Greats: New Ways Of Old Business

Nowadays, many companies still use the Internet era before. management model That is, the intermediate chamber of commerce is involved in every aspect of product development to distribution, and the "tap" in them always ends up on the consumer's head.

Smart entrepreneurs and consumers alike are adopting a new business model, that is, reducing the low efficiency of dealer manufacturing, because the group can no longer create value-added products, and then sell products directly to consumers at more affordable prices. Wahl is an example of Warby Parker. Recently, rumours have been made that the value of the eyeglasses company has reached 1 billion dollars.

Likewise, sneakers have reason to celebrate. Ryan Babenzyn, Ryan (Babenzien) and Jon Buscemi (Jon Buscemi) co founded in New York Broolyn shoes brand Greats promised to sell the best men's shoes with a price of only $49 to consumers directly, which will subvert the sports shoes industry.

So far, Greats has been focused on selling online through its own website, Greats.com. The brand released the first two products in August 2013 and sold out in just 90 days, which is enough to prove their market demand. After that, Buscemi and Ben Bryan and he began to concentrate on adjusting the production plan. In June last year, the company released a new shoe and began to replenish its two sports shoes inventory. Here's how they learned how to run an electric business and how to build brands since then.

　　 Always focus on brand names

Greats has always reminded himself not to blindly pursue revenue, but to focus on long-term growth rather than improving short-term sales, he said. Although he believes that the company may create a lot of revenue through Amazon and other channels, brand Not for the time being. This strategy will enable them to focus on direct selling to consumers through their own official website, so that they can control brand information on their own sites.

Thanks to the brand affinity that Greats has established, the company found that 20% of its customers were repeat customers, though it was not long established. He also hopes that with the growing maturity of young consumers and the growth of this brand, many consumers will shift their purchase targets from the lower priced ones to the more expensive ones.

　　 Reflection on how to acquire customers

In order to build a new shoe brand, Men's wear Fashion recognition is very important, so he contacted his friends in the circle to publicize the brand. As a result, it hasn't been until the new Greats listing, and fashion pioneers such as Nick Wurster Wooster have already sent pictures of Greats shoes on their feet to Instagram, which not only helped the brand to attract the attention of consumers, but also set up market expectations for the Nick. Even before Greats launched a single product, its number of fans on Instagram reached 10 thousand.

So far, it has always been the most effective way for the company to lead the fashion trend, to win customers and public opinion, Co operating with different brands and promoting its limited edition launch has helped the brand to attract new customers. Greats recently co operated with the US brand Parabellum to produce a limited amount of rubber soled sneakers called Wooster, which will be produced in Italy with white as the keynote and the top leather as the main material. Parabellum displayed a number of Wooster sneakers at its store in San Francisco, which helped Greats attract a number of retail customers on the west coast. Before that, they probably did not enter the market at all.

　　 Rapid adaptation

At first, Greats was just getting the email address of the customer. After offering the coupon of $10 to the customer who bought the brand for the first time, he encouraged these new customers to register members and receive marketing information. However, they found that in all orders, nearly 35% of the orders came from mobile devices, which is totally higher than the industry standard. In order to make full use of the high traffic from mobile terminals, they decided to provide registered users with new choices of SMS notification, instead of only "old" e-mail boxes.

In addition, they spend about half of Facebook advertising on mobile devices, which generally have lower advertising rates than computer pages, and then redesign the website's mobile product pages, so that users can easily add products to shopping cart based on navigation. This mobile strategy worked well - on the day of the Rosen listing, orders for mobile devices accounted for 52%.

Greats has many aspects to explore and learn, but they have great enthusiasm for the future development. In the coming months, the company will focus on enriching product mix, and derive two new shoes according to the bestseller Bab, which will further expand this model, and then introduce a more expensive Italy product. Gym shoes 。 The upcoming cooperation will reduce the brand and more potential customers. On the other hand, it will also help Greats's team to have a clearer understanding of the possible effects of international expansion.

"We have proved that there is a viable market and brand affinity is high," said baben. "We should be able to expand our audience and expand our brand."