Stump The Strategist

Watch below as we answer:

Q: How do I grow the customer base of my online sock store? Each sock design supports a different charity.

• Featured strategists are: 

  Ashton Bishop - Head of Strategy, Step Change Marketing

  Jeff Cooper - Senior Partner, Step Change Marketing

  Craig Rispin - Futurist and Keynote Speaker, The Future Trends Group

• About Stump The Strategist:

  • Questions from the floor, answered live in nine minutes
  • It's opinion, not advice
  • Step Change charges clients for advice, Stump The Strategist is free

A:

• Rather than find more customers, focus on increasing frequency. Try signing up customers to a regular subscription, like the Dollar Shave Club

• Market directly to other charities - there are over 70,000 charities in Australia with employees who would prefer to buy socks that support charity

• Create ‘event themed socks’ such as the Australia Day socks, Fathers' Day socks and Easter socks. Help charities with their fundraising by branding your themed socks with their logos, and benefit through exposure to their customer base

• Look at charity Fun Runs – they give away shirts, so why not socks?

• Search terms - work out what terms customers would type for socks, what competition is around those search terms, and what you are willing to pay for them without eating into profits

• Partner with shoe stores like Athlete’s Foot by providing display socks in exchange for a physical presence through which people can order the same socks online. Alternatively, the shoe store can offer their customers a free pair of socks - ordered online - meaning data capture for you and the opportunity to sell them into a ‘sockscription’

Get more Stump The Strategist HERE