Launching a business and succeeding in today’s cut throat competitive world are not easy, especially the apparel business. Recent research shows that almost 53% of apparel startups fold and roll back, ending their operations within 4 years of launch, that is if they make that far in the first place. Experts at Smallbiztricks have come to the rescue of entrepreneurs with few guidelines to help apparel business succeed. Let’s get to them:
Switch the Mentality
The most common reason for failure is the fact that people entering apparel business are designers with beautiful, practical ideas. Unfortunately, they never make the switch from designer to entrepreneur, as there is a huge difference between the two. To be an entrepreneur, you need a lot of commitment, hard work and shrewdness. Relying on simply better designs fades away as the trend of today might become obsolete by tomorrow in the apparel business. So, if you lack the business acumen, team up and hire some eager minds or learn the tools and skills necessary for it.
Know your Audience
Almost a global marketing and business principal, you need to know who you are selling to. Targeting a specific demographic, gender, age group and orientation are just the beginnings. You can dig deep and go for niche, just like ariat fr jeans. Ariat specializes in workplace, rough and tough flame-resistant apparels that are fashionable as well. Going for niche is also a better option when capital and cash flow are limited, a scenario faced by almost every startup. You will get the leverage of focusing on your niche product and niche customer base, improving both over time and later expanding both.
Succeeding with a ‘me too’ attitude in fashion industry is almost impossible. On the surface, each brand’s range may seem similar to their competitor, but in reality, they offer something unique. And in apparels, uniqueness comes through design, color combination, material, and presentation. Yes, you read that right, presentation too. The best way to go is differentiate yourself from the industry in all of these to stand out and establish your own space in consumer’s mind.
Use Marketing Effectively
There are multiple ways to get traffic on your site; relying on social media is the most cost-effective way, which allows for direct interaction with your existing and potential customers. It’s mandatory to have an active presence on all social media platforms including Facebook, Twitter, Google+, Instagram etc, while working on the search engine optimization at the same time. This quick guide on social tools will help you tremendously.
You can engage your audience in multiple creative ways like flash sale alerts on social media, coupons, SMS and email alerts, lucky draws and more for repeated business and expanding client base.
That’s all folks, but that’s not the end. To survive and grow, you need to be on your toes all the time. Persistent learning is the only key to consistent evolution in both business and life.