Many brands launch with the hopes of creating a difference, but only a few are able to present back and be profitable, too. Sock brand Bombas, alternatively, developed a blueprint for this model.
Since launching in 2013, Bombas has donated greater than 100 million pairs of socks and other clothing essentials to those in need. By specializing in community first and product second, Bombas sparked conversations nationwide while growing right into a multimillion-dollar business.
Bombas co-founder Randy Goldberg shares how the brand grew right into a profitable business while prioritizing social impact.
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Prioritizing community
To construct a brand that makes an actual difference, it’s necessary to prioritize the needs of the people you are attempting to serve. Randy and his co-founders discovered socks were amongst probably the most requested items in homeless shelters, and felt compelled to assist. “We didn’t think there was a business idea at first,” says Randy. “We just thought, How can we solve this problem in our community that we just discovered about?”
Taking the community-first approach allowed Bombas to seek out a niche available in the market and construct a brand that focused on providing socks to people facing homelessness. “As we bought socks and donated them, we interacted with more individuals who were experiencing homelessness and commenced to understand there’s a business here,” Randy says.
Specializing in product quality
When it got here time to develop their product, Randy desired to design the perfect sock possible. He wanted people to purchase Bombas socks not only for cause, but because they loved the standard as well. Randy says he thought, “Perhaps if we redesign socks and make something amazing then we can assist solve an issue in our community.
“I bet a whole lot of other people don’t find out about [this problem] either, they usually’ll be keen on contributing to it, especially if our product is great.” Adding an amazing product to an already strong mission to drive social change helped the brand grow and make more profit over time.
Connecting with local resources
Today, Bombas has around 3,500 giving partners across 50 US states, however it began with only one. “We’d Google, ’sock donations’ [and start] increase a network of each small and enormous organizations,” Randy says.
It’s necessary to construct relationships with giving partners that support the work you’re trying to perform, because their perspective is amazingly necessary. The local resources can share recent needs, and even updated language you need to use to teach your customers.
“We used what that they had to say to update our website, and improve the manufacturing and distribution process,” Randy says. Allowing the local organizations to influence your enterprise model will help your brand make it through the long haul and overcome any changes to the industry at large.
Gathering feedback from the community
In relation to constructing a profitable business that also makes an impact on those in need, it’s necessary to proceed checking in with the community you’re attempting to serve. “We don’t just check with the shelters and the organizations that support and donate our products, now we have a lot of conversations with individuals who we meet on the subway, the streets, or a friend of a friend who’s facing a tough time,” Randy says.
This approach helps the team not only develop empathy and compassion, but additionally guide the best way Bombas approaches donation operations.
After connecting with local giving partners and the community, Bombas expanded into underwear and t-shirts, a few of its other highly requested items.
Bombas’ model of specializing in community, product quality, and native partners helped the brand establish a profitable business that makes real change.
To listen to more of Randy’s advice and discover Bombas’ strategies for branding and marketing, tune in to the total Shopify Masters episode.
