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I'm changing socks, forever.

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ballinfil

New Contributor
Apr 25, 2015
11
8
31
Hey Everybody,

Long time lurker on Fastlane here who decided to make a change.

This summer my roommate and I decided that before the next school year, we would start a business with at least 50k in revenue. We got tired of constantly thinking about school and jobs and decided to try and make our own opportunities. We plan to put as much work in as possible this summer and reach our goal of 50k.

Together, we formed Society Socks. The goal of Society Socks is to donate one pair of socks to charity for every purchase of our cool socks. Our socks will be targeted toward young to middle aged men who follow fashion trends and enjoy showing off their funky socks! Moving forward, we will consider expanding into funky socks for ladies.

So far we have created a launch page where we are featuring our first campaign. The free sock campaign which we have launched features a referral program where people who enter their email and refer friends have the opportunity to win free socks.

The following reward levels exist:
1 friend referred - 20% off your first purchase
3 friends referred - We donate 1 pair of socks to charity
5 friends referred - You win 1 free pair AND we donate 1 pair
10 friends referred - You win 2 free pairs AND we donate 2 pairs
20 friends referred - You win 5 free pairs AND we donate 5 pairs

So far we have collected around 250 referrals and are looking to hit 1000 by next Sunday.
We started running some facebook ads and some reddit ads today and are excited to see if they generate any conversions.

So far, about 75% of our subscribers are male. 65% are 25-34 and 25% are 35-44. These numbers have impressed us as we worried that people would heavily free load and take advantage of the free socks. While we have mostly avoided free loaders so far, one user did manage to make 20 fake invites to reach the highest referral threshold.

For those who our interested, we would love to hear your feedback. Our site is www.mysocietysocks.com
I will continue to update you all on our journey!
 
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Last edited by a moderator:

DianaL

New Contributor
Read Fastlane!
Jun 18, 2015
6
5
32
What an awesome business concept! And the incentive to donate a pair of socks for every pair purchased is a plus. Best of luck.
 

BigBrianC

Bronze Contributor
Speedway Pass
Dec 31, 2014
365
469
24
Athens, Georgia
Ah, like Toms, but for socks? Nice. Going Viral could be a big thing for you so I'd contact alot of news sources that do things about start-ups with a headline like

"This new start-up is giving socks to the poor" or something along the lines.
 

ballinfil

New Contributor
Apr 25, 2015
11
8
31
Ah, like Toms, but for socks? Nice. Going Viral could be a big thing for you so I'd contact alot of news sources that do things about start-ups with a headline like

"This new start-up is giving socks to the poor" or something along the lines.
Thanks for the tip. Going viral would be amazing for us, hopefully we can get there!
 

Silverhawk851

Platinum Contributor
Speedway Pass
Sep 22, 2012
861
4,043
Toronto/Traveling
Things I would do immediately:

1. Have pre-written "viral" newspeices and content and fire them off to all the top content sites like EliteDaily, Business INSIDERS, HelpAReporterOut.com
2. "Share a Sock Donate a Sock" Facebook campaign, Post Per Engagement, with a shit ton of shares and likes= social proof (message me I'll show you how to get 1k-3k REAL likes and shares for a few bucks)
3. Increase product range/add upsell to create a higher CLV where you can pay more for each customer.

Should put you on a good bracket :)

All the Best
 
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BigBrianC

Bronze Contributor
Speedway Pass
Dec 31, 2014
365
469
24
Athens, Georgia
Things I would do immediately:

1. Have pre-written "viral" newspeices and content and fire them off to all the top content sites like EliteDaily, Business INSIDERS, HelpAReporterOut.com
2. "Share a Sock Donate a Sock" Facebook campaign, Post Per Engagement, with a shit ton of shares and likes= social proof (message me I'll show you how to get 1k-3k REAL likes and shares for a few bucks)
3. Increase product range/add upsell to create a higher CLV where you can pay more for each customer.

Should put you on a good bracket :)

All the Best

Follow this advice to a T. What I said, but with actual steps and tips instead of "Ya know, just go viral" ;)
 

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