Today, consumer purchases are strongly affected by the power of the crowd. Not so long ago, people used to trust a brand that was recommended to them by someone they know, but today they rely on online reviews from strangers. Savvy brands such as Fabletics are taking advantage of this change in consumer behavior.
From the time Fabletics was established in 2013, its premium membership customer base has increased by more than one million and earned the company over 235 million dollars in revenues, which is an estimated growth of at least 200 percent. A significant amount of the business’s achievements can be linked to the positive reviews marketing strategy that people are embracing, says Shawn Gold, one of the senior officers of Fabletics.
The company was able to achieve such a tremendous growth by leveraging the importance of positive reviews in today’s business world. What people say about your products or services can directly improve consumer loyalty, promote clients retention and increase your customer base.
People Trust Reviews
Nowadays, consumers search for products online before they decide whether or not to purchase them. They go through the reviews left behind to see what other people had to say about the brand. Interestingly, many of them make their final decision based on what they have read.
Trust – A recent study by BrightLocal discovered that 84 percent of persons trust the reviews that they see online as much as a personal referral from a family member, friend or colleague.
Frequent use – The number of people researching a business before they make a purchase continues to increase year after year. 60% don’t trust companies with negative reviews and 50% purchased from companies with positive reviews, meaning reputation is everything.
Commonplace feature– Surprisingly, today’s consumer value reviews more than pricing. Recent research by Vibes found that 65 percent of people search for product reviews compared to the 35% searches to compare prices.
Great Reviews Means More Revenue
The bottom line is great; honest review increases businesses’ sales. Also, they help rank your company higher on top search engines, attracting more customers, and eventually more revenue. SEO experts say that people always click on sites that appear on the first page of Google, and are more likely to purchase from them if they have authentic, positive reviews. In this light, it’s wise for you to include reviews into product or services that you are offering if you want to attract new customers, retain you’re the already existing ones and improve customer satisfaction.
About Kate Hudson
Kate Hudson is a Hollywood actress and co-founder of Fabletics. Since the company was launched in 2013, Kate has been on the forefront doing what she can to help the business grow. Today, the company is worth over 250 million dollars, which is a pretty good figure for someone with no business history.
Like many other companies, Fabletics had a rough start but managed to pull through. Despite all the negative press that Kate faced from social networks and other celebrities, she stayed focused and secured several amazing deals and partnerships for Fabletics. She emphasized the importance of improved communication, better customer services, and data drive system for better results. These are the three factors that led Fabletics to where it is today. Also, with the partnership and support of their Demi Lovato and TechStyle Fashion Group, their parent company, the future looks bright for Fabletics.