Monetization – Model based on core customer’s behavior
Alicia Kenworthy – Monetization – Develop a model based on core customer’s behavior.
Monetization is a big topic. Technology companies get the companies a little more than we do, because we’re selling a product, which is a rare thing in Silicon Valley sometimes, but we make money by selling the bras. In terms of customer acquisition, that’s a big question. How do you get those first customers? And there are a lot of things that we’re thinking about. There are traditional techniques like referral programs and incenting people to make repeat purchases by limiting the time that things are available.
We haven’t settled on—we haven’t exactly settled on with what we’re going to do, because I’m sure it’ll a million times over, so I won’t pretend we’re going to do something that we aren’t, but we spend a lot of time looking at what are a woman’s purchase behaviors and how can we integrate that into our model. That was something, when I went to work as a bra fitter at Nordstrom, I noticed what color women are buying, how many bras they buy at one time, what their practices are when it comes to fit, how often they come back, what makes them decide to go for the hot pink bra in addition to their traditional black and beige?
So there are a lot of those experiences, I won’t speak to in depth, but then we try to translate into the online model, and you’ll see that when we launch and our sales techniques.