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Showing posts with label fashion marketing. Show all posts
Showing posts with label fashion marketing. Show all posts

Walls Coming Down: How Social Media Breaks Down Barriers and Optimizes Communication

Posted by fashionentrepreneurreport On Saturday, April 17, 2010 0 comments
Heidi Sullivan VP of Media Research and Jay Krall Manager Global Product Management at Cision dissected the ins and outs of getting your brands out there through social networking. Public Relations professionals and solo business owners alike were taken through the guidelines and best practices for the rapidly growing media phenomenon.

Which Walls are coming down?

• Between Traditional media and social media

• Across types of social media

• Between your personal life and your professional life

• Between Public relations and the public

• Across job functions

1) Between Traditional Media and Social Media

“All media is social and all social is Media – Steve Rubel, Edelman Digital

90% of the blog sites are amateur, 10% professional journalists. Most bloggers don’t work for media professionally but that doesn’t mean that they are not passionate about their topic, or researching the proper information. Develop a relationship with anyone that has a bullhorn

There is more transparency in social media. People seek compelling content from social sources and journalistic sources equally as much instead of in the past where they got news content from journalistic sites only.

Facebook now drives more traffic to Perez Hilton and the Huffington Post than Google does. – WebProNews, May 2009

2) Social sites are increasingly interconnected between each other.

• Sites seek to be sources of content rather than destinations

• A variety of applications help users syndicate across multiple networks, but beware: this can look robotic and unsocial.

How do you measure success results in social networking across many outposts:

Is a Facebook friend worth as much as a Twitter follower?  For measurement purposes, yes, a person you’ve reached with a message counts the same on every platform. Ask questions like…

• How sticky is my content

• What will make people come back?

• Does my content incite people to take action or share something rather than just read or watch?

• Can those reactions be counted?

3) Between Personal and Professional lives:

Be as different as you can be when it comes to social media” – Scott Kleinberg, Social Mediaologist and Buzzmaster, RedEye Chicago

• Best practices when engaging personally and professionally

• Pick the right representatives

• Keep it clean (and do it regularly) (like old high school friends vs. work colleagues, you can limit what each group sees, there are ways you can do that)

• Be careful with syndication (if all you’re doing is pushing your own content you will look like a robot and people will not come back and read you

• Group your friends

• Embody the personality of your brand

People don’t want to engage with a logo. People don’t want you to just spit info out to you and then not have responses or communication. Be a VOICE of the brand.

Once you start to communicate you will see people start to push your message out for you.

4) Between Public Relations and the Public


There is now a conversation shift. The traditional way of getting a brands message out there used to be (PR to the Media, Media to the Public)

Social Media is now looked at as “US” a community, where you basically take out the traditional roles of PR, Media etc. and just have a group of people discussing and commenting on like things. Which allows you to tap into consumers directly.

5) Social Media for Internal Communications

But I don’t work in…Customer/Client Services, Product Management, Marketing, Public Relations, Sales, Support yet I am in charge of the social networking for the company… What now?

• Integrated Engagement Best Practices

• Don’t be afraid to respond quickly and say “I don’t know” (remember to follow up though!)

• Communicate with other social media brand representatives

• Create a social media policy for your company

• Use others’ expertise to provide great customer service

• Open up internal communications to provide consistent messaging

For more information go to:






-Lynn Furge
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I am a Serial Entrepreneur: What am I doing?

Posted by fashionentrepreneurreport On Tuesday, April 13, 2010 1 comments
What exactly is a serial entrepreneur?  According to BusinessDictionary.com, it's an entrepreneur who continuously starts new businesses instead of committing to one role of a company venture.  New York Entrepreneur Week April 2010 brought together four unique serial entrepreneurs to discuss the pros and cons of managing their numerous businesses.  

Expert panelist included: Jeff Stewart, Founder of Urgent Career & Mimeo, and Member of NY Angels, Jennifer S. Wilkov, Founder of Make It Happen, Ben Kaufman, Founder of Quirky, Natalia Allen, Founder of Design Futurist, World Economic Forum Young Global Leader, and moderator Rod Kurtz, Executive Editor at AOL Small Business. 

Learning from failures and starting a business can be an all-consuming process.  The process of starting your business, should be your business.  According to Jeff Stewart, "The decisions you make in your first couple years will effect the structure of your company for years to come." 

If you're an entrepreneur, you have to able to fail, pick yourself up, and find useful ways to learn from it by building upon lessons learned.  When you have multiple businesses, take your time and attention on compartmentalizing them and watch them grow.  Jennifer S. Wilkov, Founder of Make It Happen, suggests assigning days of the week to focus on each business and design your teams to work efficiently.  Always remember to focus on quality over quantity.

Ben Kaufman, Founder of Quirky says, "Every decision I make, I base it on the best interest of me, my team, and the people working closest with me."  It may help by viewing your business as a personal journey, with you as an entrepreneur taking the leading role.  

Serial entrepreneurs need to be effective in the face of adversity by staying calm, listening, and acting on the things you didn't initially know.  Having the right people advising you can put you in the right direction.  Relying on people that can provide appropriate and efficient guidance as your support system can be a helpful outlet.

If you want to attract authentic relationships, be genuine.  It's great to have a diverse range of entrepreneurs in your network.  When you're doing something special and interesting you will attract a lot of people, but make sure you're aligning yourself with the right people that will help grow your business.  

Jeff Stewart believes that, "Assembling your team is the most important part of assembling your business.  You should be constantly looking to hire exceptional people that will contribute to expand your business."  Know your team inside out and spend your time and attention wisely.

- Katie Evans

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Targeting the Media to Build More Productive Relationships

Posted by fashionentrepreneurreport On Thursday, April 08, 2010 0 comments
The title entrepreneur makes it mandatory that you wear many hats, including that of being your own PR agent. But with Public Relations there is protocol, and even within the "rules" there is the expanding world of Social Networking who plays an entirely different game.

Here's some things helpful tips from the experts at Cision of what to do- and NOT do- to improve your hit rate with the journalists who really matter and in return target the media to build more productive relationships. 
 
What's the Problem?
Journalists are consistently complaining about misdirected pitches.  Some professionals have gone as far as blacklisting inappropriate pitchers.  Chris Anderson wrote a blog post entitled, "Sorry PR people: You're Blocked", and actually listed the names and emails of those he had currently blacklisted.  While a Contributing Editor from Wired said, “Pitch me stories.  I write features, which means I need good characters, conflicts, tensions and interesting pitches".  Make sure you are doing your homework and giving properly directed pitches to the correct people.


Journalists still need PR pros
Current research has discovered that 44% depend on PR pros for interviews access to sources and experts.  Although the rise of social media and blogging has helped journalists tremendously, public relations is still something they rely on.


Finding and Hitting Your Own Bull's-Eye
News is consumed differently now so make sure your content is mobile friendly and easily assessable for your audience.  There are niche sites for pretty much any topic you could think of, if you do your research correctly, you can get the closest to your target.


Social Media's impact on PR & the media
Remember that the focus is on the social capital of the journalist, not the outlet.  Since news is consumed differently and through various different outlets, make your sites available to everyone.  By targeting your specific audience you become more direct-to-consumer friendly.  But most importantly, remember you're dealing with communities, not audiences.  You have the power to directly have a relationship with your consumers.  

Key facts that make up your New Media Mix 
- What is my goal?
- Who is my target audience/community?
- How visual is my story?
- Is my idea timely?
- Is my news actionable - and how?


Blogger Outreach
Just because you can reach out to a blogger, doesn't mean you should.  Building relationships with bloggers takes time.  You have to fully understand their specific niche.  Truly influential bloggers are made up of almost 10% professional journals and 90% independent freelances who are passionate about their topics.  Do not ignore the little guys since there is no such thing as "off the record". 


Research the Outlet
Take time to look at writing style, voice, and tone.  After understanding everything they cover, research what they don't cover since this could potentially save you time down the road.  Here's a tip from a Managing Editor at Popular Woodworking; "Send us information that is useful to our readers.  If you look clearly at our Web site and (pitch the areas) in which we cover, I will look at your pitch.  If the sender does NOT do their homework, I will not look at the pitch".


Identify the Right Contacts
"Pitchers should do their homework. I often get things that are completely out of the realm of what I do." - Movie Editor, Philadelphia Daily News.  By looking at past bylines, reports, and posts you start to identify the right contacts and can target them more efficiently.


Developing Relationships
Start developing relationships by researching past coverage of the individual you're pitching to.  Find a current article they've written and reference it.  Send an introductory e-mail complimenting their work.  Or start by asking about current and upcoming story ideas.  Comment on their blog posts or online articles and follow them on Twitter. 


Quality VS Quantity
A Reporter from Modern Healthcare says, "The ideal package is a press release attached with a personalized message: here's why you should care, here's the newsworthy element...".  And an Entertainment Reporter from WABC-TV agrees by adding, "...a great pitch, shortly done, gets me to do things, and that makes me happy, because that makes the client look good, you look good, and me look good".  It's better to send out fewer, personalized releases and never send a release/pitch without an introduction.  Your introductions should be clear and brief and even if your release isn't used, your contact will appreciate effort.


Respect Preferences
Through surveys, researchers have discovered that most contacts prefer e-mail.  Don't leave long voicemail's or follow up via phone unless you are required to do so at your job.  And, if you haven't heard back, don't panic, but also know when to step back and when to push.


Deadlines
A Reporter from the Milwaukee Journal Sentinel said, "Earlier in the day is always better, as opposed to calling me with some huge store idea at four in the afternoon, when I'm on deadline".  With this being said, be aware of lead times/editorial calendars.  Do some research on their companies to recognize their usual business hours which will help you determine the best time of day.  Also, know their policy on embargoes.


When in Doubt, Include an Opt-Out
Your subject lines must be accurate.  For example, if sending a press release, don't be shy about identifying your message as a press release.  Also, share with recipients how to opt out of receiving future emails from you and honor their opt-out requests promptly.


Be Prepared, and Follow Through
Have the right spokesperson available and the necessary product information lined up.  If you are suggesting a story that needs to include opinions from several different people, have their contact information and availability ready for the journalist


Steps to follow to create a great pitch: 
- Know your pitch inside and out
- Find contact on Twitter; do a Google Byline search
- Send a brief e-mail to introduce yourself and why your pitch is a good fit for them
- Be transparent, for example, tell them if you're pitching the story elsewhere
Make all your resources available and even if the pitch isn't used, you've still established a relationship!


Here are some tools and resources provided by Cision to help you target productive media relationships even more... 
  • Blog.cision.com
  • Navigator.cision.com
  • Journalisttweets.com
- Katie Evans

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The Fashion Cross Over

Posted by fashionentrepreneurreport On Friday, February 19, 2010 0 comments
Robert Duffy President of Marc Jacobs has begun to twitter and is using it to not only start a ticket giveaway to the famed Armory show that happened last night.  They also did live feeds from the show even going as far as leaving a “personal note” on the Marc Jacobs website to invite people to come, watch, and spread the word via facebook.
In the world of social networking and staying in touch minute by minute brands are grasping at any straw they can to stay relevant.
The Mercedes Benz fashion week tents has allowed tweeters from all over the world to give their fans minute by minute soundbites into the world of fashion from backstage to the designer’s final bow.
With that said during event season it is always possible to garner the attention of fans and new clients, but what should a fashion business do in between seasons?  Here are a few new products that prove the fashion community is trying to stay on top of the Mobile Application bringing new meaning to anything you want with the touch of a button.
Shop View
A new Iphone App $1.99 app gives you a 3D tour of the local shops on Oxford Street in London plus links to their websites and Twitter feeds of special sales.
Trendstop TrendTracker
This new app not only selects the season’s trends for you but also gives you fashion events and venues around the globe.
Chicfeed
This app focuses on street style, bringing you updates from the most popular blogs, including the Sartorialist, Face Hunter, and Altamira where users can see up to the minute influential fashion from the real people shopping.
myFendi
The ultimate application for the Fendi fan lets you classify your favorite looks by the label and locate the closest store. As a special gimmick, this app also mixes and matches Fendi items with the clothes in your wardrobe.
Love It or Lose It
Can’t decide what to wear? Love It or Lose it ($1.99) lets you send up to three pictures of an outfit – from the store, your room, or wherever you are – to your friends or the app’s online community, giving you instant feedback on how you look.
The key thing to take out of these apps is ingenuity where there is something for every type of client.  Instead of trying to reach a much wider audience businesses are using these add-ons to create a better customer service platform for their existing shoppers.  And as the news of that spreads, the numbers will grow.
- Lynn Furge
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Chictopia.10

Posted by fashionentrepreneurreport On Saturday, February 13, 2010 0 comments
The Allegra Laviola Gallery in NYC was packed with fashion bloggers, independent designers, and social media marketers.  The day started with opening remarks from Helen Zhu the CEO of Chictopia followed by lectures on the trends associated with fashion blogging, fashion bloggers being approached by PR agencies and brand marketers, why we value individual style, the secret recipe to social media marketing, and showcases from the following designers: Corvus Noir, JCheikh, Triskaidekaphobia, Alexandra Grecco, and Alyssa Nicole.
Here's what you should know about what everyone in social media and living in the blogging world are talking about...


"Fashion Blogging, is this a trend?"
- Liz Cherkasova, blogger, featured in F21, Glossy Magazine, and Elle.com
- Susie Lau, Editor of Dazed Digital, Susie Bubble
- Danny Roberts, fashion artist, Igor and Andre
Blogging is all about honesty.  Your readers can feel your tone, get to know you as a person, and can pick up on any type of fakeness.  There are so many opportunities in fashion through blogging, so be yourself and the followers you want and will connect with will come.  Blogging is always evolving so stay up with the newest trends whether it's video's or livestreaming.  One important tip from Liz Cherkasova about advertisers approaching you was, "Make sure if you choose to have advertisements that they make sense, it's helpful, but there's a fine line between too many".


"Fashion Bloggers being approached by PR Agencies & Brand Marketers" 
- Rebecca Stice, blogger, The ClothesHorse
- Judy Aldridge, blogger, Atlantis Home
Don't forget that most of your readers are normal people with budgets and limits so be personal and specific.  Although it takes a lot of effort, having the best quality images is huge for any blogger.  Also, if you can monotize your blog, advertisers will start to come.  Although it may seem like a good decision for you to accept advertisements, be careful.  Too many banners or advertisements can bring the quality of your blog down.  If you do decide to go with advertisements or collaborations think long term.  Your readers should evolve with you so this will bring more self-marketing to your blog and give you a real identity.  


"Why we value individual style"
- Susan Koger, Founder, ModCloth
-Naomi Nevitt, New Media Specialist, former TeenVogue.com Fashion Blog Editor
- Dave Cook, Director of Marketing, The Find
- Jennifer Wexler, Marketing Director of Botkier
This panel was constantly stressing on putting yourself out there and connecting to other individuals through social media and build relationships with customers - BUT make sure you're listening to them.  Be relevant in your blog and use interesting content from an insiders view.  Through blogs and other forms of social media, were able to incorporate individual style which leverages opportunity for your business to grow.  Personal style isn't just fashion, it's how you live and keeps everyone in touch by bringing you into the conversation instead of having to search for it.  The internet just happened to change style through relationships and getting follwers to related to you as a brand.


"The Secret Recipe to Social Media Marketing"
- Helen Zhu, CEO, Chictopia
- Jess Lee, VP of Products, Polyvore
By combining your existing solutions with community support you can create a social media landscape.  The 3 Rules to this social media landscape should be...
Engagement #1) Go where people are
Engagement #2) Make it easy to participate
Engagement #3) Reward Participation


Authenticity #1) Be a face to a brand
Authenticity #2) Be inclusive
Authenticity #3) Understand your audience and integrate into your environment


Brand Advocacy #1) Influence your influencers
Brand Advocacy #2) Make it personal and about self-expression
Brand Advocacy #3) Turn your fans into social marketers


So, be accessible, honest, and don't hold back.  This is an interesting time in the media industry and there are no boundaries for social media, use this to your advantage!
- Katie Evans
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Entering the International Platform: From the Business Plan and Beyond...

Posted by fashionentrepreneurreport On Monday, February 08, 2010 0 comments



City sketch






























ENHANCED PLATFORM OF THE BUSINESS PLAN


A small business can be so consuming that it is difficult for an owner to stand back and realize what their business really needs and specifically what it needs to take it to the international level.

Upon deciding whether to enter the international market, there are suggested steps to follow in order to be successful. Aside from having a stellar product or service, it is imperative to have the following also in place.


1. Up to date graphics and business presence online and offline
2. SEO INSERT HYPERLINK analysis for international entry
3. An executable electronic customer database
4. A Market Entry Strategy- direct sell/use of a international representative
.
By taking the time and finding the appropriate resources to invest in the various facets of the business, an entrepreneur can reap great return and an opportunity for growth. Some businesses may only informational websites that never really receive the finishing touches that would leave a strong impression; or maybe the site is need of facelift. To regain ROI, a primary part of the business plan should focus on bringing website graphics and technology up to date. Return on Investment (ROI) and the cost of advertising are areas where ROI should be outlined.
Some business owners view advertising as a business expense when it should really be considered an investment in your business, especially if you would like to benefit from repeat business. If you have a quality product or service, your customers should return again and again so you can afford to invest even more to attract new customers. As Elizabeth Kalmbac, a Media Buyer of Keely, Scott, and Madison explains, “Head above water doesn’t really do much when there are competitors who spend money on advertising.  Don’t be afraid to call traditional media outlets.  There is opening to local advertisers because there is space to fill.”  She continues “As technology changes, media planning changes.  There are now a million and one places to advertise, find out where your consumers are and establish relevance.”
Amy Minnick of Southern Jewelry News comments on innovative techniques of effective marketing outside of the box. She says, “Years ago, very few had a marketing budget or a marketing plan. But today most retailers realize the critical nature of keeping their name out there” She mentions how a jewelry designer in Chicago teamed up with an upscale steak house to create a specialty martini to pair with a jewelry pendant. Diners purchase the pairing off the menu. It’s a win-win, as the steak house now can claim it has the most expensive martini in town.

Many small businesses cut corners by trying to do everything in-house. As a result, the professional image can be compromised. For example, an unattractive website can actually detract from business if it lacks professionalism, if the content has grammatical errors, or if the site isn’t drawing traffic from search engines. A service business that doesn’t have a live person answering the phones at all times is definitely missing opportunities. Always make clear what your office hours are and then commit to having a live person answer the line during that time. Consumers are often fueled by instant gratification and if a prospective buyer ends up getting your voice mail, there’s a good chance they will move on and call a competitor.
With the advent of online business, the business plan has become more challenging to detail just as the “target” customer has become harder to pinpoint. Especially from a designer’s perspective, the “target” customer may only be one person if it’s haute couture and perhaps a small handful if designs are replicated. Also, you may have a representative that will showcase your line. Your demographic may not be as narrow as you think if your representative exhibits your products across many trade shows and press and media outlets. These are important factors to keep in mind when and if you are trying to readjust the traditional business plan. A small business can be so consuming that it is difficult for an owner to stand back and realize what their business really needs and specifically what it needs to take it to the international level.
David Brown President of Retail Edge Academy says, “The biggest difference between a successful store owner and an unsuccessful one is the ability of the owner to concentrate on the important rather than the urgent. That is, as an owner, to maximize profit, one should focus on the larger picture of business planning, not the mundane tasks that you could have an assistant or intern help with.”
Nowadays, with more entrepreneurs entering the business place, the business plan needs to incorporate more of the creative examples that are occurring in the industry. Embellish your plan as much as possible or have an appendix with like minded stories that help your business strategy. One of my favorite business stories is Big Buddha, an inspirational success story of a handbag designer that started selling handbags from his dorm room. His story shows that with a passion to sell one’s brand, without any professional training or experience in the industry, anything is possible.

City SketchFINANCIAL PLAN
One of the most important components of your business plan will require a clear sense of the financial part of of the business planning.
I can’t emphasize enough how powerful software is, and with the plethora of smart phones around these days, there is no excuse why you should not always know how to calculate your pricing and what your components cost you so that when you need to access your data, you know that it’s always accessible. Especially if going on buying trips overseas or on a buying trip for supplies, it will be an essential tool to access your business information within seconds. Microsoft Excel can create formulas to help you calculate your Gross Margins and your Net Income. (and if you are unfamiliar with how to use the software there are a lot of videos on Youtube that can help).  You can easily create spreadsheets to house all of your data and the tabs within each spreadsheet will enable you to hold a tremendous amount of data which can all be easily accessed on smart phones. Investing in a three-hour class could potentially save you countless hours of wasted time—hours that could be used to generate revenues!
Finally, keep in mind the competitive forces that can affect you bottom line. Some may not be as measurable, but always figure in any additional city or state taxes, duties, and other items that can change your net income. Make sure you have your State Resale number, which exempts State Sales Tax. This can save between 8 and 9% on your cost of goods.

International GlobeINTERNATIONAL BUSINESS TIPS
When considering doing business with parties overseas, you should learn the basics of business development specific to that country. So, whether it is joint venture, partnership, or licensing, be aware of all of the things that will impact whether you set up business trading in another country. Excellent business development skills particular to the region you are looking to import/export to will be essential. That is, find out the different arrangements that can be made within each country with regards to your type of business whether it be in manufacturing or intellectual property. Of course it helps to know the language and to have local contacts, but don’t limit yourself to textbook learning, go and develop local contacts. There are subtle social customs of how business deals are made which can only be experienced first hand and I’d suggest reaching out to any contacts you have and arranging a phone meeting with someone has experience with the particular type of trade you’d like to engage in. Learning key vocabulary words and talking to an experienced trade specialist could have on your business. Also, local chambers of commerce and also national consulates are a great resource for trade issues. Always keep in mind the currency you will be buying or selling in, whether you want that to always be US dollars or not, which would be dependant the expected strength of your preferred currency at the time of payment. In some cases, you may not have a choice, and will be expected to be paid in the local currency, so just be mindful of the risks involved in this sort of arrangement.

Another key element for international business it to make sure your e-commerce platform is set up for international ordering. Suppose you have received really great press and international media, and all of a sudden you have a customer in France that wants to buy your products. Well, take the extra time upfront to make sure your shopping cart is set up for international shipping and the appropriate tax structure for international shipping. Now days most of this is automated and your webmaster should be able to set this up on the backend.
If you are planning to sell overseas via a trade show or trunk show, one of the most important tenants in doing international business is that relationships are key.  More so than in the United States, so remember to be multi-disciplined in this regard. Also, don’t let not knowing a foreign language deter you. Translators are easily available and highly recommended these days. And can be a great resource for many of the legalities that might arise. And finally, do understand how to get through the red tape of each country with your specific industry. You don’t want a lawsuit that can put the company out of business because you didn’t do your homework. Setting up bank accounts in foreign countries is quite easy now and with online banking becoming the norm, it’s very easy to keep track of such accounts and to create wire transfers.
Here’s a great guide to doing business in India:http://www.stylusinc.com/business/india/cultural_tip1.htm
Rani Khamesra is an online business expert with experience in international trade and buying experience within the luxury jewelry industry. She has worked at Harry Winston as a Planning Analyst and is currently focused on generating awareness within the DIY niche of the wholesale jewelry hardware business. Also, Rani is the President of the Professional Women’s Alliance of New York City. Please follow Rani on her blog http://www.houseofindia.com/store/myblog.php or contact her at rani@houseofindia.com 
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