How can new fashion brands compete with bigger, stronger and more famous designer brands that have mega dollars to market their products with expensive ads, celebrity endorsements and social media takeovers? After all, the goal for the rookie is to one day become the famous designer brand, right?
If you love name brands then you probably love the look, feel, attention and presumed status that comes with wearing expensive designer labels, like Gucci, Prada, Ray Ban, Chanel, Louis Vuitton and the like. They are also competing with each other, only difference is they’ve got hefty marketing budgets to stay in the game. Check out these fashion rivalries:
Unfortunately, some really awesome and unique new fashion brands don’t have that same luxury, so they have to very carefully and methodically spend that shoe-string budget on marketing strategies that will give them the most bang for the buck. And after many sleepless nights, silent prayers, numerous introductions that seem to go nowhere, social media pics/blogs/posts, trade shows, newsletters, sales pitches to whoever will listen and robbing Peter to pay Paul, some new brands still can’t get in the game.
Halftime gives players a chance to rest, regroup, refresh and come up with a new strategy if they’re behind in the game. If you can relate, take a break and use it as an opportunity to change the momentum. Maybe you need to change your focus (flexibility is important), re-evaluate your product, change your packaging or narrow down the target market. Or maybe you just need to grind harder towards your goal. Whatever you do newbie, DON’T GIVE UP! Play to WIN!
PS. Don’t forget the newbies once you make it big!
Read about other marketing tips from the Business of Fashion: https://www.businessoffashion.com/articles/basics/the-basics-part-8-marketing