STRATEGY
The Urban Tie A MEN’S FASHION ONLINE MARKETPLACE + COMMUNITY
KRISTIN SOMIN / LINDSAY TOMARO / ZACH BUSSEY / E YIWEI ZHU
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TABLE OF CONTENTS PROBLEM
1
SOLUTION
2
SWOT ANALYSIS
3
BUSINESS MODEL TARGET
4-6 7 - 10
COMPETITION
11 - 14
WEB DEVELOPMENT
15 - 18
CREATIVE
19 - 20
SEARCH MARKETING
21 - 24
SOCIAL MEDIA
25 - 29
MOBILE STRATEGY
30
PROMOTIONS
31 - 34
BUDGET
35 - 36
Fashion and fashion trends are becoming increasingly popular and so are e-commerce websites that help
PROBLEM
promote the latest trends. In recent years, fashion trends have shifted from being brand focused to style and trend focused. There are many blogs and websites dedicated to putting together outfits with the latest styles, but mostly targeted towards women.
The underlying problem with this is that there are many men who enjoy fashion as well and may be looking for similar thrift-type websites, but are unable to find them. Many consumers have a lack of time to be able to go out and shop for new clothing and find items that they really enjoy and like. Also, thrifting is very popular, but there are not many companies online that primarily sell thrifted products, again specifically towards targeting men. Men also often gets overwhelmed by fashion information if they are not interested and e-commerce may also seem overbearing to them as well. By creating a space just for men, they can feel more at ease. As of now there are not many websites that are affordable for men’s fashion, only sites highlighting very expensive products. By creating a thrift type store online it will also help men feel more connected to the growing trend of recycling clothing in fashion.
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The Urban Tie is a consumer-to-consumer online shopping website that allows men to explore, thrift and
SOLUTION
sell fashion merchandise. It is a perfect space for men who love fashion and men who simply need a personal style coach to join and mingle. The Urban Tie offers men a simple and affordable way to shop and learn more about style through minimal and
trendy design throughout the website, The Urban Tie is easy to navigate for users and provides the most relevant information. The website consists of 3 parts: Buy and Sell, Editors Pick, and Lifestyle + Socialize. Users can register as sellers or simply explore what The Urban Tie has on site. Moreover, for men who want styled-ready outfits and a faster shopping experience, Editors Pick should be their first stop. Each week, The Urban Tie editors will pick out 5 different outfits that include purchase links and feature them on the front page .Users can easily purchase these outfits or similar styles by clicking the provided links. Moreover, through Lifestyle + Socialize, The Urban Tie wants to create a community that shares trends and thoughts about things that are beyond fashion. Grooming, interior design, fitness and anything that a fashion-conscious men would be interested could be shared in this section. We want to connect men who share similar tastes not only in fashion but in life.
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SWOT ANALYSIS STRENGTH Innovative option for men’s fashion Niche market
Upward mobility in the market Add a women’s segment
OPPORTUNITIES
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WEAKNESSES Trust and credibility Low user rate Competitors (Ebay, Yoox.com, ASOS, Poshmark) Thrift shop business model gaining popularity in both online and in-store because of poor economy
THREATS
As with any e-business model, the ultimate goal of achieving a competitive advantage to generate revenue
BUSINESS MODEL
must exist while proposing value to the customer. Many times, companies may have more than one model in place, as is the case for The Urban Tie. With every e-business model, there are certain levels of commitment that help define the business model. The Urban Tie will utilize various business models while touching the main points of several levels of commitment.
For The Urban Tie, the first applicable level of commitment is the activity level. This involves planning out how to accept and process orders online from customer buying and selling interactions. Much of what is done in this activity level sets the basis for online advertising, promotions and overall business intelligence. As the company website will equally rely on online advertisements and promotions, as well as online purchasing to generate revenue, commitment to the activity level can be critical to the businesses survival. In accordance with the activity level, all of customers have 24/7 as well as stored purchasing information such as credit card information. As for the business process level, the company will use a database marketing approach in order to tailor our direct marketing efforts to different customer preferences.
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In addition, the company will function on an enterprise level due to the social networking and brokerage
BUSINESS MODEL
functions. The broker model aspect will come from users buying and selling second hand men’s clothing products through the website, while the social networking will come from users interacting with one another through The Urban Tie Lifestyle + Socialize section. Lastly, as the company functions on the pure-play level. This is due
to the solely internet presence, as well as due to the challenge of establishing the new brand of The Urban Tie. As mentioned before, since our company offers both an online “thrift” community for men’s clothing in addition to fashion and lifestyle tips, we expect that many users will not necessarily generate revenue. Therefore, it is important for our company’s survival to include aspects of an advertising model. By utilizing an advertising model, we can make up for the users who we are not conducting e-commerce and exchanges by generating revenue through advertisements. Advertisements may be broadcasted throughout the website, and ideally would be soliciting advertisements pertaining to men’sfashion. These advertisements may include, but are not limited to: shoes, men’s accessories, suits, etc.
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As The Urban Tie is a company composed of individuals
BUSINESS MODEL
selling men’s fashion wear, the company will also be utilizing the brokerage model. Users who have registered for a Frugal Fishbowl account will have the option of buying and selling second-hand products. We expect that a substantial portion of our revenue will be generated from this model in addition due to a 20% charge to each sale made through the website. Overall, the levels of
commitment and various business models ideally will work to the company’s advantage. Another unique feature that The Urban Tie offers is able to ability to interact through a community model. Through the built-in Frugal Fishbowl Lifestyle + Socialize section, users can interact with one another via blog where they can offer fashion advice, post recent trends, etc. Through utilizing thismodel, a network of men’s fashion bloggers is created that augment the function of the overall website in addition to further engaging users.
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TARGET
Men 16-50 who appreciate fashion, digitally savvy, want to explore more clothing options Women 16-60 1 who want to purchase or sell for their loved ones
TIM Tim is a 28 year old law school student who has to balance his busy schedule of class and working at his externship for his law office. Based in New York City, Tim is very into his style and must always be dressed to impressed. He is constantly trying to keep up with the latest trends, but with his fast paced lifestyle he does not have the time he wishes to do so. The convenience of The Urban Tie will ensure that Tim can stay upto-date on the latest style trends. 8
KEVIN
Kevin is a 19 year old college student in Ithaca, NY. While he thinks Ithaca is Gorges, he finds it difficult to keep up with his style when the closest place to shop at a mall is an hour away in Syracuse. With the access to e- commerce sites fit for him he is seeking to resolve this issue. The Urban Tie will allow Kevin to shop at his leisure without having to go far from home.
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MARY Mary is a 50 year old mom to a 20
year old college sophomore, Brian. Brian tends to not care what he wears, but Mary wants him to look more put together. She is busy day to day with work and keeping up with her other kids schedules that when it comes time to holiday shop, online is the only way to go. The Urban Tie can help Mary outfit her son in style!
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ASOS is the UK’s largest independent online fashion and beauty retailer targeted to a younger target market of twenty-somethings for both men and
COMPETITION
women. It has over 15 million registered users and attracts over 29.5 million unique visitors per month. There are over 850 brands for consumers to shop for, including its own private label products. In addition, ASOS offers its users up-to-date style, celebrity and
Strengths and Weaknesses:
music news.
A strength of ASOS is that it offers a wide variety of products for both men and women. Also, it has a large online presence through various social media sites such as Facebook, Twitter, Pinterest, Google+, YouTube, Instagram and Tumblr. In addition, ASOS has gotten a lot of media attention from respected outlets, such as The Guardian, Marie Claire and Esquire, all of which speak highly of the brand. Another strength that holds serious weight in the e-commerce market is that ASOS ships to 237 countries for free. In terms of weaknesses, since ASOS is best known in the UK and around Europe due to the fact that it started in the UK, the American consumer has gradually caught onto this brand, but there is still a long way for it to go to become a well-known name in America’s online retailer market.
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Ebay, founded in 1995, is one of the world’s largest online marketplaces with over 200 million users. As a
COMPETITION
global leader in e-commerce Ebay allows consumers to buy and sell a vast variety of products anytime, anywhere. Ebay is available via the Web, along with mobile and tablet devices.
Strengths and Weaknesses: A huge strength for Ebay is that it is globally established, giving it a strong presence in the e-commerce market. It is extremely well-known and trusted among users. Ebay is also gender neutral, allowing any type of consumer the opportunity to buy and sell items they like. Ebay has strong connections with celebrities, creating brand awareness and an effective sense of trust among users. A weakness Ebay is threatened with is online security. Ensuring the security of such a large marketplace is a large feat and can be crippling. Another weakness is Ebay’s dependence on its users. Since Ebay cannot control the legitimacy of products sold and purchased on its site, room for fraudulent products is huge.
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Poshmark is an e-commerce thrift store targeted towards women to buy and sell clothing and accessories. Users can shop hundreds of thousands
COMPETITION
of women’s closets for new and gently used fashion, most of which sells for 70 percent off the retail price. Users can sign up with Facebook, email or Google, and can use Poshmark on both Web and mobile
platforms. Users can create profiles, providing Poshmark with information such as size details so that items can be filtered and found specific to each user. Poshmark also curates showrooms, which feature their favorite picks collected from the entire Poshmark community. In addition, users can follow closets they like so when new items are posted, the items will show up on their feed. Poshmark hosts three “Posh Parties” per day, where users can virtually meet up to share, shop and sell clothing and accessories with different themes, such as “Street Style” and “Total Trendsetter.”
Strengths and Weaknesses:
Poshmark has a large selection of products, including a large scale of clothing and accessory brands for women. It has established itself as more than a typical thrift shop--it’s a fun and inviting community. The mobile app allows users to buy and sell products on the go, in a quick and effective manner.
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The “Posh Parties” creates user interaction and promotes user activity. Poshmark is currently only available in the United States and its territories.
COMPETITION
It also predominantly appeals to and targets women, leaving out the market for men. Since it is a relatively new company, having launched in 2011, they still have room to grow in terms of earning current and potential users’ trust.
Yoox.com was established in 2000 as an e-commerce store for designer fashion and art for both men and women. Yoox describes their shopping experience as: “discovery - an eclectic and playful journey beyond fashion's strict seasonal rules - allowing men and women to express their individuality through timeless and creative style” (Yoox.com).
Strengths and Weaknesses: Strengths include customer interaction with blog-style posts and outside products. It also gives users easy access to many designers in one place. Also trends are highlighted on the website, so users have an easy and effective searching experience. In addition, Yoox.com incorporates art as another component of its website, appealing to a unique market. The company delivers to over 100 countries worldwide, allowing it to tap into international market. In terms of weaknesses, Yoox.com has very high-end and expensive products. It really caters to a specific elite market, leaving others out.
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Strategy:
WEB DEVELOPMENT
The Urban Tie Objectives: The Urban Tie is an online consumer-to-consumer shopping website for men’s fashion. The Urban Tie is designed to provide our target market an easy, convenient, and safe digital space to shop/ sell and learn more about styles. It gives users a
direct platform to sell/purchase their wardrobes and join a community that shares the same passion. Moreover, the site should attract more users to register not only to sell/purchase but also actively contributing to our online community. The secondary objective is to invite social influencers in men’s fashion and style industry to join the urban tie community and actively promote and share their love for our brand.
User Experience Objectives:
Users will discover our website as easy to navigate, visually appealing, and simple to find the most relevant information to them. It should be a safe and trustworthy platform for buyers and sellers to make business transactions. For first time users, it will be simple to register and browse through the site. All features will be straightforward and help/support will be available on site. Users will easily find information about who we are and what we do and how to contact us. For experienced users, the site will be well organized to manage. From learning about the editors ‘pick to uploading their sale items, users could easily navigate through all features on site. 15
Scope:
WEB DEVELOPMENT
Functions:
1) This website will allow users to learn what The Urban Tie is and how to get involved. 2) Users will be able to sign-up and browse through our website. 3) Users can choose to become a seller and start selling.
4) Registered users can explore our Life Style and Socialize section and become content contributors as well. 5) Buyers can rate their buying experience and upload their look pictures online. 6) Users can find The Urban Tie contact information, support service, career opportunity and F&Qs on site. 7) Users can connect and share their love for The Urban Tie through various social media platforms on site.
Features:
The Urban Tie website will provide the following features to create an simple, convenient and relevant user experience: 1) A sleek and simple landing page with effective navigation bar at the top 2) A top navigation bar includes 4 tabs: Editors ‘Pick, Shop, Sell, and Lifestyle+Socialize. It
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WEB DEVELOPMENT
will also include a search bar for users to search information. Each tab will be a dropdown to reduce information clutter. 3) A side bar will include an email subscription box as well as sponsored ads 4) Landing page will be the Editors’ Pick page which features 3 different outfits of the week for users to click and start shopping.
5)
A sign-up window will pop up before users could start browsing the site.
6)
In order to become a seller, users have to download our phone app. Along with the website, it
will help user to manage their online store and orders. 7)
Lifestyle + Socialize tab will feature articles and media that focuses on design, art, fitness, style,
technology, and etc. Users can become community contributors by posting or sharing contents. 8)
At the footer of the website, it will provide shopping and selling guide, along with a contact
form for users to ask questions and learn more. 9)
The Help section at the footer will also provide information of Payments and Web security,
Shipping times & costs, Track orders, and F&Qs. 10) Users can also find About Us at the footer to learn more about what we do and working opportunities with The Urban Tie. 11) Users could connect with us by clicking on different social media icons on site. 17
STRUCTURE FLOW CHART The Urban Tie.com Homepage
Log In/Register
SHOP
This tab will include different cateories, such as clothing, denim, shoes, acceories & bags and designers for users to choose from.
SELL Users have to download our phone app in order to become a seller. It provides a better management system for
sellers.
LIFESTYLE + Socialize
It’s an online community filled with info. about fitness, design and art. Users are encourage to become community contributors.
Search A search bar will be include on the top of navigation bar.
EMAIL SUBSCRIPTION
ADS
NEW COMERS
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HELP/SUPPORT
ABOUT US
CONNECT W/T US
THE URBAN TIE HOME PAGE
THE URBAN TIE EDITORS’ PICK
SELL
BUY
Search LIFESTYLE + SOCIALIZE
JP JACKET
EDITORS PICK DENIM JEANS
The Urban T ie SELL PAGE
THE URBAN TIE EDITORS’ PICK
SELL
BUY
Search LIFESTYLE + SOCIALIZE
Download our free app and become a seller. - A BETTER WAY TO MANAGE YOUR URBAN TIE EXPERIENCE.
NEW COMERS
SUPPORT
ABOUT US
PRIVACY POLICY
In order to build and drive traffic to the The Urban Ties website, we will implement both organic and paid search
SEARCH MARKETING
strategies which will utilize specific search techniques. To do so, we will start by providing an overview of how search engines work, paid and organic, and how this applies to our company. One of the The Urban Ties main goals in the search marketing plan is to improve the page ranking. Therefore,
we will focus our paid and organic search strategies on achieving a first-page ranking. For an organic search, the page ranking is determined by several factors, such as spelling, word variants, and other factors like stop words and antiphrases. For example, if one were to run a search on a website such as Google, the steps that the search engine takes begins with matching the search query to these specific factors. In doing so, the page ranking is determined based on the organic ranking algorithm which takes into consideration factors such as keyword prominence and keyword density. After these matches are ranked, the search results are then displayed. One major step that we will take to improve the The UrbanTies organic search is to index the website through Google. This step will take place after completing the company’s website to make sure that there is no broken links, along with sufficient unique content. In order to secure that this process is optimized, we will index
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specific keywords related to the company and found on the website. This includes such keywords as:
SEARCH MARKETING
men’s fashion, urban, fashion, thrift, menswear, etc. These keywords will be chosen as they appear on the site content frequently, especially in the first 200 words of the site content, as well as in title tags, headlines, and Meta Tags. For title tags, the specific words “Urban,” “Tie,” “men’s,” “fashion,” “trendy,” and “thrifty” will appear most
frequently at the top of the browser, and are therefore unique to the page and will aid in the organic search. These same words, as well as others such as “men’s fashion” will also appear in many headlines on the website. Additionally, these keywords will also be critical with the Meta Tags. Meta Tags do not appear on the web page, but are embedded as additional information which aids the search engine when crawling to index the website. For our Meta Tags, we will use more specific phrases and longer descriptions rather than smaller keywords such as “thrifty men’s fashion with style tips.” We will also be allocating a portion of the budget towards paid search engine marketing. In doing so, we will see more immediate results alongside the organic search strategies. Paid search comes with several other benefits as well, including: unlimited keyword targeting, detailed evaluation metrics, and increased control of the message and design. Our strategy for the paid search is to pay for the same words used most in title tags and headlines (trendy, men’s, fashion, urban, thrifty). In terms of payment options, our next step is to determine which type of click-through rate to use among 22
the options of CPM, CPC and CPA. We have determined that the most beneficial to our newly launched website
SEARCH MARKETING
will be the CPC style, as we really are striving to acquire a larger consumer base through clicking through to our website. The way that we will allocate our budget for this CPC style of bidding is by paying for each of these 4 words. Since the fashion industry as a whole can be more
competitive, we are expecting clicks to be more costly. Therefore, we will allocate a total of $35,000 of the budget specifically for bidding on Google AdWords to maximize our search results. With a bidding price at about $3 per word, and a daily budget of about $300, we will successfully utilize our full budget within the first quarter by generating about 20K-30K clicks. Our ultimate goal in using a CPC style is to maximize our CTR. As a CTR is calculated by dividing total impressions by number of clicks, we are expecting that a guaranteed amount of clicks by paying CPC will secure a higher amount of clicks, which in turn will generate a higher CTR. Our projected total CTR from Google Adwords is 1.8%. Therefore, with the combined efforts of both the paid and organic search strategies, the The Urban Tie is projecting that their total website traffic should increase exponentially. With the search strategies synergistically combining with our other strategic efforts, the The Urban Tie should experience rapid growth over the next few years.
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GOOGLE ADWORDS
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Implementing a strong social media strategy is important for The Urban Tie. There are a number of ways
SOCIAL MEDIA
in which they can do this and a number of platforms they can use to do so. Strategies for utilizing social media will be useful for promoting The Urban Tie and attracting customers. Goals for social media strategies include: building brand awareness, generating leads, delivering promotions, converting prospects to customers, retaining
customers and building brand communities. We will be developing social media strategies for The Urban Tie using social media tools, such as Facebook, Twitter, Instagram and Tumblr. All content we post via social media will be syndicated so that it stays consistent across all platforms, making it easier for customers to stay up-to-date with our brand. Hashtags will be used throughout all social media platforms to organize content and track discussions. These hashtags will include #theurbantie, #mensfashion #thrifting, #trendy, etc. The Evans’ feedback and engagement models can help The Urban Tie gauge whether or not they are successfully accomplishing a message. Evan’s social feedback cycle helps form opinions on if the communication of a site is working. These opinions are formed by the “talk” and two-way communication on social media between a brand and consumers, or consumer-to-consumer. On the social media platforms consumers share their ideas, attitudes or concerns about a product. The engagement process is also crucial in determining what
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level of involvement there is on The Urban Tie’s social media platforms. The Urban Tie has the highest level of
SOCIAL MEDIA
engagement which is collaboration. This is when users can post their own generated content and interact with the brand message to accomplish something. This is seen across the social media platforms by having users post their own outfits wearing The Urban Tie products and posting them to win contests.
Facebook: The Urban Tie’s Facebook will allow users to easily obtain content about event announcements, current products, fashion trends and promotions, while also serving as a platform for customers to provide feedback. Photographs of models wearing our recent looks will be posted to facebook. The photographs will be captioned with the product description and a link to our website to purchase online. In addition, some posts will have conversation-starter topics and questions to get users to comment and share ideas, thoughts and suggestions. To generate customer engagement and 26
feedback we will post a picture once a week featuring three different looks and ask customers to choose their favorite
SOCIAL MEDIA
look by commenting on the picture. The link to each look will be posted with the picture as well. Facebook will also be used to respond to customer feedback, both positive and negative, and to answer questions from customers. Facebook will also be used to advertise.
Twitter: Twitter will be used similarly to Facebook, with more of a focus on spreading links to newly added products, announcing events and promotions, as well as monitoring conversations and responding to customer feedback and complaints. The Twitter page is also a great place to link articles to news coverage about our brand.
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Instagram: Instagram will be used
SOCIAL MEDIA
to post images of products, event announcements, promotions and photo contests. Each Tuesday we will have a photo contest that uses the hashtag
#UrbanTieTuesday where we will allow users to post pictures wearing recent Urban Tie products and a winner will be chosen at the end of the day. The winner’s photo will be re-posted onto The Urban Tie’s Instagram, and spread throughout all other social media platforms. Photos of inspirational fashion trends will also be posted to generate conversation. The Instagram page will have a link to The Urban Tie website in the bio and pictures featuring products will have the name and style of the product as well as the link to purchase online.
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SOCIAL MEDIA
Tumblr: We also plan to utilize Tumblr as an additional social media platform. Tumblr is widely used for sharing images with attached hashtags, and can easily generate a substantial amount of brand awareness through reblogging photos. Additionally, Tumblr is widely used by our target demographic. Therefore, we will regularly post photos pertaining to men’s fashion and trendy styles with specific hashtags such as #UrbanTie, #MensFashion #Thrifting to reach these users. In addition, we will search and follow various other men’s fashion blogs and reblog relevant photos to generate more followers.
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Another strategy that we will utilize to enhance our company’s user experience is to incorporate mobile
MOBILE STRATEGY
media. We will allocate $10,000 towards the creation of a mobile app which features the same content as our company website, but formatted for mobile devices. We ask our sellers to download our app in order to receive a full The Urban Tie experience. This will ultimately
provide users with another medium to access our company, as well as allowing us to further expand upon our growing media presence. By developing a mobile app, we are providing several benefits to our consumers. This includes a greater sense of connectivity and convenience as they will be able to access our website anytime from their smartphone. Additionally, the mobile app will offer location-specific information such as local fashion trends and tips. We hope that through the use of this mobile app, we will generate brand awareness while simultaneously gaining new customers.
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Promotional Strategies are a great way to build brand awareness and recognition for The Urban
PROMOTIONS
Tie. These allow for creativity and a unique way to appeal to subscribers and prospective customers. For these strategies and events we have allocated $45,000 of the budget.
Affiliate program: Since The Urban Tie is focused on men’s fashion, partnering with a similar company that focuses on women’s fashion would be really beneficial. The affiliate partnership could include discounts if ordering from both websites. The best site to partner with for us would be POSHMARK. This is the women’s version of an online thrift-trade type store. With this affiliate program, each site can promote the other as if they were sister companies and not competitors since they both focus on the opposite sex. $1,000
Online Sign-Up Promotion: If you invite 5 friends to The Urban Tie you can get 25% off your next purchase. This discount would be subsidized by The Urban Tie website and would help incentivize users to invite friends. This in turn builds a stronger database of customers for The Urban Tie, but gives customers and users a reason to keep returning and purchasing from the site. Successful online shopping websites like Tobi, for women’s clothing implement this discount strategy as well. $2,000 31
Special Event: Sidewalk Sale: This event can be
PROMOTIONS
held in a high traffic area. Maybe somewhere like SoHo or Brooklyn in the NYC area. These two places are highly focused on fashion and trends so
it will draw the right consumer and type of attention. This event will act as sort-of like a trunk show where website users can bring clothes to one central location and sell and trade with other users and to the public. This will get The Urban Tie name out there and will also create word of mouth buzz and exposure for the brand. Bloggers and other fashion industry people can be invited to the event and hopefully offer sponsorship. There can be other aspects of the event where men can get styled or items can be raffled. This gives the opportunity for the brand to interact with customers in person, as opposed to just on the Internet. $6,000
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Photoshoot: Well-dressed male models can be used for stock images for the website. It is
PROMOTIONS
important to have professional grade images so that the website appears legitimate to users. These photos can be used to characterize the different
types of men that may use the site. The photos can depict different styles and trends so users can decide whether or not that is “their style”. This will help users build a profile of what types of clothing items they like so that The Urban Tie can be more targeted to each individual consumer. $5,000
Print Ad: Print Ads can run pretty expensive, but can be one of the greatest forms of exposure for a brand. Placing a print ad in GQ, Men’s Health, or Esquire would likely grab the attention of many different men. The athlete, the young trendsetter, or the classy businessman can find interest in subscribing to The Urban Tie after seeing one of these advertisements in the magazines that they read regularly. $29,000
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PROMOTIONS E-mail Campaign: E-mail campaigns are really important to implement for The Urban Tie because they will send offers, discounts and news updates to subscribers. It is important to include multimedia and a personalized message to the consumer in these e-mails. This can most easily be done by purchasing Constant Contact subscription in order to be able to push e-mails to subscribers and users of the site. Constant Contact runs about $75 a month to send 5,000 personalized e-mails. This would be a good starting point for The Urban Tie. $2,000
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BUDGET PIE CHART
The Urban Tie Budget Search Marke1ng
$45,000
$35,000
Social Media Mobile Strategy
$10,000
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$10,000
Other Promo1onal Ac1vi1es
For the budget we decided to allocate $35,000 to Google AdWords and the entire search marketing campaign. As business and popularity grows, we may need to purchase
BUDGET
more expensive ad words, but less of them. The $35,000 allows some room to improve and change some of these words. Fashion words tend to be more expensive than some other industries due to the fact that online shopping and e-commerce have become increasingly popular.
$10,000 will be dedicated to social media. While most social media is free and not paid for this $10,000 will account for Facebook advertisements and any future sponsored ads on other social media platforms, such as Facebook. The next $10,000 is devoted to building a mobile application that will be built so that users and subscribers can interact with us anytime. The rest of the budget, $45,000 is going to be used towards promotional events. These are the best ways to get The Urban Tie name out there. $29,000 of the rest will be used for print ads, likely the most costly promotional item. $6,000 will go to setting up and executing the sidewalk sale event. $5,000 is for the model photoshoot for the website. $1,000 is for the partnership with PoshMark and $2,000 is for a long standing subscription to Constant Contact to send e-mail blasts. The final $2,000 for other promotions will go to subsidizing costs for offering a discount to customers who sign 5 friends up for The Urban Tie.
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ZACH BUSSEY SENIOR / BIZ ADM. ROCHESTER, NY
E YIWEI ZHU SENIOR / IMC KUNMING.CHINA
“THE TIE MAKES THE OUTFIT”
MEET THE TEAM
“WATCH SAYS IT ALL”
KRISTIN SOMIN SENIOR / IMC EASTON, CT “CUFFLINKS MAKES A STATEMENT”
LINDSAY TOMARO SENIOR / IMC COLTS NECK, NJ “FAV. ACCESSORY: COLOGNE”