Online based businesses and businesses using social media for their marketing are common place now in 2019, but that was not always the case.  In 2010, a group of classmates from the University of Pennsylvania decided to break the mold of business and advertising by opening an eye glass shop, Warby Parker, by utilizing only online distribution. They marketed the idea through YouTube videos and social media platforms such as Facebook, Twitter and Instagram. Below shows business objectives and how to attain and measure using social media.

Social media technology was a great help in carrying out the new business model for Warby Parker. How many times have you seen an advertisement scrolling Facebook, or a “how-to” video on YouTube that just made you want to try the product? Sometimes it’s what you are looking for and didn’t know the actual product existed or it’s something that you didn’t know you needed until you saw it. Since Warby Parker didn’t have any overhead costs associated with their business they were able to spend more time and money on creating solid products.

Aren’t you more likely to purchase products you see your friends like? Social media allows word of mouth marketing to play a role in their alternative business model also. Nielson reported that 92% of people believe suggestions from friends and family more than advertising. By asking people to post pictures of themselves wearing their glasses on their own social media they were gaining the trust of thousands of people over time. If the company were to use more traditional media environment, they would have faced several challenges. First, they would not have been able to launch their company with only a $2500 investment.  This could have potentially increased the cost of the glasses they were selling, as well as impacted the reach the company had with a lower budget.

One of the things Warby Parker had to do in order to be successful was reduce dissonance for consumers that might want to switch.  One of the things that would have been conflicting to consumers is having to purchase the glasses without trying them on. This is something we are all so used to – can you imagine wearing something everyday, that changes your entire face and look, without once seeing how it looks on? In order to combat this issue Warby Parker created YouTube videos showing how their business was different but also how to use them. One of the other things the company did to reduce dissonance was to allow the consumers to order up to five pairs of glasses and then return the ones that they didn’t like. Aren’t you more willing to purchase products if you know the returns are simple and easy? This is exactly what the company was going for.

While the business model was new to consumers they were able to be successful. They sold over 500,000 pairs of glasses and also began donating pairs for every one that was purchased. By using social media they were able to gain a following and interest with a much smaller investment and budget than would have otherwise been needed. As companies continue to follow this model we as consumers, are able to get really awesome products for lower costs than the big brick and mortar stores. This is something that gets me excited, does it excite you too?