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Blog - Business Model that Works!
Accessories Darling Rebecca Minkoff Tweeting Her Brand to $30 Million
I'll admit it - I'm a Minkette! No, that isn't a version of a Mousketeer, instead I'm one of thousands worldwide who follow, carry, and are loving and living the accessories (and now fashion) brand created by Rebecca Minkoff. WWD covered the social media savvy designer and the article was great food for thought, more below:
So popular is her brand that beyond the usual social media venues, they launched their own Minkette.com, which enlisted 5,000 followers in its first 10 days! Beyond her namesake social media site, Rebecca is an avid user of Twitter and Facebook, sharing everything from new designs to photos from her wedding this past summer (gorgeous!).
This modern approach to marketing and business seems to me to be almost a way of taking it back to the basics, with a modern twist. She's able to connect with consumers, stores, buyers, and her public on a more intimate level. As Rebecca herself says, “We want to use social media to understand what our customer wants as well as help our retailers. We want to ensure that our product sells and we want to work with our retailers as much as we can.” They believe in this direct relationship model so much that they have actually left their showroom and are working with retailers directly!
Read more about Rebecca and her future plans and social media lessons in August 24th's issue (online as well) of WWD. You're sure to take some lessons from this fashion success story about how to re-connect with the people who at the end of the day will be the success or failure of your brand, and you're sure to be re-inspired to look towards the future in terms of social media outreach.
After all, as Minkoff says, "When there’s turmoil and chaos in the market, and when old things stop working, you need to seize the moment and become a leader”.
Business Model that Works! Peter Shankman builds HARO into Million Dollar Business in One Year
Way back before we even launched the Collective-E website, Sabina and I sat down for cheesburgers and a one-on-one interview with larger than life Peter Shankman. After discovering that both Sabina and Peter have a love of karaoke and show tunes, we dove into business. We were impressed by his simple, effective and very profitable business model, a three time daily newsletter of PR and media opportunities from journalists with a paid advertising model that consisted of a clever blurb at the beginning of each email that costs at least $1k. It seems quaint looking back, but at the time we were talking about his 20,000 subscribers. Now, according to his latest press release he has over 80,000 members and over a million in revenue. Congratulations from the Collective-E team. Click to read more about Peter's current stats >
Here are some “How Did You’s” from our original interview with Peter, his t-shirt story is classic.
Peter Shankman : How did you start your first advertising agency?
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Business model that works! Threadless generated $10 million profit on $30 million in sales
In our quest to find and learn from business models and revenue strategies that are working now, we came across our friend and business planning guru David Ronick's Upstart Ventures Blog and his in-depth description of the hugely successful Threadless business model.
The Threadless profit margin is making the fashion industry drool, but anyone in any industry can learn from the Threadless business model including how to use crowdsourcing, create a loyal following, and drive traffic. To read the entire article click here >
Note: David will be speaking at our September 15th event Starting with the End in Mind: Building a Business You Can Sell
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Collective-E is a worldwide collective of women entrepreneurs who have come together to achieve faster movement, exponential increase in resources and abundant support. We (and by "we", we mean founders Katie, Sabina and Beth) blog about tips in the four principals that drive Collective-E: business strategy, pr strategy, online strategy, and community. Plus, we have special guest bloggers share their wisdom.
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