The will of the consumers to acquire products from a particular firm is determined by crowd’s power. In particular, the customers rely on crowd-sourced reviews when deciding on where to buy goods and services. They regard the reviews the same way they treat personal recommendation. Many companies have taken advantage of the behavior of the consumers as a marketing technique. The techniques are what is behind the increase of the worth of Fabletics by 200 percent since it was founded in 2013.The strategy has enabled the company to earn more than $235 million.
The growth of Fabletics is attributed to the maximum utility in the use of customers’ reviews. The reviews determine the number of customers that buy from a company, purchasing behavior of the customer and the number of customers retained. The loyalty of customers to particular brands is also determined by the online reviews. The technological advancement in the world makes the online reviews important components in decision-making. Customer conducts rigorous research online before choosing a company to purchase their goods and services. Many people trust the online reviews as compared to traditional techniques of marketing.
Data generated from research conducted recently indicates that 84 percent of the customers prefer online reviews. Negatively online reviews discourage the customers from shopping from a company. The reputation of the company is tainted by negative reviews. More than 76 percent of the companies leverage on customers’ reviews. The views are obtained from the websites of the companies. The numbers of reviews on the websites of companies have experienced 70 percent increase. Positive attract more customers, increase customer retention and improve the loyalty of consumers. The effects of positive reviews are reflected in the increase in revenue. Increasing the number of positive reviews improves the ranking of a company. The rankings are done by google and e-tail sites. Positive reviews increase the chances of the customer buying from the company by 17 percent.
Many people depend on the online reviews in the current digital generation. About 95 percent of the customers are retained through positive online reviews. Sites such as Trustpilot are visited by many customers to check for favorable brands and to write reviews on particular products. Crowdsourcing is efficient marketing technique which portrays transparency and improves the customers’ focus on a particular brand.
Kate Hudson is recognized for her contribution towards the growth of Fabletics. She is active in ensuring that the performance of the company improves. Some of the areas in which she is mostly involved in include social media strategies and design procedures. She is also involved in brands marketing. She makes sure that the brand’s design suits the needs of the consumers. She uses the products from the company while going for exercises at the gym. Her behaviors reveal her dedication and commitment in marketing the products from Fabletics.
Kate negotiated for the signing of a partnership between Fabletics and TechStyle Fashion Group. TechStyle Fashion Group assist Fabletics regarding online services. The move helps Fabletics to reduce marketing costs. Every consumer should do life quiz which is fundamental in choosing best brand of Fabletics. The life quiz assists the consumers to decide on the brands that are comfortable for them