An entrepreneur from a tender age, Adam Goldenberg started an advertising network Gamer’s Alliance at 15 years. After graduating high school, Adam joined his parent’s company Intermix Media before moving to Alena and MySpace in the year 1999. Adam Goldenberg met his long-time business partner Don Ressler while working at Intermix Media, which was acquired by New Corp., for over $650 million in 2006 forcing the dual to start a new venture, Intelligent Beauty soon after.
Apparently, Adam Goldenberg and Don are co-CEOs of JustFab Inc, launched in 2010. It has grown to a global leader in the category of e-commerce subscription with over 30 million subscribers in just three years. Recently, JustFab has expanded its territory into the European market including Netherlands, Spain, France, and Germany.
Adam Goldenberg attributes JustFab’s success to being metric-driven as they learn quickly and adapt to business changes. One of their strategies is to keep an eye on the number of subscribers daily and sometimes hourly to remain nimble. JustFabs upholds full transparency in all its activities by sharing actual figures, either good or bad with all its members helping everyone understand the tactical approaches to take to keep the business thriving.
JustFab’s customers have been significant in helping the company invests successfully. They regard customers’ feedback on huffingtonpost.com as an important aspect in promoting business as it helps deliver tailored products that meet customer needs. Initially, JustFab made a mistake in pricing new product category like jewelry, but after understanding that the clients were unwilling to pay $39.95 for sunglasses and jewelry, necessary adjustments had to be done to meet the value proposition. JustFab’s customer support is keen in understanding customers’ needs and use their feedback to guide the merchandising decision.
Strategies of JustFab
JusFab is dedicated to hiring passionate and qualified staff. Even if a candidate may have an incredible resume and working experience, JustFab focuses on what they are passionate about to know whether they can thrive in the organization at http://www.bloomberg.com/research/stocks/private/person.asp?personId=1477272&privcapId=37181322. Organizational culture has been instrumental in helping the company succeed in a competitive industry, and one of their mantras is being passionate about the corporate brand.
To keep the staff motivated, they pay a great deal in recognizing individual contribution through rewards and promotions. Ultimately, while most companies focus on the merchandising approaches rather than the products they sell, JustFab is keen in offering satisfactory products despite having catchy commercials and funny social media channels.