Connect with us

Business Marketing

This startup’s growing success is due to… WhatsApp and data science?

(BUSINESS MARKETING) Work smarter, not harder. Newly funded luxury sock company, SockSoho, rockets forward in growth using WhatsApp and data science.

Published

on

SockSoho founder Pritika Mehta with some socks powered by data science.

Online direct-to-consumer fashion brand, SockSoho, does more than sell quirky and stylish men’s luxury socks. The company is leveraging data science to reduce marketing and customer acquisition costs. Founded by data scientist Pritika Mehta, and growth marketer Simarpreet Singh, the retail company launched 10 months ago and already has over 30,000 customers.

Funded by Y Combinator, an American seed money startup accelerator, SockSoho is not solely relying on its e-commerce store to bring in revenue. Instead, it’s using WhatsApp to drive its sales. With over 400 million WhatsApp users in India, the company’s selling formula is definitely working! The brand has acquired most of its customers through the messaging app. In fact, it brings in 70% percent of their sales.

The company is definitely taking full advantage of WhatsApp’s potential as both an e-commerce and A/B testing platform. The brand markets its products and tests out its ideas by easily interacting with customers straight through the app. All that data clarifies demand well before placing any manufacturing orders.

In an email to TechCrunch, Eric Migicovsky, the Y Combinator partner who invested in the company writes “[SockSoho] looks like a fashion brand on the surface but at the backend they operate like a tech company. They’re A/B testing every aspect of the product and e-commerce path, not something every fashion brand does.”

By being able to acquire customers, sell merchandise, and market new products at the same time, SockSoho is working smarter and not harder. This personal engagement is what will keep customers coming back for more. There won’t be a need for traditional costly marketing and customer acquisition techniques.

As the brand scales up, Mehta realizes personal engagement will become more difficult. To solve this issue, SockSoho is developing their own AI proprietary tool. With the use of AI-based chatbots, customers’ inquiries won’t go unanswered. Plus, more complicated issues will be quickly transferred to customer representatives.

“We are basically gathering data points to understand customer behavior and spending patterns, and those insights help us refine every single thing that we are building, from our designs to marketing and inventory planning, and even expanding into future verticals,” said Mehta.

By using technology that is already in place and innovating it to do more, SockSoho is showing the power in data science. They report that they will be able to grow into a full menswear line soon. According to Singh, the end goal is to “become the Uniqlo of India.”

Veronica Garcia has a Bachelor of Journalism and Bachelor of Science in Radio/TV/Film from The University of Texas at Austin. When she’s not writing, she’s in the kitchen trying to attempt every Nailed It! dessert, or on the hunt trying to find the latest Funko Pop! to add to her collection.

Business Marketing

Tired of “link in bio”? Here is a solution for Instagram linking

(MARKETING) The days of only one link in your Instagram bio are over. Alls.Link not only lets you link more, it gives you options for marketing and analytics too.

Published

on

Woman checking Instagram on phone

If you’re like me, you’ve probably swapped out the link in your Instagram bio 100 times. Do I share my website? A link to a product? A recent publication? Well, now you don’t have to choose!

Alls.Link is a subscription-based program that allows you to, among other things, have multiple links in your bio. I’m obsessed with the Instagram add-ons that are helping business owners to expand the platform to further engage their audiences – and this is NEEDED one.

With the basic membership ($8/month), you get up to 10 customizable Biolink Pages with shortened links (and you’ll be able to choose your own backend). You also get access to Google Analytics and Facebook Pixel for your pages. With the basic membership, you will have Alls.Link advertising on your Biolink Page. Plus, you’ll be allotted a total of 10 projects, and Biolink Pages with 20 customizable domains.

With the premium membership ($15/month), you get link scheduling for product drops and article releases, SEO and UTM parameters, and you’ll have the ability to link more socials on the Biolink Page. With this membership, you’re allotted 20 projects and Biolink Pages with 60 customizable domains.

If you’re unsure about whether or not Alls.Link is worth it (or which membership is best for you), there is a free trial option in which you’ll be granted all the premium membership capabilities.

Overall – premium membership or not – I have to say, the background colors and font choices are really fun and will take your Biolink Page to the next level. Alls.Link is definitely a program to consider if your business has a substantial Insta following and you have a lot of external material you want to share with your followers.

The day-by-day statistics are a great tool for knowing what your audience is interested in and what links are getting the most clicks. Also, the ability to incorporate Google Analytics into the mix is a big plus, especially if you’re serious about metrics.

If you have a big team (or manage multiple pages), I would suggest going premium just for the sheer quantity of domains you can customize and link, though there are various other reasons I’d also suggest to do so. Take a look and see what works for you!

Continue Reading

Business Marketing

Use the ‘Blemish Effect’ to skyrocket your sales

(MARKETING) The Blemish Effect dictates that small, adjacent flaws in a product can make it that much more interesting—is perfection out?

Published

on

blemish effect

Presenting a product or service in its most immaculate, polished state has been the strategy for virtually all organizations, and overselling items with known flaws is a practice as old as time. According to marketing researchers, however, this approach may not be the only way to achieve optimal results due to something known as the “Blemish Effect.”

The Blemish Effect isn’t quite the inverse of the perfectionist product pitch; rather, it builds on the theory that small problems with a product or service can actually throw into relief its good qualities. For example, a small scratch on the back of an otherwise pristine iPhone might draw one’s eye to the glossy finish, while an objectively perfect housing might not be appreciated in the same way.

The same goes for mildly bad press or a customer’s pros and cons list. If someone has absolutely no complaints or desires for whatever you’re marketing, the end result can look flat and lacking in nuance. Having the slightest bit of longing associated with an aspect (or lack thereof) of your business means that you have room to grow, which can be tantalizing for the eager consumer.

A Stanford study indicates that small doses of mildly negative information may actually strengthen a consumer’s positive impression of a product or service. Interesting.

Another beneficial aspect of the Blemish Effect is that it helps consumers focus their negativity. “Too good to be true” often means exactly that, and we’re eager to criticize where possible. If your product or service has a noticeable flaw which doesn’t harm the item’s use, your audience might settle for lamenting the minor flaw and favoring the rest of the product rather than looking for problems which don’t exist.

This concept also applies to expectation management. Absent an obvious blemish, it can be all to easy for consumers to envision your product or service on an unattainable level.

When they’re invariably disappointed that their unrealistic expectations weren’t fulfilled, your reputation might take a hit, or consumers might lose interest after the initial wave.

The takeaway is that consumers trust transparency, so in describing your offering, tossing in a negative boosts the perception that you’re being honest and transparent, so a graphic artist could note that while their skills are superior and their pricing reasonable, they take their time with intricate projects. The time expectation is a potentially negative aspect of their service, but expressing anything negative improves sales as it builds trust.

It should be noted that the Blemish Effect applies to minor impairments in cosmetic or adjacent qualities, not in the product or service itself. Delivering an item which is inherently flawed won’t make anyone happy.

In an age where less truly is more, the Blemish Effect stands to dictate a new wave of honesty in marketing.

Continue Reading

Business Marketing

Google Chrome will no longer allow premium extensions

(MARKETING) In banning extension payments through their own platform, Google addresses a compelling, if self-created, issue on Chrome.

Published

on

Google Chrome open on a laptop on a organized desk.

Google has cracked down on various practices over the past couple of years, but their most recent target—the Google Chrome extensions store—has a few folks scratching their heads.
Over the span of the next few months, Google will phase out paid extensions completely, thus ending a bizarre and relatively negligible corner of internet economy.

This decision comes on the heels of a “temporary” ban on the publication of new premium extensions back in March. According to Engadget, all aspects of paid extension use—including free trials and in-app purchases—will be gone come February 2021.

To be clear, Google’s decision won’t prohibit extension developers from charging customers to use their products; instead, extension developers will be required to find alternative methods of requesting payment. We’ve seen this model work on a donation basis with extensions like AdBlock. But shifting to something similar on a comprehensive scale will be something else entirely.

Interestingly, Google’s angle appears to be in increasing user safety. The Verge reports that their initial suspension of paid extensions was put into place as a response to products that included “fraudulent transactions”, and Google’s subsequent responses since then have comprised more user-facing actions such as removing extensions published by different parties that accomplish replica tasks.

Review manipulation, use of hefty notifications as a part of an extension’s operation, and generally spammy techniques were also eyeballed by Google as problem points in their ongoing suspension leading up to the ban.

In banning extension payments through their own platform, Google addresses a compelling, if self-created, issue. The extension store was a relatively free market in a sense—something that, given the number of parameters being enforced as of now, is less true for the time being.

Similarly, one can only wonder about which avenues vendors will choose when seeking payment for their services in the future. It’s entirely possible that, after Google Chrome shuts down payments in February, the paid section of the extension market will crumble into oblivion, the side effects of which we can’t necessarily picture.

For now, it’s probably best to hold off on buying any premium extensions; after all, there’s at least a fighting chance that they’ll all be free come February—if we make it that far.

Continue Reading

Our Great Partners

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Emerging Stories

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!