Check out 16 Return-To-Work Programs In India For Ambitious Women Like You!
Vineeta Singh of FAB BAG talks about an interesting strategy on acquiring a loyal base of customers at minimal costs.
Customer Acquisition or Business Development is the vertical on which an entrepreneur places maximum emphasis, resources and efforts, especially in the initial couple of years. The challenges in this respect are two fold – acquiring new customers and turning them into brand loyalists.
Most e-commerce firms and product based startups earmark a large percentage of their budget for costs associated with customer acquisition. Vineeta Singh thinks otherwise. She is the Co-Founder of FAB BAG, a discovery platform for women to discover cosmetics and personal care products; and has grown her subscriber base from 200 to 20,000 in a relatively short time of 3 years with minimal costs.
Vineeta believes that it is not always necessary to spend money in order to acquire customers. FAB BAG has been very bottom-line focused right from the start, which has given them the scope to leverage the voices of influencers, bloggers and their own customers to bring in new customers. This has been done through a very strong referral program, an extensive affiliate program and a successful blogger partnership program.
In the words of Vineeta Singh, “When the curated sets of FAB BAGs go out into the market every month, more than a hundred bloggers write about it, which is shared widely on social media. Almost another thousand new customers come in through the referral program, leading to the critical realization that customers who are referred into the portal, stick around longer and typically make repeat purchases”.
This organic and viral growth of FAB BAG has only been possible by not giving into the temptation of following traditional means of customer acquisition. Instead, Vineeta knows the value of her product, and she realizes that the pull factor will play a significant role in increasing the size of her business. The goodwill she generates by delivering quality products to her existing base of her customers finds its way back to her in multiple forms.
Watch Vineeta Singh speak here
What do you think about Vineeta’s strategy? How do you acquire customers? In hindsight, do you think you could have done anything differently? Share your stories with us in the comments below.
Join the Women’s Web Network for women at work by filling in the form below. You will receive a monthly newsletter from us with great resources, plus we’ll keep you posted on all Women’s Web events in your city!
Email Format
Image source: youtube
I have been in love with the written word for the longest time now. I have had the opportunity to intern with Women's Web in 2016, and continue to remain a proud member of read more...
Women's Web is an open platform that publishes a diversity of views, individual posts do not necessarily represent the platform's views and opinions at all times.
Stay updated with our Weekly Newsletter or Daily Summary - or both!
UP Boards Topper Prachi Nigam was trolled on social media for her facial hair; our obsession with appearance is harsh on young minds.
Prachi Nigam’s photo has been doing the rounds on social media for the right reasons. Well, scratch that- I wish the above statement were true. This 15-year-old girl should ideally be revelling in her spectacular achievement of scoring a whopping 98.05% and topping her tenth-grade boards. But oddly enough, along with her marks, it’s something else that garners more attention – her facial hair.
While the trolls are driving themselves giddy by mocking this girl who hasn’t even completed her school yet, the ones who are taking her side are going one step ahead – they are sharing her photoshopped pictures, sans the facial hair, looking nothing less than a celebrity with captions saying – “Prachi Nigam, ten years later”.
Doctors have already diagnosed her with PCOD in their comments, based on photographic evidence. While we have names for people shamed for their weight – body shaming, for their skin colour- racism, for their age- age shaming, for being a female- sexism, this category of shaming where one faces criticism for their appearance has no name. With that, it also has zero shame attached to it.
Please enter your email address