Who would think the saying: “One person’s trash is another person’s treasure” could be the

impetus for a burgeoning business model?

“Recommerce”, or the reselling of once used merchandise through informal or organized online distribution channels has been the answer to that question for quite some time.

This type of business model has actually existed informally for a long time before the Dot Com burst of the ‘90’s, however it was that era that helped propel this business model into the digital and connected world at the time. To that effect, we saw the creation of online multi-vendor platforms such as eBay and craigslist where private users were empowered to resell their “junk” to any viable bidder with an internet connection.

Since then, companies have been built and have since thrived utilizing the recommerce business model. In the early 2000’s technology retailers were offering professional buyback or trade-in programs. Consumers would be able to trade in an old electronic device  as a means to put credit towards another purchase of a newer device of the same category. Similar to trading in a car, more companies were implementing this credit program to drive sales and increase customer loyalty. Soon after, online stores, like Gazelle or NextWorth, popped up, taking a similar idea, but cashing out the sellers, and reselling goods for their own profit.

For the clothing and apparel sector, the implications of the recommerce business model have been especially lucrative. As of now, the secondhand retail apparel industry is worth about $20 billion dollars. Apparel recommerce brands have been benefiting from a consumer trend to shop sustainably, and now leading clothing brands are noticing the same trend.

These clothing brands are tapping into secondary markets, to reap the benefits of their apparel being resold on the third-party recommerce sites. As a result, some of the leading recommerce platforms have developed new programs to partner with these brand companies as a initiative to mutually benefit from the consumer base of both sectors.

There are four online Recommerce platforms responsible for revolutionizing the way the industry works: thredUp, Yerdle Recommerce and The Renewal Workshop. Each of which, have implemented new ways to partner with brand companies, and generate lasting and effective programs to increase sales for both recommerce platforms and brand apparel companies.

thredUP’s Loyalty Programs

Loyalty programs have proven to be good for business, and in this case good for the environment. thredUP, one of the biggest Recommerce companies on the web has implemented a loyalty program that gives consumer sellers the option to get paid out with a additional 15% if they opt into receiving a gift card in the brand seller’s name. This type of partnership is especially lucrative because customer loyalty brings in more sales over a longer period of time. There isn’t quite a better return on gifting a little extra to bring in a customer that lasts a lifetime.

Yerdle Commerce’s White-Label Service 

Yerdle Commerce has put in place a “white-label service” for apparel retailers where these retailers can manage their own recommerce stores through the Yerdle-owned platform. This tactic empowers brand name retailers to use the Yerdle platform, while seemingly acting independent but reaping the benefits of Yerdle (one being used-clothing repair). Yerdle understands that certain consumers might have a taste for brand name apparel but without the means to afford it. While the platform itself is generating sales and promoting their mission secretly, brand name apparel companies are generating sales in a market where they would not have originally  thought they could tap into.

The Renewal Workshop’s Revenue Sharing Agreement 

For stores like The Renewal Workshop, they offer a revenue sharing agreement with brand retailers that use their services and platform. The Renewal Workshop is a little different then Yerdle Commerce, in that while providing services to repair, clean and conduct quality assurance they allow retailers to either sell on the Renewal Workshop platform online or resell items in the Brick and Mortar location. Apparel brands first pay a “processing fee” and are free to choose how to sell the goods. (As a bonus, The Renewal Workshop provides ways for apparel companies to make clothing more durable, thus promoting their sustainability mission.) Although brand name’s aren’t positioned as the direct seller such as with Yerdle Commerce, the partnership still provides exposure to consumers looking to buy high-end fashion in an affordable way, where brand name’s still gain a profit.

As these partnerships continue to benefit from one another, both entities will see the impact such sales have on the larger consumer trend that is moving toward sustainable consumerism. Tapping into this market trend can effectively secure profitable goals for years to come, as environmental consciousness increases. Even without tapping into the environmental movement of today, there are still consumers looking to buy brands they can afford at full retail value. Bottom Line: Now is the time for brand apparel retailers to grow their business through the help of online recommerce platforms.

References:

https://www.windowswear.com/4-companies-pioneering-the-clothing-recommerce-market-greenbiz/

https://en.wikipedia.org/wiki/Recommerce

https://www.bostonglobe.com/business/2014/07/05/emerging-market-for-pre-owned-certified-smartphones/fFJPIs0AfTymQw1MhrgMYP/story.html

2018 is just about through, but that isn’t stopping the awards from rolling in! We’re glad to announce that Socialfix is on Clutch’s list of leading branding agencies AND their list of leading web design agencies. Talk about finishing off the year with a bang!

In case you aren’t familiar, Clutch is a leading B2B rating agency that uses data, client testimonials, and competitive analysis to find the countries most innovative digital agencies in everything from marketing to IT. Every year, Clutch goes through thousands of agencies to determine their annual list of leading firms. Needless to say, making this year’s cut is something we’re incredibly proud of.
We are passionate about what we do, so each award and recognition validates our vision for the future while motivating us to continue exceeding our clients’ expectations to push beyond industry standards.

It is an honor to be recognized next to our peers of outstanding agencies, and visionaries. We look forward to a new year of creative strategies and forward-thinking solutions.

Socialfix Media is proud to announce that its founder, Terry Tateossian, has been named as a 2018 Women’s Leadership Award Winner by CEO Report.  The annual award is given to CEOs and executives who demonstrate exemplary leadership abilities, in and out of the workplace, and also stand out as pillars of their respective communities.

Her leadership is on full display at the offices of Socialfix. A mixture of team autonomy to flex their creative muscles, combined with oversight ensuring everything that reaches clients is up to the Socialfix standard, results in a digital marketing company that’s often on the cutting edge of new trends and is always up-to-date with the most current and revolutionary technologies in the industry.

“I love attending these ceremonies,” said Tateossian. “It’s not an ego thing, sure I appreciate being recognized with awards like this one, but what I truly love is meeting the other recipients and getting to know so many amazing women, all in one place.”

The award ceremony will take place at 5:30 p.m. on Oct 10 at the Down Town Club in Philadelphia. For more information, or to secure a ticket to the event, please contact Erin Thomson, Mid-Atlantic Market Director at ethomson@ceoreport.com or call (267) 538-1027.

CEO Report’s mission is to connect, inform, and inspire the business community through its website, newsletter, connections at C-level events and the CEO Report Network. The Women’s Leadership Awards function to highlight women who excel at leadership roles in their field and still find time to contribute to the improvement of their local communities.

If you’re online, then you’ve no doubt been hearing about GDPR. But what even is it? Why is it a concern? And what do you need to do to make sure you’re compliant? We’ve got the answers to all your GDPR questions.

What is GDPR?

The General Data Protection Regulation (GDPR) is a new set of laws and regulations designed to better protect the privacy and sensitive data of EU residents. Since coming into effect earlier this year, GDPR has shaken up the way companies interact with consumers and their data in a variety of ways:

• A company’s terms and services for having consumers consent to an online service now have to be clear, concise, and easily understandable. Consent must also be as easy to withdraw as it is to give.
• Data subjects now have the right to obtain information on if and how their data is being processed, and to have the controller of their data fully erase and cease the use of any their data the company has on file. The data subject also has the right to receive a copy of their provided data
• Customers and data controllers must be notified of data breaches within 72 hours of the breach being found.

Companies that fail to comply with GDPR regulations can be fined up to 4% of their annual turnover or €20 Million (whichever is more).

Will My Company Be Affected?

If you’re located in the EU, the answer to this one is pretty simple – YES. But you think you’re excused from these new regulations by not being a European company, you’re probably mistaken.

The jurisdiction of GDPR extends not only to European companies, but any company that holds or processes personal data of EU residents. This means that if it offers goods and services to, or otherwise monitor data of EU individuals, a non-EU company is subject to the same rules as a company based in the EU.

How Do I Stay Compliant?

With the steep penalties for non-compliance, your concern is probably (or at least should be!) making sure your company is up to the necessary standards. The first thing you should be looking at is your privacy policy. The changes to consent conditions have made largely changed what makes an acceptable privacy policy, and frankly, most pre-GDPR policies don’t meet the new requirements.

Another important step is auditing your databases. Make sure all of your data is complete, consistent, and most importantly was given with perfectly clear consent from the data subject.

Any holes in your data put you at big risk of breaking compliance, so it’s a little bit of spring cleaning is well worth your time.

One more thing to consider is the importance of communication. Silently making adjustments in the background may not be enough, especially if there are new terms and policies that customers need to agree to. Make sure you’re being clear with your customers about their privacy rights and informing them of any changes to policies or terms.
If all this still sounds confusing, there’s no need to worry! At Socialfix Media, our team has the resources and the know how to ensure your company’s website and operations are 100% GDPR compliant. So what are you waiting for? Reach out to us today and let us help you, we can’t wait to get started!

This last week, Socialfix founding partner, Terry Tateossian attended this year’s Leading Women’s Entrepreneurs (LWE) retreat. This year’s destination? Spain! This trip offered an incredible chance to meet other business owners and forge new bonds, expand company horizons, and of course have fun in beautiful Spain!

Spain was the perfect choice to match the theme of the retreat which was the “Art of Business and Adventure.” After all, Spain is a country rich with fascinating history dating back centuries. The attendees took in the country’s culture with a flamenco show, tours of Gibraltar and Malaga, a winery tour and tasting, and more. These experiences allowed everyone to see a vibrant and thriving country with many potential business opportunities.

Throughout Spain’s history, female entrepreneurs have had to face numerous societal barriers in order to prove themselves and their abilities. Spain’s patriarchal society has changed significantly in the last decade, and especially in the last several years. Spain faced an economic crisis, and the unemployment rate reached an all-time high at 20%. Fed up with low wages, many women started businesses of their own. Due to this, the number of companies created by Spanish women has almost doubled in the last years, to just below 40%.

Spain has survived their economic downfall and is now back on the path to success as their economy is growing again. This turn of events has many Spanish citizens feeling confident and optimistic about the future, which Terry and the rest of the LWE group got to experience firsthand.

Nowadays, it has become increasingly common to see women in leadership positions in companies. This influx of women in business has gone a long way in proving that women are vital to the future of Spain’s economic recovery. This presented a wonderful opportunity for the women in this retreat to form powerful connections.

This year’s LWE Retreat was certainly an incredible experience. Not only were the women fortunate enough to plant the seeds for future collaborations with new partners in Spain, they were also able to spend time bonding and talking business with each other. This trip provided the opportunity to those who attended to network and develop relationships with other strong female entrepreneurs. The relationships formed in Spain have the potential to unite individual visions and bring all those who participate to new professional heights.

Website hacks are certainly not a new thing, but these days the threat of being hacked is more prevalent each and every day. With the explosive growth of E-Commerce and the importance that companies (correctly) place on their online presence, hackers are ramping up their game, with even big name companies showing up in the news over high-profile hacks. But there’s no need to fear! The hackers aren’t going away, but there are best practices that can (and should!) be followed to keep yourself safe.

Updates Updates Updates!

Listen, we get it. Nobody likes having to update things, but that’s the first thing you should be doing to keep your website secure. Plugins, themes, and anything else that could present a potential for security breaches need to be kept up to date. Above all, the most important thing to maintain is the CMS installation itself. A number of very popular CMS platforms such as WordPress and Drupal are completely open-source, which means it’s code is available for anyone and everyone to get into, for better or for worse. Because of this, developers are in a constant war against those who try to take advantage of this for nefarious purposes. Whenever vulnerabilities are found, patches are usually pushed out very quickly. If you aren’t installing these patches just as quickly, you’re leaving easy targets for hackers to exploit. Keep in mind that depending on how your website is developed, you may run into compatibility issues and other bugs when updating your CMS, plugins, or themes. For this reason, it is always recommended to have someone with development experience on hand to assist if needed.

Strong Passwords = Stronger Security

Now, this one should be obvious, but it’s so important that we had to include it. One of the first thing a hacker will do is try to break in through the front door by capitalizing on weak logins. For this reason it’s important to ensure that all usernames and passwords are strong and hard to guess. Passwords should be completely random with the max character limit allowable. Best practice is to use a combination of uppercase and lowercase letters, as well as numbers and special characters. For usernames it should be a similar story, making your username something harder to guess than “admin” can go a long way.

Safe and Secure, Inside and Out

Hacks don’t always come from faraway sources over the internet. Sometimes the breach can come from inside, making internal security just as critical as external. Now don’t worry, we aren’t implying your employees and coworkers are scheming to take down your site, but ignoring the threat of internal breaches leaves you open to unexpected attacks. Make sure all employee logins are secure, admin access is restricted to only those who need it, and every device that enters your network is scanned for malicious software.

Stay Alert to Stay Safe

Ok, so you’ve secured your logins, and everything on your site and on your network is up to date, so now everything is safe, right? Unfortunately, security just isn’t as simple as that. Unexpected attackers can slip through unseen cracks even on the most secure sites. Catching these incidences early can be the difference between a slight scare and a complete catastrophe. The same way you go to the doctor for checkups, you should be scanning your sites regularly for malware, phishing, and scamming; the most common symptoms of a hack. We recommend monitoring for malicious files and activity on a daily basis.

Keep a Backup (Or a Bunch of Them) Just to Be Safe

But what if the worst case scenario happens? What if someone managed to not only get into your website, but majorly mess it up? Cases like this are why maintaining a site well includes making regular backups of it. Monthly, or even weekly backups of your website and its content prevent hours of development time and irreparable damage to your company’s reputation by allowing you to roll your website back to a previous and untampered version. In some cases, daily backups may be the most appropriate option if you are updating your website very regularly.

The threat of hackers is a real and dangerous one, but that doesn’t mean you or your company should avoid or abstain from the internet to be protected. Maintaining proper security practices and protocols can help immunize your site from this plague that’s sweeping the internet. That’s why at Socialfix Media, we do it for you! We offer comprehensive website maintenance and protection plans to keep you and your customers safe, and prevent your website from catching the virtual flu. Let’s connect and discuss your website’s cyber-security strategy!

Socialfix at the Business of Equality Summit at the Bloomberg Headquarters in NYC as the Digital Marketing Partner for The Unicorn TV, a new crowdfunding platform launching in the Fall 2018.

We might be a digital agency by definition, but we are attuned to the fact that in-person interactions and connections are sometimes the best way to build brand awareness for an organization. For the Socialfix Team, we have put that into practice throughout the past couple of months as we took on a few different conferences spanning across the country and various industries.

Our travels began in mid-April with the New Jersey Builder Association’s Annual Builders Convention in Atlantic City, NJ. Then we sponsored the first annual NYC Society for Human Resources Management (SHRM) conference in New York City. From there, we set out for Los Angeles, CA for the Women Presidents Organization’s (WPO) annual conference and back to NYC, where we attended the Bloomberg Equality of Business Summit. Needless to say, the past couple of months have been packed full of action, engagement, and connections.

The New Jersey Builder Association’s Atlantic Builders Convention (ABC) is the event of the year for builders from the NJ region, bringing in companies from across the state to convene in Atlantic City for trade show exhibitions, networking receptions, and educational seminars. We found that this year’s convention was especially successful in terms of attendance, thought-provoking presentations and exhibitions, and the caliber of exhibitors. Socialfix attended as Master Sponsors for NJBA for the third year, providing video coverage of the event that specifically highlighted the new exhibits and attendees of this year’s conference to encourage membership and attendance for years to come.

Similar to ABC, we extended our video capabilities to the first annual NYC SHRM conference in New York City. At the SHRM conference, we covered the event and interviewed influential professionals in the HR industry to help promote this conference going forward, as it was the first NYC conference and the organization plans to broaden its reach in this chapter as each year turns.

We applied the same approach to the WPO conference that we attended and exhibited in Los Angeles, CA. Although this was not the first WPO conference, it was our first time attending, and in similar routine, we brought our video team to record our experiences and share with others. We gathered the footage to illustrate the impact of the conference’s thought-provoking speakers, networking opportunity, and membership benefits. While attending, we were consistently impressed with the stature and merit of women who belonged to the organization and spoke at the event.  This was specifically highlighted during the annual ranking of the 50 Fastest-Growing Women-Owned/Led Companies during the conference. The aggregate revenues of the companies amount to $8.3 billion. We captured the winner’s panel after the award ceremony, where the leading company’s owners shared advice for fellow WPO members. As a part of the presentation, we were pleasantly surprised by Golden Globe and Oscar winner Viola Davis, who spoke about being an entrepreneur and overcoming adversity to succeed in her career.

Socialfix Team Members hanging out at a WPO networking event in Los Angeles, CA.

The last big event of the season was back in NYC, for the Bloomberg Business of Equality Summit at Bloomberg Headquarters in New York City. Socialfix is the digital marketing partner for The Unicorn, a new TV show being aired on the Bloomberg television network this fall, and as a part of that role, our team attended to build awareness of the show through making personal connections, while also capturing testimonials from attendees to illustrate the topics discussed throughout the day.

In usual fashion, Socialfix never misses a moment, whether that be on-camera or in-person. Find out how we can help make the most of your company’s next biggest moments. Reach out for more information at hello@socialfix.com.

Terry Tateossian, founder of Socialfix Media, is joining the YEC Founder’s Panel Discussion on how to create a balanced company culture as a modern-day startup or business. The panel will convene from 6-9 p.m. on Wednesday, June 27 at Emerge212, 1185 6th Ave. in NYC.

The Young Entrepreneur Council (YEC) is an invitation-only organization for entrepreneurs younger than 45 whose North American-headquartered business generates a minimum of $1 million in revenue or has a minimum of $1 million in financing. The goal of YEC is to provide the resources and connections that young entrepreneurs need to become successful in the ever-changing world of modern business.

The panel will be moderated by James Kleeman, director of Emerge212, and will feature Terry Tateossian, founder of Socialfix Media; Jonathan Gass, co-founder and CEO of NoMad Financial; and Matthew Moisan, managing partner of Moisan Legal. Panelists will speak on how to create a balanced company culture, acquiring the right talent to fit your company’s culture, and various gems of advice the founder’s panel deem pertinent to help new entrepreneurs find success in their professional and private lives.

We might be a digital agency by definition, but we are attuned to the fact that in-person interactions and connections are sometimes the best way to build brand awareness for an organization. For the Socialfix Team, we have put that into practice throughout the past couple of months as we took on a few different conferences spanning across the country and various industries.

Our travels began in mid-April with the New Jersey Builder Association’s Annual Builders Convention in Atlantic City, NJ. Then we sponsored the first annual NYC Society for Human Resources Management (SHRM) conference in New York City. From there, we set out for Los Angeles, CA for the Women Presidents Organization’s (WPO) annual conference and back to NYC, where we attended the Bloomberg Equality of Business Summit. Needless to say, the past couple of months have been packed full of action, engagement, and connections.

The New Jersey Builder Association’s Atlantic Builders Convention (ABC) is the event of the year for builders from the NJ region, bringing in companies from across the state to convene in Atlantic City for trade show exhibitions, networking receptions, and educational seminars. We found that this year’s convention was especially successful in terms of attendance, thought-provoking presentations and exhibitions, and the caliber of exhibitors. Socialfix attended as Master Sponsors for NJBA for the third year, providing video coverage of the event that specifically highlighted the new exhibits and attendees of this year’s conference to encourage membership and attendance for years to come.

Similar to ABC, we extended our video capabilities to the first annual NYC SHRM conference in New York City.At the SHRM conference, we covered the event and interviewed influential professionals in the HR industry to help promote this conference going forward, as it was the first NYC conference and the organization plans to broaden its reach in this chapter as each year turns.

We applied the same approach to the WPO conference that we attended and exhibited in Los Angeles, CA. Although this was not the first WPO conference, it was our first time attending, and in similar routine, we brought our video team to record our experiences and share with others. We gathered the footage to illustrate the impact of the conference’s thought-provoking speakers, networking opportunity, and membership benefits. While attending, we were consistently impressed with the stature and merit of women who belonged to the organization and spoke at the event.  This was specifically highlighted during the annual ranking of the 50 Fastest-Growing Women-Owned/Led Companies during the conference. The aggregate revenues of the companies amount to $8.3 billion. We captured the winner’s panel after the award ceremony, where the leading company’s owners shared advice for fellow WPO members. As a part of the presentation, we were pleasantly surprised by Golden Globe and Oscar winner Viola Davis, who spoke about being an entrepreneur and overcoming adversity to succeed in her career.

Socialfix Team Members hanging out at a WPO networking event in Los Angeles, CA.

The last big event of the season was back in NYC, for the Bloomberg Business of Equality Summit at Bloomberg Headquarters in New York City. Socialfix is the digital marketing partner for The Unicorn, a new TV show being aired on the Bloomberg television network this fall, and as a part of that role, our team attended to build awareness of the show through making personal connections, while also capturing testimonials from attendees to illustrate the topics discussed throughout the day.

In usual fashion, Socialfix never misses a moment, whether that be on-camera or in-person. Find out how we can help make the most of your company’s next biggest moments. Reach out for more information at hello@socialfix.com.

If one were to take a walk around the Socialfix offices, it would be no wonder why they were included in CEO Report’s (formerly SmartCEO) list of the Top 24 companies in the Tri-State that exhibit exceptional corporate culture. The team is friendly and fun while maintaining a professionalism that consistently impresses both existing and prospective clients.

Last month, the Socialfix team was in attendance at NFL Experience in Times Square for CEO Report’s 2018 Tri-State Corporate Culture Awards Ceremony.

https://socialfixmedia.wistia.com/medias/itje0ip9ca

“We are really excited about receiving the Corporate Culture award for the second year in a row,” said Terry Tateossian, Founding Partner at Socialfix Media. “We have a very entrepreneurial vibe at Socialfix. We’re a homegrown agency where everyone is responsible for their own productivity, but still have a team to support them when they need it. The way I see it, if the team isn’t satisfied and fulfilled in their work, then the work will suffer, but if everyone shows up every day and has a sense of purpose then it’s a win-win for everyone involved.”

The CEO Report corporate culture awards program highlights businesses in the Tri-State area that foster a creative and collaborative culture to enhance performance and sustain a competitive advantage. It’s important for business owners to cultivate and develop a corporate culture that both encourages productivity while making employees feel secure, supported, and valued.

Socialfix Media is a full-service digital marketing agency. Website design, video production, social media management, and graphic design are just a few of the services offered. Socialfix prides itself on being at the forefront of the new trends and technologies that are shaping the digital marketing world. Socialfix Media has offices in New York, New Jersey, and California.