Ep. 73 The Blueprint For Building An 8 Figure Business On Social Media With Luxe Collective’s Ben Gallagher
Feb 5, 2024
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Discover how Ben Gallagher built a multi-million fashion business at 23, from starting a consignment shop to gaining 950k social media followers. Listen as he shares the secrets to social media success, sustainable growth, and the importance of mindset on the journey to building a successful business.
Started with limited funds, focused on sustainable growth model through luxury product reselling.
Early adoption of TikTok led to viral success by providing valuable content.
Tailored social media strategy focused on educating market, driving customer engagement and unique positioning in the industry.
Deep dives
Starting with Limited Funds and Scaling Responsibly
The podcast episode details how the business started with limited funds of £1,200, focusing on buying and selling luxury products through platforms like eBay and Depop. Joe's girlfriend was one of their first customers, highlighting the early stages of accumulating inventory and sales. The approach emphasized a slow but sustainable growth model without external investments, enabling the business to scale responsibly.
Being Early Adopters on TikTok and Leveraging Content Creation
The podcast episode highlights their early adoption of TikTok in 2019, three years before others, providing them with a learning advantage in content creation and audience engagement. An instance of a TikTok video explaining how to tie a pair of Alexander McQueen trainers garnered unexpected viral success, shaping their understanding that content offering value leads to high engagement.
Developing a Tailored Social Media Strategy for Audience Engagement
By recognizing the value of actionable content on social media, the business tailored its social strategy to meet consumer needs. This strategy focused on educating the market about lesser-known luxury products in the North, drawing attention from potential customers and positioning the business uniquely in a competitive landscape.
Establishing Resilience Through Learning and Iterating
The narrative illustrates the growth journey of the business, highlighting the importance of resilience, adaptation, and continuous learning. By acknowledging mistakes, embracing failures, and iterating on their approach to content creation and customer engagement, the business established a foundation for sustainable growth and long-term success.
Importance of Providing Value and Engaging Audience
The speaker emphasizes the strategy of providing value to the audience, focusing on creating curiosity and engagement. By offering content that is both educational and entertaining, the speaker suggests that this approach can attract and retain followers. The key insight revolves around the concept of 'hosting the party,' encouraging brands to talk about industry news, history, and opinions to keep the audience interested.
Lessons from Dragon's Den and Business Growth Strategy
The podcast episode discusses the speaker's experience on Dragon's Den and the subsequent business growth strategy. Despite challenges and shifts in approach, the speaker emphasizes the importance of adaptability and learning from failures. The narrative highlights the significance of leadership team development, out-of-home marketing campaigns, and the value of trying new approaches in business endeavors.
Ben Gallagher has built a multi-million-pound fashion business at the age of 23. You might not have heard of his name, but if you’re on TikTok, I can guarantee you’ll have seen his encyclopaedic videos on the fashion industry.
Growing up in Formby near Liverpool, Ben recounts how he always wanted to keep up with his friends who had the latest designer pieces, but he couldn’t afford them. After seeing the discounts on pre-loved items, he and his brother started a consignment shop in Liverpool.
Now, just 5 years later, Luxe Collective turns over millions each year and has just received investment from Steven Bartlett after they came out on top on Dragon’s Den. Last year they gained over 950k followers on Luxe Collective's social platforms, and I'm so grateful to Ben for sharing the secrets of their strategy.
I really hope you enjoy listening.
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