FN Summit: Rebecca and Uri Minkoff on Social Media

Photo via WWD
Rebecca and Uri Minkoff are a fashion power couple, but not in the traditional way. The brother-sister duo seems to have it down. Rebecca Minkoff, which launched in 2005 as a lifestyle brand with a focus on accessories, has not only grown rapidly, but is also expanding rapidly. Clothing was introduced in 2011, Shoe sales are up 100% this year, and they have a successful marketing strategy using an unusual platform: Instagram. Well, unusual in terms of marketing. Brands normally run ads in magazines, make commercials, or have billboards with the models faces splashed across Times Square. But with the rise of Social Media, brands are finding all kinds of new ways to reach their customer. And the Minkoffs’ pride themselves in being “pioneers of the digital space” according to Uri, so it makes sense that they are the first brand to leverage Instagram in such a new way.
Rebecca’s Shoe of the Day– via Rebecca Minkoff Twitter
The Minkoff’s Instagram ‘campaign’ started with Rebecca simply posting her shoe of the day or her outfits, and people responded, and copied. She often gets several hundred likes and comments within the first hour of the photo. This is not only a way to reach the consumer in an unstressful social media environment, but it is also a great way to get feedback about their designs. Customers can comment on what they like and don’t like and the Minkoffs’ take all that into consideration, because after all, the more engagement with the customer, the better.
Of course, this advertising leads to a lot of traffic on their site or partner sites, because an instagrammer will often ask where the product is from, who it is by, etc. The Minkoffs once posted a picture of one of their bracelets that wasn’t selling very well, and the sales instantly went up. Though the Minkoffs have found that solely sales work hasn’t worked, people like to have a human connection, and they like seeing a personal side of Rebecca. The Designer, Mother, and Entrepreneur enjoys showing her followers everyday life, because there is “something nice about seeing something you might do shown by your favorite designer,” she says, “even if it is just a normal thing, people relate to it.”

FN Summit: TOMS

Blake Mycoskie, founder of TOMS, is not only philanthropic and giving and all that jazz, he is absolutely adorable. For such a successful guy, he is so down to earth, and so excited about giving, which not only “feels really good,” but is also a really great business.

Photo Courtesy of WWD

In case you didn’t know, Blake Mycoskie founded TOMS after a trip to Argentina in 2006, where he saw that nearly every child was lacking shoes. Often, in less developed countries, a child needs shoes in order to go to school. Blake told the story of a woman with three sons, who would share one pair of shoes, so each could only go to school every three days. The woman was so excited by the shoes, and that her sons would all be able to get an education. Before that experience, Blake had no idea just how big of a change he was making, he was trying to make a self-sustaining business so he could continue with his software company. Every time you buy a pair or TOMS, a pair is donated to a child in need.

Photos Courtesy of TOMS
       

But today, Blake talked about the business that has skyrocketed since it’s inception in 2006. He stressed the importance of a story. The story of TOMS allows the company to differentiate from other shoe companies, and has since the beginning. He told a story of when he was at JFK, and not wearing TOMS. He saw a woman, a total stranger, wearing them, in red, so he asked her about them. Which is something I would totally do too, if I saw my product on someone. What better way to get the truth? Unless you don’t want to hear it… When he asked her, she told him, and seemed upset that he wasn’t more interested. So she apparently grabbed him and started yelling about how great they were! And why didn’t he understand?! Every time someone buys a pair they give a pair away! He told her who he was, probably to get out of her death grip, and she responded by asking why he had cut his hair. The point is, the TOMS story sticks with people, so much so, apparently, they yell about it in airports. Which is actually, pretty cool.

Blake also stressed how important it was to see your brand out there, in the stores, with the people, which makes it necessary to have employees who can fend for themselves while the chief sole giver is away on business. He once went on a road trip and made 82 stops in 94 days, so his employees were by themselves for about three months, but ‘management by absence’ is one of the most important parts of his business.

Though TOMS is extremely successful, they have a had a few things that didn’t work. Blake explained that when he first started out, he wanted to be the company that got rid of shoe boxes. He hated them. So he shipped out the first batch of shoes in canvas bags, and he “thought it was brilliant.” But then, like all strings do, they got themselves all tangled, and the TOMS were trapped. So the shoe boxes returned.

His super popular white TOMS you paint yourself were also made by accident. He accidentally ordered 15,000 pairs of white TOMS, and “who want’s white TOMS?” Umm…Me! So he convinced people that getting white TOMS and decorating them yourself was the collect thing in the world. And it was all just to get rid of them, but they have become one of the most popular sellers, especially for birthday parties.

TOMS Glasses

And, just in case the shoes aren’t cool enough, TOMS recently launched eyewear, and have started distributing the shoes on Indian Reservations in North America.

And finally, for your viewing pleasure, here we are- smiling kind of awkwardly…but oh well. Just look at him, he’s who this post is about, after all.