Sure the old methods of supply and demand coupled with quality products do remain as the backbone of any business and service provided. But, there is a new aspect to catching the consumer’s attention and making a name for yourself in the marketing business. And, this technique just happens to be the peer review or the review. Simply put, it makes a everyday comment about a business or product available to the masses. It is a serious money making tool and Fabletics is doing everything possible to ensure they get the most from their particular review strategy model.
Like most anything major that happens in the arena of big business, there is more than just a simple caused and effect to the review profit gaining model. There are players and key techniques involved to ensure that success is the main goal when getting the most out of a review. And, it all comes down to basically knowing the statistics involved and how to visualize the phenomenon that are behind them. That is where Fabletics employs of service of other businesses designed to cater to their needs and gets the best out of their mutually beneficial relationship.
The details breakdown quite nicely and actually show strong growth for Fabletics and what they do for the public. The first numbers to remember are the bottom line, which show a 200% growth since using reviews with 235 billion in total profits. That just happens to be more than 100 billion dollars in new revenue alone. The reason for this high percent in profit boosts is simple and easy to understand. It is because of a high percent of trust when it comes to how consumers feel about the reviews they read online. That number happens to be 84. That is to say 84% of people trust the reviews they see online.
But it is not just trust that is a major factor in the power and affluence of the review process. There is also a matter of frequent use. That is to say how often consumers review the businesses they choose to patron that is a major factor as well. Another big part of the review is the negative review which can pretty much steer 63% of the customer base away from a business. They are the final word in whether a business is going to see repeating and new customers.
The fact is people are not watching TV as much as they used to, and so the traditional method of mass marketing does not affect the consumer base as much as it used to. Smart businesses know that using the crowd to influence the crowd is one of the best ways to go as far as getting long-term attention to a business. Kate Hudson displays understanding and her recent run in with the press where Fabletics launches its collaboration with Demi Lovato. There, she stresses her savvy and strategic business plan to make the best out of the reviews that people give online without looking like she is trying. Without a doubt, that is the best way to get customers to come in. Have them do what you want without looking desperate.