0:00

Everyone has a reason to change.

0:02

Growing old, heartbreak, a fresh start.

0:04

Whatever it may be, Peloton is

0:06

here to get you through life's

0:08

biggest moments, with instructors and speaker

0:10

language and workouts that move to

0:12

your own rhythm. Peloton's tread and

0:14

all-access membership help you set your

0:16

targets, track your progress, and get

0:18

stronger. Making your fitness goals a

0:20

reality. Find your push. Find your

0:22

power. Peloton. Visit One Peloton.com.

0:24

In my early days as an

0:26

advertisizer, running commercials on TV was

0:28

guesswork. I knew TV was powerful,

0:30

but it was impossible to see

0:33

which ads truly worked. So I teamed

0:35

up with the best data scientists

0:38

to create a better way to buy and

0:40

measure TV ads. Tatari was

0:42

born. Today, hundreds of brands

0:45

and agencies used Tatari and

0:47

we helped them optimize with

0:49

metrics that actually grow the

0:52

business. Learn more at Tatari.

0:54

TV. Welcome

1:05

to the Lazy C.O. podcast. I'm

1:07

Jay Lu. Join my conversations with

1:10

the entrepreneurs behind the iconic brands

1:12

we all know and love. Hey

1:14

potty fam, welcome to our new

1:17

Help My Small Business miniseries. So

1:19

basically we're getting video submissions by

1:21

TikTok from small businesses on where

1:23

their pain points are for the

1:25

business and what they're struggling with.

1:27

And my guest and I will

1:30

share our insights and advice on

1:32

it. So call it a mini

1:34

mentoring session. If your business needs

1:36

help, post a video submission on

1:38

TikTok and email us at hello

1:40

at the lazy CEO.com just to

1:43

ensure that we don't miss it.

1:45

Tune in every Thursday of the

1:47

next few weeks for our help

1:49

my small business specials and of

1:51

course we have our regular interviews

1:53

on Tuesdays with special guests every

1:56

week. Help. I need business advice.

1:58

Let's get down a business. Well

2:00

I need your advice on official business

2:02

now. Hi Jane. My name's Eliza and

2:04

I'm the founder of Glen Theory Cosmetics,

2:06

a luxury makeup brush brand without the

2:08

price point. I founded this brand during

2:10

COVID. Because like you, I am born

2:12

an entrepreneur and I literally cannot sit

2:14

still on the couch. And really needed

2:16

something to focus on during lockdowns. I'm

2:18

a makeup artist myself and I wanted

2:20

to bring to market brushes that empowered

2:22

my customers to create salon level results

2:24

at home. Jane you may be the

2:26

lazy CEO, CEO, but I am the

2:28

lazy makeup artist and I need a

2:30

brush that's going to do the job

2:32

for me. lot of success with the

2:34

brand. We've been featured in Style magazine

2:36

and Yahoo L lifestyle having our brushes

2:38

used by a lot of prominent makeup

2:40

influences. But I haven't made the Forbes

2:42

30 under 30 list yet and that's

2:44

where I need your help. I dream

2:46

big and although we have been getting

2:48

amazing results with our traffic to our

2:50

site our conversion rate is still sitting

2:52

below 1% every single day. So please

2:54

Jane we need your secret source advice

2:56

for how to improve our conversions. You've

2:58

already had incredible success getting into those

3:00

magazines, giving the traffic. Congratulations. Yeah. So

3:02

we make up letters. That's really cool.

3:04

Let's talk about how we can get

3:06

that conversion up. I'll let you kick

3:08

it off, Corvin. Thanks, Jane. So your

3:10

conversion rate is a number of things.

3:12

I mean... Do you know who the

3:14

audience is who's buying your product? So

3:16

that's one thing really important. Make sure

3:18

you can figure out exactly who your

3:20

customer is. What does he or she

3:22

do where they're shopping? What the price

3:25

point is? Is it the right price

3:27

point? Are you selling the right product

3:29

for that right customer? That's my first

3:31

thing I'd do is figure out who

3:33

that is. Secondly, do you have the

3:35

right optimisations on your site? Like your

3:37

conversion rate means that you could be

3:39

having the wrong traffic sent the wrong

3:41

traffic sent through, so the wrong audience

3:43

to be buying. Hence why they're not

3:45

buying. Hence why they're not buying. or

3:47

they're struggling to see on your site.

3:49

They look at the site and go,

3:51

okay, I don't want to purchase from

3:53

here or I don't know where to

3:55

purchase. There's so many different factors to

3:57

that. So I would optimize the site,

3:59

maybe have a quiz going, pop up

4:01

for 15% off, the first order, little

4:03

bits. and pieces you can change really

4:05

quickly to improve the conversion rate, super

4:07

quickly. Summarizing what you're saying, basically, I

4:09

mean, your conversion rate is a function

4:11

of the traffic and the actual sales.

4:13

So it's weather, like you said, the

4:15

actual traffic that's been set. It's the

4:17

wrong customer. Yeah. Is it the right

4:19

one customer? That's the first thing. It's

4:21

done to my mind. During our interview,

4:23

you were saying how the moment that

4:25

you realize that. your customer isn't a

4:27

19-year-old girl, it's more a 40-year-old mom,

4:29

50-year-old mom, that just revolutionized the growth

4:31

of your business. So finding that right

4:33

customer to get traffic from in the

4:35

first place. And then sometimes there's more

4:37

than one customer, as I mentioned, too.

4:39

We have millennial moms, too. There's more

4:41

than one customer. There's more than one

4:43

customer. There's so much you can do

4:45

in terms of like website conversion rate

4:47

optimizationization. I'll get into that because I

4:49

think it gets quite specific for her

4:51

website. For more broadly speaking, the thing

4:53

that probably will impact your website more

4:55

than just the little conversion rate optimization

4:57

bits you can do, which you touched

4:59

on, is pricing. And I think her

5:01

pricing is quite high for just for

5:03

what you can, what you Google. Right.

5:05

So me Googling what makeup brushes costs

5:07

because I'm using. all show pro ones

5:09

we had from like that we don't

5:11

we don't sell makeup brushes anymore when

5:13

we used to have a beauty category

5:15

like how to Google and it's quite

5:17

more than just what's on Google shopping

5:19

it's premium which is fine because that's

5:21

there's a marker for it but perhaps

5:23

again you're not getting the premium traffic

5:25

coming in. Correct. Also just went on

5:27

Mecca to Google what their general pricing

5:29

is. And Mecca is not like, Mecca

5:31

is not price line, right? And even

5:33

that pricing is quite high compared to

5:35

a Mecca. So I would look at

5:37

one, do you want to stay at

5:39

that price point? If you want to

5:41

say at that price point, then you're

5:43

going to have to brand your product

5:45

for that premium nurse. Like what can

5:47

you do for the brand to really

5:49

get that elevate? Like, get the- Who's

5:51

wearing it? Are they the people that

5:54

people that understand? Are they the people

5:56

that understand? because I don't really understand

5:58

what the difference is. The website itself

6:00

can be. clearer on what that difference

6:02

is. Yeah. Three second rule, right? Like

6:04

what are you selling? Exactly. Why don't

6:06

you eat it? And what is like,

6:08

what is that basically? Exactly. On the

6:10

flip side, do you actually look at

6:12

dropping your price and finding a cheaper

6:14

supplier? Like, maybe, you know, if you've

6:16

kind of validated your marketing works, I

6:18

always say, start with like a low

6:20

MOU, even if it means your product

6:22

is more expensive, just validated, just validated,

6:24

you can get traffic, nail the marketing,

6:26

you just need to convert, can you

6:28

get a higher MOU, so minimum order

6:30

quantity, can you bring the price down

6:32

and then sell to a more mass

6:34

market? Love it. And then also once

6:36

you build your brand, people know about

6:38

it, then you can start looking at

6:40

price increase. You know, like once you've

6:42

got a brand, go, okay, cool. He's

6:44

a new range out that has features,

6:46

I don't know, I don't know, I

6:48

don't know, much about Macap brushes, myself,

6:50

myself, and it, and it does... more

6:52

than one thing. What else can a

6:54

makeup brush do that's not been done?

6:56

Can I do more than one thing?

6:58

Can I obviously do contouring, I don't

7:00

know, blending makeup, but can it be

7:02

a special device that you can bring

7:04

out with it that comes as a

7:06

GDP that washes it or something, like

7:08

I don't know, or some sort of

7:10

product with it, so there's so many

7:12

different other things that can be done.

7:14

So, and in terms of like the

7:16

actual website conversion, I know it's hard

7:18

to like. anyone broadly should be doing

7:20

about fixing this kind of addressing this

7:22

problem so actually when you go on

7:24

to the website the home page landing

7:26

page goes into one specific product okay

7:28

rather than the category page now unless

7:30

you have I you should always I

7:32

think go I mean you can test

7:34

it but like you know the show

7:36

pro website it goes into a category

7:38

you goes into either your bestsellers or

7:40

your new arrivals depending on your scoo

7:42

count depending on you have new arrivals

7:44

you have new arrivals so you have

7:46

new arrivals so basically if you just

7:48

go into this website going into just

7:50

one product like that's not people are

7:52

just looking at this one brush like

7:54

I don't think that's going to optimize

7:56

conversion also from the home page you

7:58

actually can't in the hamburger menu, which

8:00

is the left hand menu on desktop.

8:02

You actually can't click into the categories.

8:04

You have to click into the product

8:06

in the categories. So I think there's

8:08

an actual glitch. What you should do

8:10

is for everyone playing along at home

8:12

with any website you have. actually do

8:14

user testing. And you just got, you

8:16

don't even need to go and get

8:18

professional, just get a friend and just

8:20

be absolute silent and watch them or

8:23

even even zoom call where they share

8:25

screen and you go and give them

8:27

an occasion like you're looking to buy

8:29

this like I will be like you're

8:31

looking to buy white lace pants to

8:33

go to Coachella and you want to

8:35

get it like. yesterday. So like

8:37

what would you do? And you watch

8:39

how they navigate your website and things

8:41

that you think are so intuitively easy

8:43

because you stay at your website every

8:45

day. People don't. People don't. And then

8:48

you're going to and then do that

8:50

with a few people and then you're

8:52

going to really learn a lot. So

8:54

I really think a lot is to

8:56

do with the websites. being difficult to

8:59

navigate. But I will congratulate her on

9:01

like everything looks beautiful. The content like

9:03

the imagery looks beautiful, the website. Really

9:05

cool features where some of the viral

9:07

videos can be accessed on the product

9:10

page. I'm like, fuck, man, I wish

9:12

I had that on my website. We're

9:14

going to look into that. I will

9:16

be sealing that. That's great. There's so

9:18

many things you're doing incredibly well. But

9:21

yeah, I think a few things that

9:23

can be fixed. So one, just a

9:25

quick user thing to see what you

9:27

can do quick winds on conversion rate

9:29

optimization. to pricing? Check your Google Analytics

9:31

as well. Who's the traffic coming to

9:34

the store? Who's the traffic from? And

9:36

also at which page is it dropping

9:38

off? Is it the home page, I

9:40

was saying, or is it at the

9:42

category page, or is it something, is

9:45

it to do with your shipping threshold?

9:47

And the shipping costs at the checkout

9:49

page. Even those top three things right

9:51

away will improve massively. Yeah. That sounds

9:53

good. Lots of do. I mean, congratulations

9:56

to the business, which were a little

9:58

bit of a list of tissues and...

10:00

And that's it. We wish you all

10:02

the success. Wish you all the best.

10:04

Okay, that's it from me for now.

10:07

Thanks for listening. And don't forget, you

10:09

can now watch the full podcast episodes

10:11

on my YouTube channel, called You Guess

10:13

It, the Lazy CEO channel. And if

10:15

you're loving the podcast, don't forget to

10:18

follow. And you can do me a

10:20

huge favor by leaving us a review.

10:22

And if you want more, you can

10:24

join the conversations on the podcast Instagram

10:26

at the Lazy CEO CEO of the

10:28

Lazy CEO. Everyone

10:33

has a reason to change. Growing

10:35

old, heartbreak, a fresh start. Whatever

10:38

it may be, Peloton is here

10:40

to get you through life's biggest

10:42

moments, with instructors and speaker language

10:44

and workouts that move to your

10:46

own rhythm. Peloton's tread and all

10:49

access membership help you set your

10:51

targets, track your progress, and get

10:53

stronger. Making your fitness goals a

10:55

reality. Find your push. Find your

10:57

power. Peloton. Visit One Peloton.com. In

11:00

my early days as an advertiser,

11:02

running commercials on TV was guesswork.

11:04

I knew TV was powerful, but

11:06

it was impossible to see which

11:09

ads truly worked. So I teamed

11:11

up with the best data scientists

11:13

to create a better way to

11:15

buy and measure TV ads. Tatari

11:17

was born. Today, hundreds of brands

11:20

and agencies used Tatari and we

11:22

helped them optimize with metrics that

11:24

actually grow the business. Learn more

11:26

at Tatari. TV.