How an entrepreneur made $25,000 from selling socks on Instagram
Selling online is a mystery to a lot of people but it shouldn’t be so. You can use some of the same strategies you’ve seen offline to create a massive following on Instagram. In today’s podcast I share how an entrepreneur used the strategy of Leverage to sell socks on Instagram.
What did he do right?
He found out that his target market were always visiting the pages of models on Instagram. He also found out these models do not make much money so he offered them cash in exchange for a free post. All the girls had to do was wear his socks and upload a link to his site. It is what I call, real life product placement. There is a movie called the Joneses that also explores this concept. It’s not a very good movie but the concept comes across pretty well.
Here is the trailer.
The principle of Social currency
When we see enough people do or wear something, it registers in our minds that it is acceptable. This is one reason the fashion industry makes so much money. They literally have their customers parading their goods as human billboards. Apple’s white headphones is a classic example of such pervasive marketing.
You can use the internet to do the same with your brand. When I was Head of Marketing at HTW, we increased our revenue exponentially by uploading photos of people wearing our bracelets. This made prospective clients believe a lot of people were already on this trend so they wanted to get in on the action as well. We went even further with this strategy by printing out these collages on cards and attaching them to products.
The strategy is simple. Find people who already have the eyeballs and wallets of people you would like to cater to. Offer them a mutually beneficial arrangement to promote your products and services. Add a cherry on top by offering to give them recurring income from future sales.
To go even further than this, find up to 10 people who have between 10,000 to 100,000 likes on Instagram and get them to take photos or videos of themselves
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