To say True Faith, as soon as a image of luxurious within the early 2000s, has had its ups and downs lately could be an understatement.
It confronted a steep decline as client tastes and types shifted and filed for chapter in 2017. Regardless of securing funding to proceed operations, the model filed for chapter once more in 2020 as a result of struggles in shops and the impression of the pandemic.
Final January, True Faith, owned by Farmstead Capital Administration, was put up on the market, concentrating on personal fairness corporations and publicly traded attire firms and was acquired by TowerBrook Capital Companions.
Aiming to double its gross sales by 2027, the model is diversifying its choices, together with activewear, varsity jackets, and even a pet line, whereas sharpening its advertising efforts and utilizing knowledge to do it.
Full-Funnel Advertising
In an interview with PYMNTS, CMO Kristen D’Arcy mentioned the firm is targeted on utilizing knowledge and full-funnel advertising methods to drive buyer loyalty and gross sales, notably throughout high-impact instances like the vacation season. Now, it’s all about standing out and model differentiation via product and advertising.
“The important thing basic is that you have to know your buyer,” D’Arcy informed PYMNTS in an interview.
Full-funnel advertising, in accordance to D’Arcy, includes every little thing from the artistic components of a marketing campaign to strategic media investments.
“No matter what new social media platform comes out or goes away tomorrow, if you already know the place your buyer is spending their time, then that’s the proper platform to check, study and probably scale,” she defined.
In a current vacation marketing campaign, “The place Vacation Needs Come True,” True Faith used knowledge to optimize the shopper journey throughout a number of levels, D’Arcy mentioned.
“We develop content material that’s native to every channel, after which reply to shoppers relying on the place they’re of their buy journeys,” she mentioned. “For example, we all know that denim is the gateway product for a lot of consumers. For these shoppers who turn into our best clients, we additionally know what their seemingly second buy can be. We use these insights to develop prime buyer lookalikes to create extra prime clients and, in the end, to extend our LTV.”
Product Differentiation
On the subject of standing out in a crowded advertising surroundings, D’Arcy confused product differentiation and a constant model message throughout digital and bodily infrastructure.
“No. 1, our product stands out in a crowded market, so we have now the posh of promoting an unimaginable and really identifiable product,” she acknowledged. “We then attempt to encompass the buyer with a single message, it doesn’t matter what platform they’re partaking with, in order that we’re delivering a seamless and constant client expertise. The content material might change, however the messaging doesn’t. In doing so, that consistency breaks via with shoppers driving consideration, visitors and in the end, gross sales.”
Delivering a constant message throughout all platforms aligns with the pattern of omnichannel procuring experiences. In accordance with PYMNTS Intelligence’s “The 2024 World Digital Procuring Index,” a survey of almost 14,000 shoppers throughout seven nations about their omnichannel shopping for behaviors and preferences, 4 in 10 shoppers are actually Click on-and-Mortar™ consumers, preferring buying journeys that mix the digital and the bodily over pure-play brick-and-mortar or eCommerce.
D’Arcy added: “No. 2, we choose expertise who usually are not solely authentically proper for the model however who even have a real love for the product. Everybody we use in our campaigns — from Megan Thee Stallion to Jayda Cheaves and Quavo — have worn True Faith earlier than working instantly with us. The expertise we choose and the partnerships we interact in reside on the intersection of sports activities, music and tradition as a result of we all know that these are the issues our clients are most captivated with. It’s a mix of all these components which have helped us authentically stand out and drive gross sales.”
Constructing Lengthy-Time period Loyalty
Constructing long-term loyalty via personalization is one other space of significance for True Faith, D’Arcy mentioned.
“Now we have a great understanding of what our clients are shopping for in addition to when and the place they’re buying it,” she mentioned.
The model makes use of its loyalty program, True Rewards, to not solely reward purchases but additionally nontransactional actions like social engagement or referring pals. By way of lifecycle advertising, True Faith nurtures buyer relationships via customized content material and focused campaigns.
“True Rewards is all in regards to the total expertise you have got with the model and the time you spend with us, not solely because of a purchase order,” D’Arcy mentioned. “We even give our very prime loyalty members entry to extremely covetable experiences — like personal live shows, or VIP meet and greets — that additionally sit the place the model does on the intersection of sports activities, music and tradition.”
As advertising know-how evolves, D’Arcy mentioned synthetic intelligence (AI), omnichannel methods and personalization at scale are important instruments for enhancing buyer loyalty.
“We’re utilizing AI to optimize our tactical plans,” she mentioned, “and taking an omnichannel view of the buyer in order that we are able to personalize our communications to them. We proceed to iterate on all the information that we obtain from our most loyal clients to know how our clients behave. Most significantly, we really take heed to what they’re telling us.”
