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Karmaloop's White Elephant Exchange

Before I begin to pitch my idea, I would like to offer a marketing tactic that is way above my reach: product placement! It would be amazing to see Karmaloop reach a massive audience by being a part of a plot in a movie or television episode. Prime example, "Harold and Kumar Go to White Castle." White Castle is not a primary role in the film, but is the mission of the plot. Karmaloop's presence does not have to dominate the storyline, but have a role in what is taking place within the film or episode. Another example, the presence of band Boxer Rebellion in the film "Going the Distance." The band had a profound role in the relationship between the main characters, played a set in the movie and was mentioned quite a few times. Although the band was not the main focus, the placement of their name within the movie sparked curiosity to all viewers, creating a bigger fan base! (To be honest, that's how I discovered the band and they're awesome!)

Maybe a movie is a bit of stretch -- how about sponsoring the red carpet for MTV's Woodie Awards or BET's music awards? Place the Karmaloop logo on a step-and-repeat banner, let Karmaloop TV interview for the network and tie in fashion all around! Forget targeting a niche market and grasp the attention of the entire world while they are all watching!

With that said, I know nobody and lack connection with people involved in the media industry. However, I believe in Greg Selkoe and the Karmaloop team to be able to pull something like this off!

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RESEARCH
To begin my project, I created a survey to send out to existing Karmaloop consumers to see if the company is lacking in any areas, figure out Karmaloop's strong points, and get the opinions of those who enjoy Karmaloop's services. The survey included basic demographic questions (age, gender, residence) and asked detailed questions: Why do you shop at KL?, Where else do you shop?, What don't you like about KL?, etc. I used Twitter and Facebook as a channel to send a link of my survey to individuals who were talking about Karmaloop.

RESULTS
As I analyzed the answers, I noticed two question had the same response: Do you shop for a store or for individual purposes? All of the participants answered "individual." With the question, Why do you shop at Karmaloop?, all the responses were "because you cannot find clothes like that anywhere else." Connecting this bit of information inspired me for my pitch.

KARMALOOP'S WHITE ELEPHANT EXCHANGE
Karmaloop's consumer relations, from experience, is exactly what every company strives for in their own market. As a Karmaloop consumer myself, I receive e-mails daily on deals, can count on a sale whenever I need to shop, and can be sure I will have an amazing experience. As an individual shopper, I am well taken care of.

However, how about the resellers? Their shopping experience through Karmaloop is a business deal. Resellers count on Karmaloop to achieve their goals! They can easily find products for their business elsewhere, but they prefer Karmaloop. Let's give them something to feel good about their decisions to work with Karmaloop: Karmaloop's White Elephant Exchange.

HOW IT WORKS - Starting in November, resellers will be encouraged to stock up their store, gearing up for the holidays, by purchasing through Karmaloop. Karmaloop will offer shirt and hoodie combos or deals on certain items to encourage resellers to buy inventory on the specific items. In return, the reseller will rack up points for every purchase, combo or not. As long as the reseller is purchasing through the promotion, points will begin to add up - for a reason! The promotion will run through December and before the holidays are up, the top 10 resellers with the most points will be eligible to participate in the White Elephant Exchange, Karmaloop style.

All participants will be gathered via Skype and broadcasted with the help of Karmaloop TV.  There will be 10 wrapped boxes each reseller can choose from. Following the traditional rules of the gift exchange, someone can choose to steal a box from another or choose their own. However, the items cannot be revealed until everyone has settled with their own box. At the end, the boxes will be opened and one will have the grand prize: a Karmaloop store makeover! Other boxes can offer deals on a reseller's next purchase, shirt bundles, etc.

KARMALOOP MAKEOVER - The grand prize can consist of providing a "Karmaloop Korner" for the reseller's shop. This can be done by sending the shop owner some Karmaloop goods like a Karmaloop banner, life-size cardboard cut out of Greg Selkoe, poster collages, anything Karmaloop has hanging around or something specially made. Another grand prize idea can be throwing the shop a Christmas party for their dedication to Karmaloop. The same items can be sent over to decorate the shop for the party and maybe a monetary prize to let the shop buy booze, food, etc. for the party.

The promotion can take place bi-annually. A "Christmas in July" twist can help this promotion gain popularity between resellers. The same logisitics can take place, but instead of a Christmas party, let's help them out with a summer BBQ or stick with the "Karmaloop Korner" idea.

WHY IT WORKS - Ultimately, this idea is increasing revenue while creating a stronger relationship with the reseller side of Karmaloop's services. It is important to make them feel just as special as individual consumers. The idea costs Karmaloop little while gaining more! Inventory is being pushed and the business wheel is steady turning.

 

 

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