Test, Learn & Scale – Path to Profit

Key to Success on the Internet is Testing. Testing what works and what doesn’t. Learn from it. And then repeat what works.

We have found that you need at least 30 varied designs at different price points to start testing and get any useful insights. Let me dissect that statement for you:

1. 30 designs: You need at least 30 designs to start getting any useful feedback on your boutique. If you have less than it is truly very very difficult unless you are collecting user feedback through external surveys etc.
2. Varied design: Having different styles of design will help you understand taste of buyers on mirraw. Even though your design might be fantastic, it might not coincide with the taste of a buyer. Idea here is to understand the taste of a typical buyer on mirraw.
3. Different price points: Your goal here is to understand the price range at which mirraw buyer is comfortable with.

Keep iterating over price & designs till you figure out what works and what doesn’t. Goal at this stage is not profits (we will make profits little later). Goal at this stage is to get useful insights.. Once you understand that you are own your way to profits.

Keep in mind that even if you satisfy all of the above criterion your product might not sell if you haven’t uploaded multiple pics of a design. This is especially true when your design cost is greater than Rs. 1500. You might as well upload few designs everyday properly than uploading tons of design with half information.

Power tip: Everytime you are uploading new design step into buyers shoe and think of all the questions that the buyer would have while purchasing it. Your goal is to make decision easier for the buyer. Answer all the possible questions.

At the end of the day, there is no magic.