In our quest to find innovative business ideas in the fashion industry, we have now already reached the third part of our journey. Now, we decided to concentrate our inquisitive efforts towards the successful story of a quite newly-established Californian company.
The fashion industry player we are referring to is Volga Verdi, a company founded in 2010 and specialized in designing and manufacturing super bright clothes. Its audience target is formed by hip and always in trend people, who want to impress and escape grey shades and neutrals; people in love with color.
Color and innovation in the fashion industry. Photo source: volgaverdi.com
We found their story innovative because of the ingenious connection they have made between their customer’s social media usage and sales. More exactly clothes discounts. But how does this work you might ask yourself? Well, Volga Verdi implemented a system designed to reward customers having an intense presence on social networks. This greatly boosted sales and the overall visibility of the firm.
The San-Diego based company offers each customer various discounts for its first line of bright T-shirts, if the person promotes its products online, more exactly on the social media channels he or she uses. You can either like their page or certain products, post a status including their name or about one of their products, tweet or post the data and then you already qualify for a discount for their products.
Volga Verdi’s marketing strategy is a hit in the fashion industry. Photo source: volgaverdi.com
The bigger the expose of your tweet, the bigger the discount they give you. So, the more friends you have on social media (Facebook, Twitter, Google+, Tumblr, Kohtakte or Lookbook.nu), the bigger your discount can be. In the end, you can get up to 50% discount. For example, for Facebook: you get a 5$ discount if you have between 30-150 friends, 7$ between 150-1,000 and 15$ for more than 1,000. While for Twitter, you get a 7$ discount for 20 up to 200 followers, and 15$ for more.
Peter Green, the owner of Volga Verdi, was the one inventing this rewarding mechanism, which he called ‘the Exchange’ concept. He says that: Remember, social information is very different from regular ads and banners, as it comes from your friends or people who you follow, meaning whose opinion you trust or find interesting. He reckons that sometimes people base their picks more on feedback received from the ones they know and trust, than from what they are presented with in ads.
How about this easy peasy way of getting discounts for good quality, nice-looking clothes? We find it really innovative and cool!
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