Marketing in the News
Marketing In The News
While I was searching for an article, in the corner of my eye I see in big bold letters: "ASOS". I’ve purchased some clothes from this company before so instantly I was intrigued to see what this article had to say about this clothing brand. Asos hit tons of sales this past year that they claim to be "record results" and credit their marketing team. They certainly did an excellent job to get me to spend some money. Asos is an online fashion retailer that had its sales grow by 24% during the "first half of its financial year." They increased digital marketing spend to raise brand awareness and drive traffic to their website. The pandemic helped this company as well considering not many clothing stores were open during quarantine, people took to the internet to expand their closets. Over the same time frame, the platform's active user base increased by over 1.5 million people to 24.9 million! Many brands, like ASOS, are greatly benefiting from the "digital shift" of clothes shopping. ASOS's value proposition for its customers is having accessibility, customization, good price, cost savings, comfort, and brand/status. By providing exclusive fashion choices, the organization provides accessibility. This allows customers to purchase from brands that may not have physical stores or websites in their region.
During the unexpected pandemic, many businesses were frightened to see what the future help for them. As a result, ASOS started prioritizing its budget on “more efficient” digital and social channels. The organizations worked more on their marketing efforts which what made their business boom. Asos CEO Nick Beighton brings to attention that, "while Asos is mindful of the short-term uncertainty and potential economic impact of the continuing pandemic, the company remains confident in the momentum it has built. The business has raised its expectations for full-year performance in line with its first-half figures." In my opinion, ASOS's marketing approach was phenomenal. Going a more social media route, like tik tok, to bring more traffic to their website is exactly something I would've done. Considering both tik tok launches went incredibly successful for ASOS is not a surprise. Tik Tok puts all kinds of content on the "for you page" not focusing on how much of a following you have, giving more average people, and smaller companies, and huge opportunities for growth. If I were ASOS's product manager, I would hire more designers to add something new to the retail shop more frequently bringing more customers. Every time something new gets added it creates so much more opportunity to get more sales. I would also focus more on separating myself more from the completion. I would try to provide faster results, easier procedures, personal attention, or a better guarantee. I would also determine the distinct benefit I provide to customers that my competitors do not. As a result, I would advertise that benefit in all of my campaigns. Providing my prospects with a justification to do business with me rather than my competitors.
Something that I've come to realize in reading this article is how everything is moving into the digital world. I don't think people 50 years ago would've ever thought they could buy themselves a whole new wardrobe without even having to get out of bed. This assignment also helped me better understand the importance of how good marketing can change a whole company.
article: https://www.marketingweek.com/asos-marketing-sales/
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