Two entrepreneurs have taken their time to ensure that they offer beauty and elegance in the fashion industry. The fashion industry is vast and dynamic, but when you are dealing with the modern woman, you have to provide substance. You have to deliver well-thought designs at pocket-friendly prices. Such an approach is the only way one can establish a disruptive business in an industry that is dominated by big companies such as Amazon. When you are designing women garments, be they for the gym or former wear, you need to push the envelope further to get noticed. The creativity and amount of time that goes into your design will determine your success in the fashion sector.
Fabletics is among the few companies that have disrupted the fashion sector with an out of the box business model. Fabletics is the brainchild of three entrepreneurs, Don Ressler, Adam Goldenberg and Kate Hudson. The trio saw an opportunity that had not been explored in the fashion industry and ran with it. Since it was established in 2013, Fabletics has grown its revenues and clientele by unimaginable proportions to become a billion-dollar enterprise. Ultimately, one of the most important milestones at the company is not how much it locks in, every year instead it is how impactful the enterprise’s solutions are to the clients. Going by the customer base and the revenues the firm boasts of, it is evident that Fabletics has gotten it right in the fashion industry.
With Fabletics brandishing itself as an all-inclusive enterprise, it has managed to attract a wide range of clientele. Using technologies such as crowd-sourced reviews and big data, Fabletics keeps refining its marketing and manufacturing processes.
Don Ressler and Adam Goldenberg have always been keen on establishing their names in the corporate world. The two entrepreneurs are sticklers for detail making it easier for them to thrive in the fashion industry. Fabletics is not the only project that Don Ressler and Adam Goldenberg have steered to success in the fashion sector. Under the label Techstyle Fashion Group, the duo has established other niche-specific enterprises that offer a varying range of style products.
Some of the key drivers of growth at the Techstyle Fashion Group are technology and innovation. The enterprises under Techstyle have enabled a majority of Americans to change their fashion preference because they offer unique solutions at affordable rates. Fabletics has also contributed to the popularity of activewear across the globe.
With the active use of big data and crowd-sourced reviews, Fabletics has managed to align its manufacturing and marketing process so that they are centered on the specific needs of the consumer. Since the firm opened its doors in 2013, it has recorded insurmountable growth giving Amazon a run for its money. The power of reviews remains to be one of the biggest drivers of growth at the company.
The success of a company in the markets is significantly determined by the power of the crowd. This is mainly through reviews that are made by clients who have already used its products or services. Many people tend to read crowd-sources online evaluations of a firm before they decide to buy its commodities. According to research, consumers take the opinions seriously just like the recommendation that they get from people they trust. Top brands in various industries have recognized the new consumer behavior and are capitalizing on this when developing market strategies. Fabletics has joined the list of the businesses that utilize online reviews to build relationships with clients. The firm was established four years ago, and its worth has grown by over 200 percent. It boasts of over one million U.S-based subscribers and has accumulated profits of over $235 million. Shawn Gold, who serves as TechStyle’s corporate marketing officer, believes that positive clients’ reviews have significantly facilitated the company’s growth in the online fashion sector.
According to Kate Hudson, customer reviews have a great impact on the success of a brand, and she has been utilizing them in growing Fabletics. The company understands that sells, consumer retentions, and loyalty are greatly influenced by the opinions of its previous clients. The internet is accessible to many people, and therefore, the online reputation of a brand greatly determines its success. Most consumers do some research on products or brands before making their purchase decisions. A study that was done by BrightLocal revealed that over 84 percent of consumers trust the reviews that they read on the internet. Traditional advertising methods have less influence on consumers.
A top market research enterprise that is called L2 conducted research, which showed that about 76 percent of successful corporations have a review segment on their websites. The evaluations enable a business to gain the trust of consumers. Vibe also did a holiday shopping study, which revealed that less than 33 percent of clients visit online mobile phone stores to compare prices while 65 percent of the population are interested in reading reviews.
Brands that have been rated well by previous users of their products have a high chance of building robust relationships with clients. They also attract many customers, and therefore, make significant profits. Many companies have currently developed marketing strategies that are review-based, and this has enabled them to strengthen their consumer loyalty and return ratio. Search engines such as Yahoo and Google show the results of positively evaluated businesses on the first page. Google has joined efforts with various review companies to give brands Google Seller Ratings. Research indicates that clients are likely to focus on advertisements that have Google Seller Rating than unrated ones.
According to recent studies that were done by BrightLocal, the purchase decision of 74 percent of internet users can be manipulated by the information that they get from crowd-sourced reviews. Fabletics believes that the client reviews give the real image of a specific brand. The company seeks the opinions of its customers before manufacturing its products.
People in the marketing industry might say that EOS took a strategic gamble and won. They entered a market that was already filled with lip balm companies that were very successful and held the majority of sales. How could a small startup survive in head to head competition with the hugely successful lip balm giants like Chapstick, Blistex, and Burt’s Bees. EOS or the Evolution Of Smooth finally decided to share their very successful marketing strategy with the world
The fact is that EOS is the second best selling lip balm in the country and the little startup is making about $250 million dollars a year according to a consulting and research firm. In addition, the company is selling about a million a week. Some insiders state that EOS is responsible for the tremendous increase in lip balm sales that are expected to soar to billions in the coming years. This is due to their outstanding products and the natural and organic ingredients that are a company specialty and included in all their lip balm products. For more of the products, visit ebay.com.
Sanjiv Mehra, EOS lip balm cofounder and managing partner states that their marketing strategy was simple. Women were the main purchasers of lip balm products. Therefore, they focused primarily on women customers. They jumped on this tremendous opportunity by redesigning their lip balm containers and making them more attractive to women. They also focused on sensory perception. For example, adding aromas and special fragrances that captivated the senses. It appeared that EOS lip balm was the only lip balm that was primarily focusing on women. Their goal was to package an attractively designed lip balm at a reasonable price that was very unique. Their marketing strategy worked and has catapulted the small startup to unimaginable heights of success in the highly saturated lip balm industry. Head over to this.