Question 3
You have been appointed the Director of Communications for a sustainable fast fashion company that wants to engage millennial customers more effectively by using the social media platform. Until now, the company was relying on more traditional communication strategies such as billboard, print and TV advertising.
- How would social selling be adopted to engage millennial customers to buy the
products sold by the company? (15 marks)
Due to the extensive increase of social media uses as well as consumption patterns, companies are forced to redefine their marketing strategies to remain competitive. Millennial serves as the most important group of social media users since their age closely relates to the era of peak social media usage. Instagram, for instance, serve as the most popular platform of social media with more than one billion active users every month. Besides, the platform sees over 100 million videos and photos uploaded daily, where the most significant number of uploaders is millennial. As the Communications Director of fast fashions organization, I will consider the most viable techniques for engaging the millennial customers through social media as this will significantly enhance the company’s sustainability.
The first strategy I will enact for social selling is reaching millennial using the elements that they care about. Some of the aspects that millennial care about are subjects related to feminism, animal rights, racism, LGBT rights, sustainability, inclusivity, and environmental protection. A recent survey asserts that more than 50% of the millennial chooses to buy products from brands which support the subjects of their interests. For example, most businesses make huge sales through the use of an online campaign which asserts that for each product bought, the company donates additional product for an individual in need. Our company will use the above example as one of the strategies to enhance profits.
Assessing the location of millennial is key in developing a robust social selling platform. Millennial from different areas have different purchasing cultures; hence adverts should focus on satisfying the millennial purchasing behaviour. For example, Millennial in India are price-sensitive compared to their US counterparts. Therefore, the company will attain successful social selling on Indian pages by focusing on savings and offers but concentrate on features and products when selling on American pages.
Companies should enhance their reach to the Millennial using user-generated Content. Even though a brand might spend a great deal of capital in social media marketing, RIO usually fails to reflect the element. Studies have suggested that social media spending increased in 2019 compared to the other years. User-Generated Content entails activities such as sharing posts to the company’s brands, creating testimonies and sharing follower’s videos and stories. Posting UGC prompts a series of people to share information regarding the company, as followers appreciate the brand for featuring their social medial pages or accounts.
- How would the value chain of this sustainable brand differ from the value chain of
other fast fashion brands? (10 marks)
The value of sustainable fast fashion would incur more profits than that of other fast fashion brands since the latter one intents to improve the investors’ expectations and customer experiences. Our sustainable fashion business plans to integrate significant activities to understand the cost behaviour as well as the potential and existing differentiation sources.
Contrary to the other fashion businesses which use a business-centred approach, our sustainable company will take a consumer-centred approach to attract consumers. The business-centred approach attempts to persuade people to change or provide them with information and expects them to act instantly. In contrast, consumer-centred technique tries to understand why specific individuals behave in a certain way to provide them with the products that suit their interests. Sustainable social selling enables organizations to understand people hence provide a platform for accruing more sales as customers get affiliated with the brand.
Effective social selling will require the offering of convenience using social commerce. If users purchase a product out of an e-commerce website, they must pass through several processes and redirections before making the final purchasing step. The procedure can prompt users to abandon the shopping cart due to poor customer experience. Unlike the other fast fashion brands, the sustainable fashion brands limit their inconveniences by creating social platforms which boosts their engagements and deliver productive conversations. A high level of ease helps the company to engage its millennial audience since their ability to keep indulging with the app increases.
Unlike other company which target the entire population, my company will apply a more advanced targeting to the Millennial can improve social selling. Millennial whose age groups are between 18 to 34 has a range of interests. One campaign cannot cater for all the different age group ranges as just a five-year gap in age makes a huge difference in personality and interests. For example, someone who is 18 years may not afford luxury products, while one who is 26 may be financially independent. Women of 34-years old may not want to dress like those at the age of 18 due to changes in their interests and personalities while aging. Therefore, a sustainable fashion business must consider the differences that exist among the millennial to make appropriate sales.