Business Strategy or Just Doing Good?
Warby Parker and Tom’s Shoes have put themselves on the map by using their business model to do good for humanity. For every pair of sunglasses or shoes bought, another is donated. This is truly an act of kindness but looking deeper you can see the pure genius behind this marketing campaign. (I don’t want to belittle this act of kindness- just look at it from a business standpoint.) The best advertisement for a company is when individuals are wearing or using their product. In this case, for every item purchased, there is a second person to wear or promote your brand. That’s double amount of body’s- meaning double the amount of exposure- you are introducing your brand to new potential customers. It’s amazing how far an act of kindness can go. Also, while were on the act of kindness topic, individuals and business’ should donate 10% of their proceeds. You would know be able to check that off your list.
Some might think that this can be expensive- for every item sold, another is shipped out- for free! But look at it this way- now you don’t need an extensive marketing department. Some of that money allotted to marketing can be used towards the free shoes. Also, this type of marketing is a lot easier to track. You never know if a billboard or magazine ad will help further business but you will know that if you give a free pair if shoes to someone, you made a customer for life.
And my last and most important part- what more would a customer want than to be part of such a good deed without having to pay or get off their couch. This good deed will attract customers to your brand and keep them coming!
So ny giving away free shoes you’ve managed to cut your marketing department, expand brand exposure, fulfill your tithe and create long-lasting customers. These companies are on to something…