Strategy for Lululemon

1) Online market expansion

1. Social Media strategy

As per the numbers stated above from the respective platforms, Facebook is one platform where Lululemon must focus on developing an effective social media strategy in as there exist a major gap of almost seven million in numbers followed by Instagram and twitter.

With Facebook, they should start by putting up a good introduction in their home page and responding to at least 80% of the comments with an open conversation approach. This approach will also create a sense of belonging within the customers as they will be able to provide their opinions. Promotional posts have to be inculcated with in the news feed section of the potential customers in order to encourage them to drop by and visit the official website which might pave way for purchases. On an emotional level, running promotions that will stand by a cause like Domestic Violence Awareness to stop the violence will boost he the overall credibility and make its presence notable. Short workout or stretching videos that can be incorporated in the daily life of customers is a good way to boost up the traffic and can be posted every week.

When it comes to Twitter, promotions should be based on the brand itself more than the community values. Posting 20-30% flash sales with a limited time frame help promote the traffic in Instagram. Also, introduction of memes will help Lululemon spread the word around easily and their reach tend to be significantly higher. The existing pictures should be diversified by inculcating various age categories. In the hashtags area, the company should focus to hashtag themselves more rather than having a penchant for the healthy life hashtags.

For Instagram, exclusive experiences like deals and giveaways must be adopted on a greater magnitude to make the potential customers shuffle between different platforms of Lululemon. Various yoga challenges can be posted at different time frames that challenges the existing customers and also lead to the generation of a new customer base. In addition, a healthy interaction with competitors in the market will support their underlying strategy of grass root or guerilla marketing technique.

Sources- https://storify.com/SydneeWalder/lululemon-social-media-audit

                https://www.facebook.com

                https://www.instagram.com

                https://twitter.com

1. Up-selling of products

Up-selling deals with forcing the customers to settle for higher end products by showcasing the different characteristics that overshadow the previous one in a hierarchical order to boost the sales margin by maximum possible value. It is a general tendency of any customer to always have that feel of acquiring a thing that has maximum features. As per the article from Econsultancy, up-selling is twenty times impactful when compared with the concept of cross-selling. Sometimes, it is satisfying the actual need of a customer and sometimes it’s actually a manipulation of inculcating false belief in a customer that leverages on the individual’s greediness if any exists.

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source- https://econsultancy.com/blog/8632-up-selling-is-20-times-more-effective-than-cross-selling-online

1. Reduction in abandoned carts and improving product reviews

It is estimated from the research conducted at Baymard Institute that, two thirds of the actual sales are disrupted as a result of the hesitation factor possessed by potential clients and these losses are not sufficiently backed by a recovery email. A recovery email may also include some limited time discount packages which will encourage the customers to finish the order. The exact percentage of loss detected from the research was around 67.45%.