In this blog post, I will focus on why is Victoria’s Secret company failing and what improvements the company should do in order to keep its name in the game.
It is quite known that Victoria’s Secret is not doing so well. Their sales are down, and shares have dropped more than 40 percent in 2019 (according to Financial Times). In 2019 Victoria’s Secret fashion show has been canceled. The cancellation of the show wasn’t entirely surprising, as Victoria’s Secret has repeatedly come under fire for its lack of diversity on the runway. In 2018 the chief marketing officer Ed Razek informed that the company’s annual show should not include people with different body types. According to him, the Fashion Show is just a fantasy show, nothing real. Shortly after the news broke that the fashion show broadcast was canceled, it was announced that CMO Ed Razek was retiring. Apparently, Rezek’s strategy hasn’t worked out as he imagined.
What is the key strategy?
Their secret weapon is their own social media platforms. Victoria’s Secret is the second most followed brands on social media networks and their Instagram account has around 69 million followers. However, VS’s Instagram account is now consisting of content mostly promoting products. You will find no special engagement with the audience whatsoever. Example of their Instagram page below.
Having so many followers on Instagram is the key that the VS marketing department should hold on to and make the best use out of it. It gives the ability to the company to create extensive marketing content that will engage the costumers and will help to create a relationship with them.
“Social media marketing is an important category of digital marketing that involves encouraging customer communications on a company’s own site, or social presence.”
(Chaffey D., Hemphill T., Edmundson-Bird D. 2019)
Victoria’s Secret is facing fierce industry competition from brands like Savage X Fenty, ThirdLove, and American Eagle’s Aerie. Competition’s brands are focusing more on promoting diversity than products. If you look below at Third Love Instagram platforms you will find strategic content that involves a focus on its customers. The company builds a community with the audience and promotes diversity and empowering women.
The difference between the Victoria’s Secret and Third Love social platforms is quite visible. VS simply drives its marketing strategy on promotion products only. On the other hand, Third Love is keener to drive their interest in its customers rather than focus on increasing sales and promoting its products.
Valuable options
Victoria’s Secret must face a serious bottom line. Decision-makers need to commit to public-facing brand overhaul in order to be able to compete with the competitor and build an active and engaging platforms for the audience.
Here are some options to create engaging content with the audience. Let’s break down a few options that Victoria’s Secret should consider and implement to their marketing strategy.
1. Content marketing
Firstly, Victoria’s Secret needs to redefine its content marketing strategy on Instagram. New defined marketing campaigns need to be aimed at the audience not on sales.
In order to keep up with the competition, VS needs to implement more diversity. In the past, Victoria’s Secret has launched a campaign in collaboration with plus-size models. However, they need to do more in order to keep up with, for example, the competitors Rihanna’s Savage X Fenty company, where their MAIN focus is on diversity, as you can see from the picture below.
2. Posting video content
Video marketing is the most dominant and effective form of marketing. According to the Aberdeen Group, a market intelligence firm, video marketers get 66 percent more qualified leads each year as well as have a 54 percent increase in brand awareness.
Use of various video content for example:
- Vlogs
- Video interviews
- Tutorials
- Video presentations
For instance, Victoria’s Secret is also producing beauty products in which they could create engaging tutorials on how to apply their products. As an example the video below where company H&M posts video of a skin-care routine using their products.
3. Live streaming
As I mentioned above, in addition to making a video, Instagram gives the option of live video streaming. Live streaming has become a crucial component across Instagram. According to AdEspresso.com, “live video is more appealing to brand audiences: 80% would rather watch live video from a brand than read a blog, and 82% prefer live video from a brand to social posts.”
Examples of live streaming video content:
- Introducing a new product
- Interviews with influencers
- Giving a tour behind the scene
- Hosting a debate
- Q&A Session
- Tutorials
Victoria’s Secret needs to implement engaging live streaming video for its audience as they have not done in the past before.
The picture on the left presents how company Sephora introduces new arrivals through their live channel. The picture on the right where the company Lululemon invites the audience for Live streaming yoga sessions on its Instagram page.
Sephora Instagram page 
For additional steps, click here https://glossyfactory.data.blog/2020/04/10/additional-steps-to-create-successful-social-media-platform/
CONCLUSION
Victoria’s Secret fell asleep behind the wheel with their social media platforms. . Instagram is a place where a company can show the human side of their own brand and build up connection with the audience on a whole new level. It is crucial that Victoria’s Secret will start creating engaging content with the audience as their current marketing strategy clearly isn’t working. VS should forget their strategy that is keen on top models only and implement focus on diversity and women’s empowerment. Victoria’s Secret has an extensive advantage of how many followers does its Instagram account has and it’s time to start engaging its audience for greater benefit.
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