Men's Socks: vertical electric dealers in the doldrums, selling socks with what stiffness

In the interview men's socks before, I have an impression of it, the original often look at the technology of Cattle Nanyi blog, a period of time to see the men's socks ads, its advertising language is "like a magazine to order socks", at that time think the mode is very novel. Did not think, and then will interview its founder Chen Bole.

Men's socks, is a company founded in Wuhan, the main selling men's socks of the vertical electric dealer, users in the purchase of their socks are through prepaid way to complete. Its founder Chen Bole originally was a program ape, why would want to sell socks on the internet, in it has a cotton and socks butler to do the same socks electric dealer, why only men socks in this subdivision in the field of survival?

The business of small socks

Chen Bole said men's socks were his second venture, the first venture of 2008, and his own creative gifts. Although the first venture failed, but help very much, he realized that his choice of the category has problems, gifts are not people's just need, at the same time, two times the rate of recovery is lower, so face the double pressure of stock and inventory.

When he started his second venture in 2010, he chose socks, and at the same time, the crowd was positioned as an IT man or an otaku, and he also spoke of his choice of socks and the logic of positioning the crowd:

First, just need it. Socks are the target of the needs of the people, many it men or otaku do not have the time to deal with these trivial matters of life. He said he had a say in this, and that was the crowd. Second, two repurchase rates are high. The sock itself is consumable, who does not wear a few pairs in a year? (Men's socks are now a 50% discount rate, compared to Taobao's 10%, also confirms this.) Third, the price is not sensitive. The target population is not very sensitive to price, let alone socks such small objects. Four, weak brand. Category if the brand is obvious, the profit space is too small, at the same time not conducive to the establishment of their own brand.

Chen Bole said that this year is the fourth year of men's socks, and now from the original single-handedly into the 5 "small gangs", daily average of one hundred or two hundred, or belong to a smaller size of the start-up company.

Although a small company, Chen Bole introduced 5 people "small Gang" division of labor is very clear, he is a big head, from the CEO to the logistics of all responsible, at the same time assume the external "cheat" the arduous task, the other four per 90, respectively responsible for operations, customer service, delivery, new media, they operate the sister, took nickname as "male Sister", Specialized in charge of all kinds of buyers after-sales service. (The one hundred or two hundred-piece Daily courier, nickname is not a "quick hand"!) ）

Chen Bole introduced that the gross margin of socks is about 30%, excluding operating costs, gross margin of only 10%, men's socks development 3 years, finally in 2013 just realize the profit, and men's stockings set up before and after the cotton and Socks Butler, now for a variety of reasons, has been closed, why men socks can profit and survive?

A new game of small business

The question of survival, Chen Bole not directly explained, he said that he spent 5000 yuan in advertising on Baidu, did not bring a transaction, and Taobao to obtain a new user to more than 10 yuan cost, each transaction is a loss, if there is no two repurchase, this attract users of the cost of such an entrepreneur can not afford him.

It is because unable to withstand the traditional way, as the first batch of Twitter technology male Chen Bole began to turn to the network, he introduced the men's socks in different time period of the combination of the network play, he thought that this is one of the reasons for the Socks butler failure, the traditional enterprises to do the biggest disadvantage of electric Don't know how to find and maintain users on the Internet.

2012 Weibo: Invite Big V trial, although the success rate is not high, but every success, orders will appear for a short period of time, with the registration card spread, men's socks in the delivery to the user, buy 3 pairs, sometimes may send 4 pairs, or random send some small gifts, to users surprise, many users spontaneously through micro-Bo Sun, Thus slowly forming the brand's mouth card, the full-time personnel carries on the micro-blogging operation, interacts with the user, solves the problem. That year's microblog orders accounted for 1/3 of its total orders. (Interested friends can look at their microblog, although the fans are less than 40,000, but the average number of comments per micro blog has dozens of, but the forwarding rate is not high, visible men's socks is a fan group of high activity, but not enough epitaxy!) ）

2013 Micro-letter: Men's socks in the second half of 2013, the first batch of the domestic service number of businesses, but also the first batch of micro-letter Third-party service providers to build their own micro-mall, to now have 50% of orders from micro-letter. (a small start-up company can actively embrace the mobile internet, the first is the awareness of the valuable, second, the mobile Internet to small and medium-sized entrepreneurs do create a smaller cost of business opportunities)

2013 Bitcoin: Men's socks have also received five bitcoin for their fans ' advice, Chen Bole that although the risk is great, he is willing to attract new customers in this way.

2014: April, the men's socks completed the national stock, 500 places, each 1000 yuan, to raise 500,000 yuan, distribution of 5% of the equity, at present all the legal formalities have been completed, 5% of the equity by Chen Bole generation. He said that in fact, since the beginning of last year has been contact with some investment institutions, the valuation is too low, so a dead end, he said this year's success, the public should be a certain amount of help for this year's financing.

If the men's socks play in the Internet, each time at a lower cost to achieve better results, may originate from the Chen Bole has it men and the first group of Twitter users background, then he made a small 99 men's socks also reflects his understanding of the electrical business.

Light: Chen Bole with socks production plant, let the latter own shares, take this light mode, so that the company has a stake in the initiative to ensure the quality of products, they can focus on product development and electrical sales. (Chen Bole think that the failure of cotton is a supply chain, the relationship with the production plant is poor, the basic is 6 months checkout, and finally was sued by the supplier, sealed the Treasury so that can not open the business)

Pre-sale: The advertising language of men's socks is "like a magazine to order socks," the user once selected this mode, the customer unit price can be improved, the site has 29.9, 58, 1083 stalls optional, according to Chen Bole analysis of 2013 years of data, the customer unit price of 50 yuan, The newly-listed poly-US excellent product customer price is only about 100 yuan, the inventory is very small, because it is prepaid system, order quantity better control, not easy to form inventory, turnover fast. (So, millet is also this mode)

Category expansion: At the end of 2012, men's socks developed a new SKU, men's underwear. Chen Bole said that the development of this category is the demand of many users, has now accounted for 50% of the turnover of men's socks, while the profits of underwear category is much higher than socks, in the promotion of user stickiness and profit has a greater help.

Challenges facing

Chen Bole often said that "men should save time to buy socks to do more challenging things", but where is the challenge for men's socks?

Size: Men's socks currently nearly 60,000 of users, only nearly 3000 of the package year users, about 5%, 2013 turnover is only 1.31 million. Although the official microblogging of the men's socks, we can see that each message is more comments, but its forwarding is not much, this shows that its fans active high, but its extensibility is small, has not formed a topic of ability. Baidu Index, you can see men's socks only more than 300, and only to do the overseas electric Dealer's Orchid Pavilion is also about 1200, is it four times times, indicating that men's socks brand awareness is not high.

In response to this problem, Chen Bole said that this year, the public raised 500,000, will use a part of the promotion of the brand, and second, in the future with other men's brands to carry out cross-border cooperation, the World Cup men's socks will be with a well-known brand to carry out a series of marketing activities. He said that in the past few years, men's socks basically did not spend money to promote, hope this year through a certain publicity and cross-border cooperation, so that users of the size and turnover can be a higher level.

Quality: The quality of the men's socks is basically the share of the cooperation of enterprises responsible for the quality of men's socks do not have too much control ability. Chen Bole also admits that this year will introduce a product manager as the most important, not only to control quality, but also to develop new products.

Brand positioning: Now men's socks have developed underwear this category, although the same solution is also the demand for most users, but the man socks this brand positioning has decided its category, is socks. At the same time, the sale of socks and underwear, in fact, for new users, will inevitably feel abrupt and confusing.

Chen Bole said men's socks in June 2013, a marketing case, sales of air conditioners, 350 two hours on the sold, in fact, may wish to expand in the class purposes, not underwear as a fixed product, but as a temporary product or irregular products to operate, not only to give users a sense of freshness, Without confusing its brand positioning.

In the interview, I asked Chen Bole, what is the biggest harvest of men's socks? He said that the whole team will be an idea step-by-step implementation, to get users like to interact together! Men's Socks box propaganda for "a dream of selling ' sister ' son of the electric quotient," by netizens "criticism" deliberately write typos, where is the moral? He said men's socks are not too much planning for the future, only hope that within one or two years of service users can develop to 10,000 people is enough, slowly to make a "small and beautiful" vertical electric business.

Can it be?