“ Develop success from failures. Discouragement and failure are two of the surest stepping stones to success.” - Dale Carnegie
🤸 The strategy behind Lululemon’s success
One of the first things is to 1) follow your instincts.
Chip Wilson, the founder, attended a yoga class in 1997 and saw how quickly the class grew.
At the time, most people wore their worst clothes when exercising and Chip saw a gap.
The following year he opened the first shop in Vancouver and now the company rivals the big boys in terms of brand loyalty.
2) Have unwavering focus
They knew what to focus on - athleisure wear - and what worked for them. Up until very recently, the company had a very narrow product line.
Unlike many who follow the latest trends they have stuck to key core items that work well. The key lesson from this is to know when to say no (even to yourself!)
3) These products are also innovative as are their stores. They learnt that their customers wanted bras that felt non-restrictive and barely there.
They spent years developing a product that did just that.
Their flagship store in Chicago is spread over 2 floors and includes a yoga studio, meditation are, cafe and gym.
It can also hold community events.
And here is where it’s biggest strength is as far as strategy’s concerned.
4) It has a community based approach to marketing.
Unlike companies such as Nike who spend vast sums of money on adverts, sponsorship and big named stars, Lululemon takes a more individual approach.
It’s incredibly effective and keeps their costs in this area really low.
They have global and store ambassadors - over 1500 of them- who tend to be local yoga/gym/health influencers who genuinely love the brand. Joe Wicks is probably the most well known.
By using word of mouth, Lululemon doesn’t need the likes of Tiger Woods to get them heard.
They host meet ups in stores and in return get priority on products and access to ongoing support. It also creates a loyal customer and fan base.
How can you apply any of this to your business?
Consider the different aspects - the biggest for me is the community based approach to marketing.
What’s your strategy like right now?
Download my free 6 point guide to start making changes today.
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