are probably not the person that is going to be buying your product.

So every decision you make, you need to get out of your own head and in to the head of your ideal customer. Will they resonate with the product or content you are putting out?

Because if the answer to that is no, then this is going to be an issue when it comes to making sales!

So these are the 3 things I recommend you take a look at how you are doing in your product business. If you enjoyed this episode and want to hear more about my career in the industry or get additional tips on setting up and running a product based business make sure you subscribe and like this podcast!

You can email me [e-mail]
You can follow me & DM me on instagram @byrcollective
You check out my website & find out more about what I do here...
www.byrcollective.com
www.thecommerceclub.co