In the currently technological advanced society we live in, a lot of businesses realize that purchases made by consumers are more and more being determined by the power of the crowd. Most individuals these days use crowdsourced reviews to help guide their purchasing decisions. The trust placed on these reports by potential clients is so high and can only be compared to that recommendation a close friend or even work colleague can give you. Tech-savvy brands such as Fabletics have uncovered this fact and are using it to better understand their client’s behaviors before designing the appropriate marketing strategy.
Since Fabletics inception in2013, the company has grown by a percentage that exceeds 200% becoming one of the most recognizable brand successes of the past decade. Currently, Fabletics has a paying membership base that exceeds one million clients. Its revenue has also surpassed the $250 million mark. The firm’s corporate marketing Officer has attributed the steady growth of Fabletics to understanding and embracing user reviews.
It has been proved by the current generation of customers that client reviews alone can drive substantial customer acquisition, improve the loyalty of existing clients while at the same time serves as a platform for client retention by brands in various sectors of the economy. What sets Fabletics aside from most companies in the same niche as them is that they leveraged the popularity of reviews by the current digital generation of clients to dive their growth.
Today’s consumers are very different from ones from a decade ago. This Is attributed to the fact that most of them are leading increasingly digital lives. Taking a look at all the social media platforms explains this concept more. People these days tend to research on almost everything before they commit to buying the product or service.
Since this is done online, when a potential client needs more information on a particular brand, they always turn to product reviews to help them know more about these companies and what other people are saying about them. Statistics show that close to 84% of individuals who read the online reviews trust them. These figures keep growing each passing year.
A survey recently carried out showed that 60% of clients did not try a particular product or service due to the negative reviews they read, more than 50% of interviewed customers stated that they regularly read reviews on products online regularly. At the same time, there has been an increase of about 23% of individuals who read reviews on a yearly basis. There has been a dramatic growth of user review websites. The main reason behind this trend is the fact that authentic positive analyses have been used to boost the sales of product and services by brands.
Even with Kate Hudson’s recent success with Fabletics, she has maintained that it is too early to speculate her departure from her acting career. When she was asked on how she would love to be remembered, (an actor or businesswoman) Kate stated she loves being recognized as an actor who managed to do great things as an entrepreneur. Considering that Fabletics merchandise stands for empowering women, our readers who share the same vision as Fabletics ought to take the company’s lifestyle quiz that will help them determine which gear is best suited for them.