London Fashion Week has just finished for another year and is more international than ever, with over 50% of the designers born outside of the UK. The week is a great opportunity to show off their collections to global retailers, as well as getting coverage in the mainstream media and fashion press. In addition to helping new designers with their start-up businesses the show organisers offer British Fashion Council's programmewith a range of business advice and seminars.
The fashion industry in the UK currently contributes a staggering ÂŁ66 billion to our economy. With London Fashion Week adding ÂŁ30 million to London every year.
Perhaps not surprisingly fashion is one of the most popular topics to research within the Business & IP Centre. And we have a great deal of valuable information and advice available. Have a look at our Fashion Industry Guideto get a flavour.
For example our Mintel report UK Design Fashion 2017 shows that men spend more on designer clothes than women, because although men shop less, they buy higher value brands. Also 56% of men agreed that wearing designer fashion makes them feel more confident, compared to 49% of women.
The report says that casual clothing and footwear are now the products that drive the designer market. This is a result of a move to less formal wear than in the past for visits to restaurants and trips to the theatre.
Young people between the ages of 16 and 24 years dominate expenditure in every category of designer fashion, from underwear to shoes. This is due to the importance of social media, where celebrities can influence young people to emulate their lifestyles. Just look at how celebrities crowd the front rows of the top fashion shows.
The IBIS World retail clothing report also covers the rising importance of social media and how it is expected to boost demand for fashion. The new breed of social media celebrities have a significant influence on their followers.
Instagram has become the key social media platform for fashion. âWith more than 200 million on Instagram connected to fashion accounts all over the world, Instagram has become a global destination for people to experience this stylish industry unlike anywhere else.â
As well as market research and related fashion information in the Centre, we also run regular workshops and offer one to one advice clinics via our partner Fashion Angel.
Donât forget, we are here to help realise your fashion dream!
Seema Rampersad and guest blogger Polly James
Posted by Innovation and Enterprise Team at 1:03 PM
During 2017âs Global Entrepreneurship Week, The Business & IP Centre hosted our flagship Inspiring Entrepreneurs: Question Time event. Amongst our panel of innovative entrepreneurs was Polly McMaster, the co-founder of The Fold, a contemporary womenswear label created for the professional woman. Founded in 2012, Pollyâs vision for a feminine brand that created stylish yet appropriate outfits for the working environment and smart evening wear has gone from strength-to-strength. Today this high-growth brand can be found in over 20 countries and counts the Duchess of Cambridge and Samantha Cameron as customers. With such impressive progress in just five years we caught up with Polly to hear how The Fold has been able to achieve such traction in the market in such a short space of time.
Polly McMaster, Co-Founder of The Fold
The Fold is described as âa contemporary new label that embraces and inspires the modern, professional womanâ. How did you identify this gap in the market?
This was me! I worked in consulting and private equity â where a suit is the dress code for men. I really struggled to find clothes that made me feel confident, stylish, smart and contemporary. I did a lot of research with other working women and found that this really touched a nerve with so many of them, so it was a very compelling thought to create a brand that was relevant to women like myself and addressed that problem.
Have you always had a passion for fashion? And if so, did you think this passion would eventually become your profession?
Absolutely, way back to school days where I did dress-making classes in the evening, and made my own clothes, to Art A Level and work experience in an amazing couture brand. However, I am definitely quite left-brain / right-brain and also love problem-solving, analysis, etc. â so I took an unconventional route to fashion via science, business strategy and investment. Itâs helped me have a more rounded view of the business, but itâs amazing to be able to bring together so many areas that Iâm passionate about.
Polly wearing one of her designs
Fashion is a consistently popular area for new start-ups, but starting and growing a successful fashion business is tough. Whilst the UK is a centre of design creativity, fashion businesses often face a high failure rate. If you could give one piece of advice to a budding entrepreneur entering the fashion world what would it be?
I entered this world with a completely different perspective, and I think that has been helpful. I approached it from quite a commercial angle â which was to provide an amazing product to a niche group of women after identifying a gap in the market. That has influenced everything in the business from both the creative side through to the business side. By having that clear vision, itâs helped us to be more competitive. It is a very tough industry, and it also takes a lot of resource in terms of both cash and expertise to navigate it. As weâve grown, Iâve certainly leant on the support of very experienced Chairman, investors and advisors whoâve helped us learn, adapt and survive!
What has been your proudest achievement in your business journey to date?
Recruiting a great team and great investors have been the most important thing in the business. Iâm really proud that weâve created a brand that has attracted so many talented people, and that I get to work with them every day. That feels like huge progress and makes the future very exciting.
Iâm also really proud that we dress amazing women for work every day â itâs very inspiring to receive messages from them to say that they nailed a job interview, or gave a powerful presentation and felt that theyâd had an extra confidence boost from wearing The Fold. Thatâs when I know weâve done what we set out to do.
What do you think the future holds for The Fold and Polly McMaster?
The Fold still feels like itâs at the beginning of its journey! We have a lot of exciting plans â we are opening a new store concept next Spring, and also continuing to build our online presence in both the UK and the US. Our customers are truly international so we are excited for The Fold to become a global destination for working women. For me personally, Iâm learning every day, and loving balancing being a mum with running the business. Iâm excited to grow with the business through the next chapter!
We often get enquiries in the Business & IP Centre about how to research digital trends. Such as mobile phone usage and social media growth.
Fortunately, we have access to eMarketer research, which is the first place to look for research about marketing in the digital world. eMarketer PRO is relied on by thousands of companies and business professionals worldwide to understand marketing trends, consumer behaviour. And to get hold of essential data on the fast-changing digital economy.
eMarketer is unusual for a market research publisher in how much information they give away for through their free newsletters.
But the only way to get hold of their full content is to come into the Business & IP Centre in London and access eMarketer PRO.
Here you will find:
Over 200 new reports each year with data, interviews with subject matter experts, and original analysis to provide insights, understanding and context on the most important topics in digital.
Aggregated data from over 3,000 sources of research in the data library.
Over 7,500 proprietary metrics about the digital marketplace, including media trends, consumer behaviour and device usage.
The ability to create customised charts and tables to help tell compelling stories with data.
Coverage across 100 countries, including proprietary metrics for 40 core countries.
eMarketer PRO will help to:
Answer specific questions and access data about digital related topics. Such as how much time do millennials spend with online video? How many smartphone users are there in the UK? What are the key UK digital trends for 2017?
Get deeper insight on digital topics. Such as what is programmatic advertising? What are the pros and cons of developing mobile apps vs mobile websites?
Research topics related to Advertising & Marketing, B2B, Demographics, Email, Industries, Measurement, Mobile, Retail & Ecommerce, Search, Social Media, Video
Benefit from eMarketer Forecasts using eMarketer Estimates up to 2020 for hundreds of Metrics.
To give you an idea of what you would find, here are some extracts from a typical eMarketer report.
UK Digital Video and TV 2017: Whoâs Watching, How Theyâre Watching and What It Means for Marketers.
Nearly two-thirds of the UK population will watch digital video content in 2017
There will be more digital video viewers than smartphone users in 2017
Short-form content isnât necessarily the preserve of the young; older groups are viewing increasing amounts
In terms of platforms, YouTube dominates the short-form space and has massive overall reach
For long-form VOD, the BBCâs iPlayer service dominates, but Netflix is gaining ground
So what does this mean for Marketers?
Pre-roll ads donât work and are mostly disliked on digital channels
However, pre-roll is still where most of the money is going: 59% of digital video ad spending in H1 2016 went to pre- and post-roll inventory
Social is one area that seems like a good environment for video ads
Engagement with a video ad on social media often leads to a purchase
Posted by Innovation and Enterprise Team at 12:41 PM
Henry Collins â Business & IP Centre work experience intern â recently talked to entrepreneur Peter Ford, founder of Mr Pen, about spotting and filling gaps in the market. Mr Pen is a family-owned and operated mail order business fountain pens and accessories.
How did you get started?
Like any entrepreneur, I saw a gap in the market and filled it. In this case it was by founding a speedy mail order pen operation known as Mr Pen. Mr Pen provides 17 different types of nibs for fountain pens. This is an area long ignored by the large companies who, over time, have stopped catering for this unique operation due to supposed lack of demand for this niche market. However, my business research, and the success of the business, has proved that there is a market for this product. In Mr Penâs headquarters in Ruislip we buy pens from contractors in China, Germany and the UK and grind the nibs and provide a customised engraving service for customers.
Whatâs the ethos of your company?
The company ethos is about providing very high quality products for an affordable price. The fact that we do not sell through retail outlets means that there are no increased costs on top of the price and, as a result we can sell our products for the lowest price possible. We have not had problems with counterfeiting which many of the larger pen brands have. From one small pen business it has expanded across a range of products including watches, hearing aid batteries and custom presents for special occasions. Our engraving machines are also adapted for use with the watches, meaning that the business has been adaptable and changed with the demands of the customer.
What are your top tips for anyone starting a business?
When starting a business plan you have to be incredibly honest with yourself and not fool yourself with inflated projected revenue figures
Breaking even in the first year is incredibly important as most businesses do not survive past this point unless they achieve this
Treat your customers well because goodwill goes far â this applies even if you may be cheated by unscrupulous people once in a while!
What entrepreneur inspires you?
Lord Sugar has been an inspiration to me as he has changed his business direction so many times and has proved very adept at being adaptable, which something I have also had to do.
If you want to spot a gap in the market, why not come to the British Libraryâs Business & IP Centre and use the extensive business resources and expertise available. Our extensive market research databases enable you to explore potential market gaps whilst our rnage of one-to-one advice and guidance enables you to develop and protect new products to fill these gaps. For example, our sessions with Bang Creations support you to exploit market gaps through developing and commercialising your product or invention whilst keeping costs to a minimum. So come in and visit us soon!
Henry Collins on behalf of the Business & IP Centre
Posted by Innovation and Enterprise Team at 9:07 AM
In the Business & IP Centre we often get enquiries about how to research a particular geographical area. With an increasing interest in âkeeping trade localâ and in the provenance of products, many start-ups are choosing to establish and market themselves as âlocalâ businesses - for instance working with the community, or sourcing suppliers from the nearby area. Others are simply interested in finding out more about their area in terms of customers, competitors and marketing opportunities.
Luckily there is a wealth of information available on specific localities and entrepreneurs can use this information to pinpoint their target market and tailor their promotional activity. For instance, a retailer of high-end luxury goods might want to focus their business in an affluent area, in order to attract high-earning local customers. A new restaurant might think twice about opening on a street with lots of established competition â but it may benefit them to know about nearby markets and food-sellers who could act as suppliers. A fashion designer could research local events and networks where thereâs potential to sell or promote their products. Below are a few of the resources you can use to research your area.
Local Data Online gives data and insights for locations, business types and companies. Its searchable map tool lets you select a specific area and examine the overall retail make-up, identify local businesses, or check the geographical spread of an industry or company. It also gives addresses and contact details for individual shops, lists available vacant units, and gives a demographic profile of the area.
You can search for a specific location, company and/or retail category, and information is displayed on easy-to-read maps and diagrams. Extra information for locations includes vacancy rates, the mix of independent shops vs. chains, crime statistics, average earnings and house prices.
COBRA (access via terminals in the Business & IP Centre)
COBRA is an encyclopaedia of practical information for starting, running and managing a small business. Included in the database are a number of âLocal Area profilesâ, covering towns and regions throughout the country. A Local Area Profile will typically include information on sources of business support and advice, financial support, workspaces, business networks, business directories, libraries, local authority trading licences, business rates and HM Revenue & Customs.
Company databases: FAME, MarketIQ, Kompass, ORBIS, OneSource (access via terminals in the Business & IP Centre)
Our company databases are searchable by location, meaning that you can create lists of companies operating in a specific geographical area.
Grantfinder (access via terminals in the Business & IP Centre)
Gives details of 4,000 grants, loans and awards, searchable by geographical area.
Business & IP Centre National Network
The Business & IP Centre National Network provides entrepreneurs and SMEs across the country with free access to a wealth of databases, market research, journals, directories and reports. There is a programme of free and low-cost one-to-one advice and workshops delivered by trained staff and business experts on a range of topics including starting up, business planning, marketing and intellectual property. Find a Centre near you.
Your local library
Many libraries will hold local information, newspapers, directories and data.
Social media can be a powerful research tool. Lots of local groups, associations and businesses will have a presence on social media websites such as Facebook, Instagram and Twitter - or try searching Twitter for name of the area youâre interested in to get rolling updates of whatâs going on in the area.
Your local council can provide helpful information about doing business in your area. Some councils also run business support programmes.
ONS Neighbourhood Statistics
ONS Neighbourhood Statistics allows you to find detailed statistics or a summary report for specific geographic areas. Covers areas such as crime, economics, education, health, housing, income, lifestyle, population, migration, physical environment.
Official Labour Market Statistics (NOMIS)
NOMIS allows you to find detailed labour market (population, employment, economic activity, qualifications, jobseekerâs allowance claimants) statistics for specific geographic areas.
Data for Neighbourhoods and Regeneration
Data for Neighbourhoods and Regeneration identifies and signposts datasets available for neighbourhoods on areas like population, deprivation and income, employment, economy and enterprise, education and skills, health and disability, housing and households, crime and community, environment, access and transport.
As highlighted in an earlier blog, the website Netmums has comprehensive listings of small businesses in a local area, from garden services to website design.
Google Street View
Google Street View is invaluable for seeing what a neighbourhood actually looks like, street by street.
London Datastore: Greater London Authority (GLA) one-stop shop for statistics and reports on London, spanning topics from culture to crime. The Community page provides visualisations based on the data.
Starting your own chocolate business is something many of us only dream about. Amelia Rope is one woman who has immersed herself in the chocolate industry and has come up with new and innovative flavours to tantalise our taste buds. But how does one become a chocolatier or even begin to make the dream of owning a chocolate business a reality? Amelia is a current participant on the Business & IP Centre Innovating for Growth Programme and we had the chance to ask her some of our questions.
Photo credit: Lucy Young
Hi Amelia, where did the idea come from to start your own business?
I have always wanted to have my own business from a young age. Looking back I think I always wanted freedom and independence from anyone controlling me financially. During my 20âs and early 30âs I was a PA for small businesses, large corporates, hospitals and doctors surgeries. I qualified as a massage therapist, studied nutrition, herbal medicine and qualified as an aromatherapist and my last âproperâ job before starting my business was as a Practice Manager. It took some time to finally get where I am now â I founded Amelia Rope Chocolate in September 2007 and now my chocolates are sold in hotels and department stores across the UK, in the US, Dubai and Malaysia.
I appeared on Masterchef twice - I am definitely not a chef but it gave me the courage to contemplate life amongst food. Also having a life-coach helped me believe in myself, and encouraged me to take a risk which helped me convert from a Practice Manager to a chocolatier. Another key turning point was when a well-known food editor flippantly said I could be the next Juliette Binoche (I donât think they had any idea I would take it literally!) and when my chocolate diamond geezer Patrick Reeves, who believed in me so much, put in a commission for 1,000 chocolate bars to get me kick-started. I was then lucky enough to meet Ewan Venters (then Director of Food Halls, Selfridges) who spotted my first two bars and stocked them in Selfridges.
Photo credit: Mary Wadsworth
Tell us about what makes Amelia Rope Chocolate so unique
I believe small businesses are unique in that they allow the personality of the business owner to shine through in their products, and this allows them to really make their mark in their industry. Chocolate confectionary is generally a completely crowded market. However, when I entered the premium chocolate bar market there were very few of us â in fact it was not such a flooded market then as it is now as there isn't as much space in this area. When you look at the brands in this sector you will see each of our own characters/individual stamps coming through. I love splashes of colour, design and have always had a very distinct palate for what I like to eat, loathe and crave. Put all of these together, and a mind which whirls around with lots of ideas, and I suppose you will get something different! Some of my recipes are traditional, but the end flavour I believe is different. Perhaps this stems from the way I create my recipes which are as if I was developing an aromatherapy blend. My love of sea salt influences my flavours and chocolate is such a good medium to carry salt: especially milk and white chocolate.
How did you know there was a market for your premium chocolate bars?
By complete luck! My bespoke products just hit the spot with consumers immediately after a press drop off to most of the national newspapers and magazines. My business featured in Stella Magazine, and it just rolled on from there. The chocolate bars were my most effective product to market in the range. I also went to the Business & IP Centre, whenever I had time to learn about trends, markets and begin to think of strategies and I still visit the Centre today when researching markets and developing my business plans.
Photo credit: Mary Wadsworth
What hurdles have you had to overcome in your journey so far?
The main hurdle is lack of funding to really propel forward at the pace I want to. My aim was to crank it up and have an opportunity to sell out within five years. It is also difficult to achieve a good work/life balance â for so many years I worked every day and for crazy hours. I found I let go of friends, family and relationships because my business consumed me. Now I take time off at the weekends (unless it is the busy seasonal times or I am travelling on business), go out at least 2-3 times a week in the evening and go to the gym regularly. Mentally and physically I feel so much better as a result. I have very high expectations of myself and all the people I work with but each hurdle has been worth overcoming to get where I am today.
How did you first hear about the Innovating for Growth Programme?
On twitter and I immediately went to the website to explore more. I was amazed when I won a place and it has delivered way beyond my expectations. It has given me a chance to really focus on my business. For some time I have wanted to strip my business right down to its core, cross-examine it in a critical way and then to put appropriate pieces back together, alongside bringing new facets in such as streamlining my production. With a team of experts and one-to-one sessions my learning curve has been intense, tough and challenging at times, but I have learnt so much and feel in a much better position with my business than when I started. Life is about learning and transforming â with Innovating for Growth I have begun to do both and I canât wait to see how much further I grow with the help of the programme to build a good, effective team to support me and my business and grow significantly both in UK and globally.
Photo credit: Mary Wadsworth
What tips would you give to any entrepreneurs looking to scale up?
When you set up try and bear in mind that your product may be a hit, which will lead to scaling up. Have a plan about how your product can do this, the costs involved and how it will work for your brand. Applying for Innovating for Growth can certainly help anyone on this journey. Be prepared to have a good stash of cash too!
If, like Amelia, you want to scale up apply for Innovating for Growth today.
Innovating for Growth is part-funded by the European Regional Development Fund
Posted by Innovation and Enterprise Team at 11:59 AM
The digital publication of this book by Benedict Dellot, published by the RSA (Royal Society for the encouragement of Arts, Manufactures and Commerce) on May 2014, attracted my attention when it was featured last month on the âSmall Business and Entrepreneurshipâ section of the Management & Business Studies Portal. It is a research study report, available for everyone as open-access material and there is no need to be registered as user of the portal to access it.
The report looks at the reasons behind the rise of self-employment and microbusinesses in the UK, and is a very interesting report to read as it highlights the profiles of the main users of the Business & IP Centre. It is an output of the project named âThe Power of Smallâ, which seeks to better understand the growing community of self-employed and microbusinesses, and was launched by RSA in collaboration with Etsy, an online marketplace for handmade goods and vintage items.
The report focuses on the individuals involved in the self-employed community, trying to answer questions such as why so many people are turning to self-employment and what this means for them personally. It segments the self-employed community into six âtribesâ, from Visionaries all the way through to Dabblers (see Figure 1), presenting a typical case for each âtribeâ. The author considers this typology crucial for policymakers who can then create effective interventions and policy solutions that will improve the livelihood of the self-employed community.
The report highlights the following main research findings and recommendations:
Most people choose to be self-employed for greater freedom, meaning and control, defying the myth that those who started up in the recessionary period of the last five years did so to escape unemployment.
The biggest increases in self-employment have been in professional occupations (one of the highest skilled groups), defying the myth that most of the newly self-employed are low-skilled odd-jobbers.
Very few that started up in the last 5 years have taken employees, so there is need to stimulate growth and recruitment in the self-employed;
Despite the majority agreeing that the economy is getting better and the country is heading in the right direction, very few agree that the government adequately supports the self-employed and that the welfare system is fair to people in their position; there is need for urgent review of government policy on self-employment, from welfare and taxes, all the way through to education and housing.
In the next phase of the Power of Small project, attention will be focused on the wider economic and social implications of the growth of the microbusiness community. This report â the first of three - gives a good understanding of what it means for the people directly involved, but questions remain about the impact of a growing microbusiness community on major issues that affect us all, such as productivity, innovation, jobs growth, inequality and living standards.
Irini Efthimiadou on behalf of the Business & IP Centre London
Posted by Innovation and Enterprise Team at 11:00 AM
One of the resources we provide here at the British Library Business & IP Centre is free access to a number of business and intellectual property databases; helping entrepreneurs and businesses to research trends, markets and companies, and to utilise and protect their IP. If youâve ever wondered what the market trends are in a particular industry, how to write a business plan, or where to search for trademark registrations, then you can use our databases to find out. The databases are regularly updated and in a monthly blog series, we take a look at whatâs new.
This month, we look at the Datamonitor Consumer database, which provides analysis of the global consumer goods market. Spanning areas including food and drink, cosmetics and toiletries, pet care and household products, the database covers key category, consumer, innovation and marketing trends and includes product launch and market data analytics tools.
Datamonitor is particularly useful for identifying key trends and innovations in a specific industry or market sector; helping users to analyse opportunities and gaps in the market. Another key feature is the âSuccesses and failuresâ series; helpful for those wishing to examine the strategies behind successful products. Datamonitor also provides market data and statistics.
Readers can download up to 20 pages of text per day from Datamonitor.
Below is a selection of the latest reports:
Product Innovation Updates:
Reports drawing out some of the themes, trends and recent innovations in a particular industry, as well as identifying the underlying trends driving product innovation in this area.
â˘ Sauces, Dressings, Condiments, and Spreads Product Innovation Update â September 2014 â˘ Skincare Product Innovation Update â September 2014 â˘ Spirits Product Innovation Update â September 2014 â˘ Snack Product Innovation Update â September 2014 â˘ Ready Meals Product Innovation Update â September 2014 â˘ Male Grooming Product Innovation Update â September 2014 â˘ Hot Drinks Product Innovation Update â September 2014 â˘ Non-Carbonated Soft Drinks Product Innovation Update â September 2014 â˘ Household Care Product Innovation Update â September 2014 â˘ Oral Hygiene Product Innovation Update â September 2014 â˘ Make-Up Product Innovation Update â September 2014 â˘ Dairy Product Innovation Update â September 2014 â˘ Fragrance Product Innovation Update â September 2014 â˘ Haircare Product Innovation Update â September 2014 â˘ Functional Food and Drinks Product Innovation Update â September 2014 â˘ Confectionery Product Innovation Update â September 2014 â˘ Beer Product Innovation Update â September 2014 â˘ Carbonated Soft Drinks Product Innovation Update â September 2014 â˘ Bakery and Cereals Product Innovation Update â September 2014 â˘ Baby Personal Care Product Innovation Update â September 2014
Reports outlining the most important consumer and product trends impacting a particular industry globally.
The reports include global consumer insight analysis, case studies and product examples. Key considerations and potential opportunities are identified based on consumer preferences and recent product innovations in this category.
Consumer and Innovation Trends in Suncare 2014
Reports identifying and examining key cross-industry innovation and trends, from new product development to organisational structures.
Detailed analysis of new products, innovation or trends.
Will Coca-Cola Life revive the carbonates industry?
Packaging Innovation of the Month: cupcake cream is child's play
Successes and Failures
Case studies analysing the success or failure of a particular product or service, with insights into specific sectors as well as the relevant consumer trends and attitudes that drive innovation success.
Success: Nivea "Sun Block Ad"
Success: Kellogg's Special K Flatbread
Success: RagĂş's Rebrand
Health and Nutrition
Reports identifying and analysing key innovations and trends across the health and nutrition sector.
One of the resources we provide here at the British Library Business & IP Centre is free access to a number of business and intellectual property databases; helping entrepreneurs and businesses to research trends, markets and companies, and to utilise and protect their IP.
If youâve ever wondered what the market trends are in a particular industry, how to write a business plan, or where to search for trademark registrations, then you can use our databases to find out. The databases are regularly updated and in a monthly blog series, we take a look at whatâs new.
This month, we take a look at the eMarketer database, which provides international market research and trend analysis on internet, e-business, online marketing, media, mobile, and emerging technologies. eMarketer is particularly useful for those in a digital/technology focused industry or start-up, however, as most businesses now incorporate some element of âdigitalâ - from selling online, to social media - it also provides useful insights for entrepreneurs and employees across a number of sectors.
The reports bring together information from approximately 2,800 sources, including research firms, trade associations, consultancies, government agencies and universities. All research is globally focused and information is compiled into reports, charts, articles, interviews, webinars and newsletters. eMarketer is easy to search, with a versatile interface allowing both simple and/or complex search strategies. Itâs particularly strong on data and statistics, with most reports including tables, charts and graphs.
Readers can download up to 10 reports per day.
eMarketer update their reports on a very regular basis, so there are lots of new ones each month. Some selected recent highlights are:
UK Holiday Shopping Preview: A Merry Season Forecast for Ecommerce
A look at UK ecommerce sales forecasts for the Christmas period, including statistics and trends.
Healthcare Marketing to Baby Boomers: Helping the 'Forever Young' Age on Their Own Terms
Examining the 'Baby Boomer' consumer demographic, with trends, issues and statistics.
Digital Usage in the UK: Midyear 2014 Complete eMarketer Forecast
Comprehensive set of key metrics for the UK digital participation, including internet, mobile phones and social media users.
UK Content Markeeting: Meeting the Challenge of Being Seen and Shared
Report looking at content marketing attitude and options, with a particular focus on the increasingly important role social media is playing in both its distribution and dissemination.
As a start-up, you may ask yourself why data analysis is important your business. According to Alistair Croll and Benjamin Yoskovitz, authors of Lean Analytics, taking a long, hard look at some statistics is for âanyone trying to make his or her organisation more effectiveâ.
A useful resource for anyone using the Lean Startup approach, the book offers insight into the fundamentals of why you need data to succeed, and what data that should be to help you get your product to market in an efficient and cost effective manner.
The book starts with the basics, builds up a scenario and then demonstrates a real-life example using case studies, for example, explaining the differences between quantitative and qualitative data, suggesting you need both statistics and user feedback to get a real sense of whatâs working and whatâs not, then how this was applied to an actual business.
Lean Analytics helps you to grasp not just what a metric is, but what a valuable metric is, and what this can do for your business. You may have a product for a group, but what niche are you attracting? How do you utilise that information? This book will help you make more informed decisions will could potentially save you time and money â and steer you towards a breakthrough moment. For example, did you know photo-sharing site Flickr started life as a chat? Remember, the Lean Startup listens to what its customers want!
From looking at how much a customer spends on an e-commerce platform to website design to software as a service, Lean Analytics helps you to develop the right questions to ask and what to do with those answers without getting lost in jargon or losing sight on what data actually represents â actual people â your customers.
Nadia Kuftinoff on behalf of the Business & IP Centre
Posted by Innovation and Enterprise Team at 5:19 PM