How to sell socks
How To Make Millions Selling Socks (not stocks lol)
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how to make multi millions of dollars
selling socks well you're gonna need to
sell a lot of socks at ten dollars a
pair which is a pretty average price for
socks you're gonna need to sell at least
a hundred
thousand of them in order to make a
million dollars and while everybody does
need socks
it does sound like a pretty difficult
thing to sell especially considering
that basically every store
sells socks yet in today's video i'm
gonna be doing a sort of review of this
one
shopify brand that actually does
multiple millions of dollars per month
selling socks now the company i'm
talking about is bombus
i think that's how you say their name
i'm honestly not sure this is the first
time that i've ever actually heard of
them
and what they do is they literally sell
socks as i just stated
probably 20 times this video and they do
a pretty good job of that and if we read
a little bit of the about us they say
that we believe that a more comfortable
world
is a better world that everyone no
matter their circumstances
deserves to put on clean clothes that
make them feel good
so we spend years perfecting socks and
t-shirts you'll want to live in
creating apparel you'll never want to
take off and for every item you purchase
for yourself
we donate an item to someone affected by
homelessness that's a really noble cause
and i can see that that this brand is
much more than just socks and t-shirts
they're actually a brand for a cause and
i definitely respect
this value proposition now just quickly
i want to prove to you that they are
generating at least a million dollars
per month by looking
at their traffic now if you don't know
every website needs traffic in order to
make sales right you can't really make
sales without
somebody visiting your site and i use
this tool called similar web
that allows me to basically check how
much traffic a particular store is
getting but as you can see in may of
2020
which was only like three months ago
actually that's kind of crazy to think
about that was four months ago wow
well may 2020 this store got 1.6
million monthly visitors now i have a
shopify store myself
and every time i get let's say a
thousand visitors typically my store
will net two thousand dollars
in that day for example and this has
been the case with other stores i've ran
in the past
and with the stores that i see my
friends running so i would say it's
pretty safe to assume
that this store generates at least a
million dollars every single month
if not multiple millions of dollars
every single month that's a lot of cash
so that means that this company is
giving away
a lot of socks they're claiming that
they donate an item for every item that
you buy so that's actually a pretty
ridiculous amount of clothes that
they've been giving out
i'm not sure exactly when this company
was founded but that's a really noble
cause and it actually makes me want to
buy some now the first thing that stood
out to me about this brand is of course
their design
and just how simple their store is it's
very easy to navigate which is always a
plus
and they've done a really great job of
putting their brand voice out there
one thing that stuck out to me from the
bottom here is their happiness guarantee
which i believe more businesses should
adopt what they say here is
the bombus customer happiness team is
your go-to when you need a
recommendation
a refund or just a reason to smile
seriously reach out
even just to say hi i love that i think
it's such a personal touch
it makes you feel like you know they
really care about you even if you don't
buy anything from them
and i think it really greatly affects
their conversion rate which is how many
people buy
based on their traffic so we don't
really need to guess how many
items they've actually donated because
they are very open about it and as you
can see
they have a chart that constantly
updates and they've donated 39
million items to people that's so many
items i mean
if you think about it that's basically a
whole country's worth
of people that they've donated things to
which is pretty unbelievable and like i
said i really respect this sort of
business because yes you could argue
that they're doing these things in order
to to add value to their brand and you
know to get more customers
but so what they're still doing a lot of
good to the world so even if they did
use this just as an excuse to get more
customers they're still making a huge
difference in the world and
that's definitely something to respect
at least in my eyes i don't know how you
guys feel about this let me know in the
comments of course one of the highlights
of my days is always looking at you guys
comments so make sure that you're not
shy
we're family here and i definitely want
to encourage you guys to speak your mind
let me know what you're thinking
let me know any ideas or whatever it is
that you want to say leave it in the
comments let's have a conversation but
anyways their website is really clean
very very simple i really love these
types of brands because they really show
me that you don't need to necessarily
have
the most amazing idea in the world or
just like the most innovative
techie product ever sometimes all it
takes is for you to have the intention
of giving value to people
and the determination to never give up
and you could build a business of this
magnitude
and that's really the purpose of my
channel in general is to encourage you
guys
to pursue whatever idea it is that you
haven't to build things
now great they are selling socks you
know that's not there's no rocket
science involved in here but i'm sure
they spent a great deal of time
making sure that their products are
actually insanely
high quality and maybe you only have a
thousand dollars here that you want to
spend maybe you're
in college right now or in school just
trying to think of ideas of businesses
to start
well let me show you how you could kind
of do this yourself there are many sites
like this but the one that i want to
show you is called printful and what you
can do with printful is
create and sell custom products online
now i use shopify obviously
create all of my websites and printful
has a seamless integration
with shopify and you can actually sell
custom
socks in here and what's cool about this
is that you could create your own design
now i'm sure that these socks are not
the most high quality socks in the world
but if you can think of a business model
that allows you to do some good in the
world
you could use any of these items and
build a really successful business that
doesn't just make millions of dollars
but that also makes millions of people
happy now i will say that 54 dollars for
three pairs of socks is a little bit on
the steep side
but they can definitely get away with it
through having amazing quality
an amazing customer service team an
amazing service and of course
donating to a worthy cause you know
somebody shopping on the store is
definitely not someone who's looking to
buy the cheapest socks out there and
that actually brings me to a really
great point as you can see i pull up a
google trends chart of the keyword best
now of course that's a pretty broad
keyword but the chart does not lie since
2004
to the present more and more people are
looking for the best
things they're not necessarily looking
for the cheapest thing they're looking
for the best thing
which does make it a little more
difficult for you to start a business
since you might need to invest more
money into actually getting
an amazing product but it's a great
thing for the world so it's kind of a
net positive
in general and this brand is a perfect
example of this i mean
socks like i mentioned earlier everybody
wears socks you could even go to like
walgreens and cvs or even maybe
gas stations somewhere and buy a cheap
pair of socks but these socks right here
are the best socks because not only are
there amazing quality
but they also donate to a great cause
which is amazing now i'm guessing if you
watch
this long you're probably one of my
loyal followers and you probably are
very
interested in sort of the back end of
this brand so what we're gonna do now is
actually take a look at some of their
ads
to get some marketing ideas that you
could potentially implement into your
business
or just out of sheer curiosity curiosity
is just the beginning
so let's actually take a look at some
things here now i'm using the facebook
ad library which is a free resource that
offers in order for you to be able to
check what ads
different brands are running so if you
have a favorite brand that you know
you could look them up on facebook on
the facebook ad library and check out
all of their active ads that they're
running right now
this is a really valuable tool and i'm
actually really surprised that more
people don't know about it
it's 100 free and as a business owner
this is really really juicy stuff right
here now as you can see they're testing
a lot of different variations of ads
so for example here what they did is
they kept the ad copy the same
so the ad copy is incredibly soft cozy
and in colors you'll love don't be
surprised if our stocks become your
favorite
they're using the same copy but as you
can see the thing that they've changed
is the cover photo uh or the thumbnail
of their ad so let's actually take a
look at the differences between these
ads
okay
[Music]
so one thing that i find interesting
about these
ads right here is that they're not even
mentioning anything about donating so
they're just talking about how comfy the
socks are
which is pretty cool so yeah this is a
really great ad only nine seconds long
very fitting with people's attention
spans nowadays i always say this in my
videos but i just hate ads that are so
long
nobody's got time to watch a long ad
make sure you make it quick
right to the point so people can just
watch it and move on with their day now
let's take a look at this one
so this one is basically the same thing
just with actual
feet as opposed to just the socks but
everything else is the same i'm guessing
this one is the same as well
just with a slightly different design so
this right here is a great lesson
on testing different variables for your
ad this is how you actually win
when it comes to facebook ads and
facebook and instagram are the main
advertising platforms that we use here
on this channel to advertise our
businesses so this is incredibly
valuable to learn about
let's see the difference in these so
yeah slight tweaks so for example in
this one they're making their logo white
as opposed to blue
that's the only difference and then here
they've made the background purple and
they've just kind of switched up
the whole video wow really really cool
stuff and it seems that these are
actually the only ads that they are
running right now so if we click on
active ads yeah that's the only ads that
we are shown maybe they are running more
ads and they're just not being shown to
us because facebook has been a little
bit glitchy lately not gonna lie
if we click shop now it takes us to a
collections page which is actually
interesting a lot of the ads that we run
just take people straight to a product
page but i can understand that since
they sell different
types of socks this could be a lot
better to just show people a large
selection of socks right away they have
a lot of different color variants for
socks so i don't know exactly how they
pull it off
their logistics team must be really
really good so if this isn't enough to
motivate you to start your business
already i don't know what is
honestly this is such a great example of
a business that's extremely simple
but executed so well that they're able
to generate
multi millions of dollars literally
selling socks
and i think this is such a great
testament to entrepreneurship and i'm
sure they started out really rough this
probably isn't how they started the
business
but i'm sure they fine-tuned it into
what it is today and that's the biggest
learning lesson that you can take from
successful people is that they've all
failed so many times but they continue
to fail forward and eventually get
to where their vision takes them but
that basically wraps up this video i
really hope that you enjoyed it make
sure you subscribe to the channel if you
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but with that said i hope you have an
amazing rest of your day and i'll see
you in the next one peace
you