The internet has had a real impact on the manner in which business is conducted in the modern period. Among the disruptive new trends to modern business, practice is crowd leveraging. This is based on the fact that customers often look at crowd-sourced reviews and rely on them to make purchase decisions. Recent trends have proven that customers trust these reviews almost as much as they would a recommendation from a friend or a close acquaintance.
Most of the successful businesses today have become aware of the power of the power of the crowd and have established means to use it to their advantage. One such company is Kate Hudson’s Fabletics. Founded in 2013, Fabletics has attained a 200% growth in four years to raise 235 million dollars in revenue and secure one million active subscribers. This exponential growth has been occasioned by a stellar crowd leveraging strategy according to Techstyle Fashion Group corporate marketing officer Shawn Gold. Techstyle Fashion Group is Fabletics’ parent company.
Consumer reviews are effective in enhancing brand loyalty, customer retention and increased customer acquisition across all industries. This makes it among the most effective marketing strategies in the modern internet-based market. With most clients spending considerable amounts of time online, it is only prudent for them to research companies and their products before making a purchase decision. Often showing distrust for the company information as contained on the official website, most consumers consider consumer reviews as more trustworthy as they are a third party without any vested interests in the positive or negative nature of the publicity a company receives. The general feeling is that of a consumer leaves a positive review, it must mean that they were truly satisfied with the service or product that they received from the company.
Fabletics has taken advantage of this to create a strong brand with a strong online presence, thereby claiming a stake in the highly competitive fashion industry. Among the founders of Fabletics is actress Kate Hudson. Kate Hudson has become the face of the company, which specializes in the production of athleisure wear for women. It was founded in 2013 to target the female market which had been all but shunned by sportswear companies, most of which concentrated on making male clothes. Fabletics took advantage of this neglect to come up with a brad that was accommodating to all women regardless of their body shape, size or age.
When Don Ressler and Adam Goldenberg determined to start a female athleisure brand in 2013, they found that they needed a female partner to serve as the face of the company. Their first choice for this position was Kate Hudson. In a short four years since this partnership was established, the young actress without a business background has been able to grow the Fabletics into a multimillion-dollar enterprise. She has been deeply involved in the company processes, especially taking charge of the marketing process which has seen the Fabletics brand grow exponentially in a few short years. It is now one of the biggest athleisure brands for women globally.