Lerning annex

BLACKSOCKS.COM
«How to Launch, Run, and
Profit with Your Online Business.»
The Learning Annex
New York,
July 2010

BLACKSOCKS SA - Seefeldstrasse 301a - 8008 Zürich - Switzerland - http://www.blacksocks.com

Donnerstag, 29. Juli 2010

what's your
idea?



The idea:

«Like newspapers socks should be shipped to my
place whenever I need them. I would be best to
find always the same style.»

Because:
★ Nobody likes shopping for socks.

★ Everybody needs them all the time.

★ Nobody likes the hazzle of putting together socks after washing.



Our sockscription.

Order:
4 month later

4 month later

Types: Colors: Alternatives:
★ calf socks ★ black ✴ 4 shipments of 3 pairs

★ knee socks ✴ 6 shipments of 3 pairs

★ cashmere silk ✴ 1 shipments of 10 pairs

★ sneaker socks



The Price:

$ 89.-
(shipping included)



Why do we don‘t offer a female product?



think big
start small
but start



Find a name:

to be considered:
★ keep it short
★ often company are listed in a alphabetical order
★ invest in professional art work
★ protect the brand
★ use it.



There was not much more than the idea:

June 1999:
★ Number of customers: 0
★ Number of socks sold: 0
★ Awareness: 0
★ Marketing Budget (6 month): $ 500.-



Our Mission:

«We free the world from any kind of
sock sorrows by offering our
sockscriptions.»



Good quality is only the starting point!



let's go
online



Your online presence is just the starting point.

?
to be considered:
★ You need payment
★ You need a database
★ You need a newsletter tool
★ You need statistic
★ You should be able to change the webpage by your own



«The dream of the machine!»

clien
ts

Sock
s

Cash flow



promote
you webpage



Been talked about.

•Clients: Potential Clien
ts:
•Customer S • Public Relat
ervice ions
•Shipments •Flyers
•Recommend •Promotions
ations
•Newsletters •Online Market
ing

Good experience. Good impression.



Been reminded.

•Clients: ★ We reply to every e-Mail; worldwide only
•Customer S 40% and in Switzerland only 70% of e-
ervice mails to websites are answered.
•Shipments
★ We deliver fast within 48h local customers
•Recommend have their socks.
ations
•Newsletters ★ We try to surprise with every shipment.
★ Member-gets-member works fine.
★ Tell a friend is easy.



«Moment of truth» : Every shipment a Event.



Entice - Bribe - Extort!

!
ibe
Br

★ Each recommendations earns one pair of free socks
★ About 28% of our new customers comes through
recommendations.



Tax-free: your personal sock-account



Too many Socks!

Order:

4 month later

4 month later



Keep in contact with your customers!



After buying is before buying!



Been recognized.

Potential Clien ★ Word of mouth by it own is
ts: not sufficient.
• Public Relat Innovations are creating
ions ★

•Flyers news value.
★ If people are not visiting us
•Promotions we are visiting them.
•Online Market ★ Together with partners we’re
ing often doing barter deals:
margin for publicity.



Sometimes it just happens.



And the winner is!



2005: Twice in the daily news.



Does size matters?



Search Engines: SEO & SEM



Facebook Adds



Lucky in Brazil.



Build a brand



Little advertising.



Flyers: Broshures for your wallet.

★ If people don‘t want to come to us
we go to them.
★ Sometimes we even distribute
cheese flavored jellies.



re-invent
yourself



Innovation: St. Valentine is all about socks!



«Better than the Stock Exchange»

September 2002:
★ Stocks are down.
★ So are the future incomes of all the pension funds

★ Blacksocks launches the Lifetime-Sockscription:
★ Runs: 25 years
★ Discounted by 5%
★ Example:
★25 time 3x3 Sockscription: CHF 2’450.-
★Net present value: CHF 1’450.-

★ Results:
★ articles in major news paper, invitation to biggest talk show
★ About 42 Leads
★ Sold up to now: 9



License to bar foot:



The idea 2: underwear collection.



After 11 dark years - We proudly present: colors



Get a rhythm



To get things done - the best is rhythm

What are you doing:
★ daily
★ weekly
★ monthly
★ quarterly
★ yearly

★ We do believe in economy of scope
★ Therefore we do believe in long time relations.



Be successful



There are copy-cats.

Most of them will be gone by next spring:

– www.gents.ch www.sockenprofi.de
– www.sockwear.de www.e-socks.ch
– www.newsocks.de www.GetSocks.de
www.bonsche.de/socke.htm
– www.sockenimabo.de
www.socksinblacks.de
– www.socken-und-mehr.de www.sockenportal.de
– www.socksinabox.de ...
– www.activsocken.de
– www.socken-haus.de



Now we are a little company

June 1999:
★ Number of customers: 0
★ Number of socks sold: 0
★ Awareness: 0
★ Marketing Budget (6 month): $ 500.-

July 2010:
★ Number of customers: 50‘000
★ Number of socks sold >1 Mio
★ Awareness: 40%
★ Marketing Budget some
★ FTE’s 4
★ number of people 7



Customers from 75 countries.



It seems to work!

4'000

3'000

2'000

1'000



There is room for improvements.



Do you still buy or do you subscribe already?

BLACKSOCKS SA - Seefeldstrasse 301a - 8008 Zürich - http://www.blacksocks.com


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