The power of the crowd has recently become the main determinant when it comes consumers’ will to purchase. Customers of this time and age consider crowd-sourced reviews to choose their final purchase. They trust such reviews just like a personal recommendation from a friend or acquaintance. Savvy brands are making use of this behavior recently developed by consumers with review-centric marketing strategies. Since 2013, Fabletics Company has grown by over 200% by capitalizing in this method. It has generated over $235 million in revenue, and it spends over one million paying members.
Fabletics experienced such quick growth by exploiting the eminence of reviews in customer’s daily journey. Consumer reviews have a direct effect on customer acquisition, customer retention and improved loyalty for brands across all industries. Since most consumers are living digital lives in this current generation, online reviews have become a significant factor in making the decision. Consumers do their research on businesses and products online before purchasing, and they read reviews to make an informed decision about the product. People do not trust the traditional methods of advertisement and prefer to read online reviews for information. A study conducted recently showed that 84% of the people trust online reviews.
Online review is frequently used by customers with over half of the surveyed customers using it at least once a month. The negative reviews can affect the customers’ will to buy the product negatively or cause them not to use a business. Reputation remains one of the most impactful things to customers. Over 76% of top consumer firms leverage on user reviews on their product pages and website to course purchases. Since 2014, the number of brands including reviews on the website has increased by about 70%. Most customer value reviews over pricing. Well written reviews attract more customers, improve loyalty, more revenue to the company and greater return on the consumer acquisition investment. With positive reviews, the search ranking of the product, business or firm improves. The brand will rank higher in Google and e-tail sites such as Amazon, Walmart, and others. Reviews increase the likelihood of purchasing the product at 17%.
The number of people relying on online review has increased greatly. Trust, one of the largest review sites shows that there is high customer retention at 95% through the use of reviews. Most people visit Trustpilot each day to research and understand the brands and also to leave reviews. Crowdsourcing makes the firms to be transparent and customer focussed with their brands.
Kate Hudson has contributed significantly to the Fabletics. She is down to earth and enjoys an active lifestyle. Kate was involved in the budget review, choosing media or social media strategy, and is highly involved in the design process. She is in charge of selling department and ensures that the styles remain relevant in the market. She markets the product all over even when at home, he uses Fabletics products to attend the gym. Kate faced various challenges during the early days of the company, she faced negative media, criticism from celebrities and social media but she remained steadfast.
Kate Hudson led an effort to make clear communication a precedent. Kate ensured that Fabletics has a partnership with their parent company TechStyle Fashion Group, this has helped to enhance growth since the parent company had funds, experienced in online fashion and resources.
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