In 2014, Basic Outfitters co-founders Laura and Michael Dweck married and moved into a cozy apartment in NYC. It was quickly obvious whose clothing collection would take precedence in their precious and limited closet space. Michael’s eclectic and long-time accumulated sock and underwear assortment would have to go and be replaced by a fresh, new and curated collection of basics.
When it came time to refill his drawers, Michael was faced with the choice of expensive designer products or cheap, generic and poorly made basics, both of which would entail a stressful shopping experience. Michael and Laura recognized the overwhelming need for superior and affordable men’s essentials offered to customers in a convenient, easy-to-use way. And thus, Basic Outfitters was born.
Other than offering our customers unprecedented value with our high quality, low priced basics, we are also offering unparalleled convenience. With our flagship service, Create-a-Drawer, you can refill your entire basics drawer with up to 19 basics including socks, underwear, t-shirts and jogger sweatpants for only $60. Did we mention it takes under 2 minutes to Create-a-Drawer? Pretty sweet deal.
Account ManagementFor your reference, we've included some sample project ideas below. We encourage educators to mix-and-match components from various departments so that the projects are cross functional in nature. In all cases, we customize the projects based on company goals and course teaching objectives.
- Do a deep dive into the company and the industry from a sales and account management standpoint. How is the account management or client success team structured? Are they split by market sizes, geography, or verticals? How many accounts are the account managers responsible for? What level of service and interaction is required or expected in this industry? How does the company's model compare with the industry's?
- How does the company interact with their current customers? Survey the account managers and create a visualization of what their day-to-day looks like. Are there any processes that are redundant or inefficient? Anything that can be automated? How can they more effectively keep their accounts happy and satisfied?
- How are Account Managers incentivized? Do they use renewals, up-sells, customer satisfaction, net promoter scores, or new business? Are those effective or would other metrics be more effective? How can you best align incentives with internal operations to maximize success?
- Think about cross functional opportunities with sales, marketing, product, and ops. Create a hypothetical case where it would be beneficial for the Account Managers to have a cross functional team. What would it look like and how would the process be different? Who would you want in the room? What would count as success for the team?
Customer ServiceFor your reference, we've included some sample project ideas below. We encourage educators to mix-and-match components from various departments so that the projects are cross functional in nature. In all cases, we customize the projects based on company goals and course teaching objectives.
- Do a deep dive into the company's industry.
- Call the customer service line and document your experience. How do competitors run their customer service?
- What does the company do that makes their customer service more effective than competitors? What could they improve?
- How important is good customer service in this vertical or industry? How does it affect the lifetime value of the customer? How does the business model affect the level of service required?
- How does this experience compare with that of your host company?
- What process is the customer service team using to troubleshoot issues? What process improvements would you recommend? Pay close attention to communication tools, knowledge base resources, and follow-up procedures.
- Think about customer service operationally from an internal standpoint. How are issues and cases routed internally before arriving at a resolution? How can this process be optimized? Is information being circulated effectively internally? Should the company consider circulating certain materials externally as well? If so, how? Can we reduce redundancy by leveraging existing resources and cases?
- What is the customer feedback process? What are people saying on social media or other public-facing platforms? How can we better incorporate and address customer concerns before it escalates?
- What technology can be leveraged to improve the overall customer service experience for both the customers and the team members. Why would you recommend implementing new tools? How difficult and expensive would it be to implement? What is the likely impact of utilizing these resources?
MarketingFor your reference, we've included some sample project ideas below. We encourage educators to mix-and-match components from various departments so that the projects are cross functional in nature. In all cases, we customize the projects based on company goals and course teaching objectives.
- Do thorough research on the company's target demographic and product. Understand the problem at hand and how the company's product or service is solving that problem. Compare the company's products with the rest of the providers in the industry. Pay close attention to how other companies are marketing the product and positioning the brand.
- Examine the company's past marketing strategies. What worked? What did not? How would you showcase progress over time? Compile data into a visualization to track trends of successful and less successful strategies. (Note: You may want to compare the company's marketing tactics with competitors to showcase what works effectively - or not effectively - with the same consumer set).
- Conduct structured customer interviews to gain a better understanding of their preferences, purchasing habits, and decision-making processes. What information do you need to collect? Consider: a. Demographics b. Preferred discovery channels c. How familiar are they with product category / company brand
- Consider a 360 marketing approach when deciding the appropriate channel to pursue. Design a marketing mix for the company that you think will work best for the product, industry, and customer type. Where will you allocate your resources in order to generate the greatest impact? Consider paid advertising, social, display, content, guerrilla , experiential, affiliate, partnerships, etc.
- Suggest 3-5 - digital, experiential, social, etc - marketing campaigns for the company from scratch. What is the objective of the campaign? What are the distribution channels and expected costs? How will you measure the effectiveness (ROI)? Select one and develop a road-map or prepare to launch (depending on company resources and timing)?
- Select one marketing campaign and prepare it for launch.
- Why do you believe would be more impactful than what the company has done previously.
- What medium(s) will you use? How can you A/B test it?
- How much will this plan cost?
- How many weeks will it take to implement?
- Set goals for the campaign. How will you measure success?
- Are there any resources required to implement this strategy that the team doesn’t already have? If so where would you find them?
- What kind of asset production will you need? What other parties/vendors/teams will need to be involved? Map out a budget and timeline accordingly.