Entrepreneurship: Providing Tools For Customers To Document & Share

Recently we launched our Customer Modeling Board, where we invited our customers to register their accounts and share their custom lipstick color. I had this hypothesis about the importance of documenting and sharing the custom colors they created. From my observations at events, customers had a lot of fun creating colors and getting approval from friends and strangers. When a woman finds a color she loves, she doesn't part ways with it easily, which usually leads to a sale. The cool thing that we promise as a company, is to maintain these colors FOREVER, so you don't have to worry about running out of it. 

So from this, I decided to build out this customer modeling tool that caters specifically to each person. It's designed so that each person can access their color and also share it and tell the their friends about Finding Ferdinand's custom lipstick products. 

I don't know if people would really shop based on normal people's photos, but the option is there if they want to. We'll just monitor the results from this and see if that's what happens. This is all a fun experiment!

Here's my summary on the first week

Hypothesis:

If customers like making their own colors, then they will like sharing what they made. If they share what they made, then it will increase Finding Ferdinand's brand awareness.

Experiment:

We built out a Customer Modeling Tool where our customers can upload photos of themselves wearing the color(s) they made and share it with their social network. 

Initial Results:

This is the first week's data. We'll monitor the numbers week over week. 

  • Email Open Rate: 30%
  • Registrations to the platform for the first week = 4% Conversion 
  • Referrals = 56% of those who converted shared it out with their networks (FB, Twitter, Pinterest, Instagram, Twitter) 
  • Leads = +39% lift in signups for the Mix It Yourself Palettes 

Summary: 

The initial results are promising :-)  

We don't have a real baseline to go off of, but we'll take a look at industry reports to see how we're performing in the next few weeks. I can tell from the open rates, there is interest in the tool. A 4% conversion in my eyes is good because I understand there is time and work required to register an account with us. A customer has to take a picture and upload it to their profile. Referrals and leads are phenomenal because we have people who brave enough to blast out a selfie of themselves and brag about this creation that it has lead to a good handful of people signing up on the website to receive the palettes. 

This isn't a true science experiment. I'll be doing things in the next few weeks to encourage things to continue to look promising, so ideally we should be seeing the numbers get better. Our weekly goal is to continue to beat last week's numbers.