BY: Sarah Ritchie,
A few years ago “Bit Coin” made a splash in the online shopping world. BitCoin represented a unique way to purchase online items—through a newly devised currency that had nothing to do with greenbacks. A variation on this theme can be found at the new Marc Jacobs Daisy pop-up store in the SoHo neighborhood of New York; for, tweeting and other social media postings are the currency o trade.
The store was open for only three days, to coincide with the famed NYC fashion week. The pop-up store capitalized on the vast social media community that Jacobs had already built. Here’s how it works: customers use their Twitter and Instagram accounts to promote the pop-up shop. And, In exchange for posts with the #MJDaisyChain hashtag, customers are rewarded with free perfume samples. Consumers sharing particularly clever messages were eligible for handbag giveaways—worth many hundreds of dollars.
Enthusiastically embracing the power of social media, Jacobs knew that his Daisy fragrance routinely generated the most customer engagement, compared to other products in his lines. By piggy-backing on the existing social networks of his customers, he was able to create palpable “buzz” about the merchandise giveaway and multiply exponentially the number of people learning about the store. Moreover, by creating a pop-up store that was open for such a brief period, he created a scarce, time-limited opportunity that swept people into the store.
Retailers are now on their way to understanding and mobilizing social media tools aimed at drawing customers to their stores and driving up sales. No doubt, many retail leaders will be looking to this innovative strategy created by Marc Jacobs as a possible lesson in viral marketing—one that they might wish to employ.