Business and Digital Marketing

A majority of Singaporean companies are unable to truly understand the dynamism of the internet upon the daily lives of its consumers. The gap gradually widens as the net is used to get information and products in a more efficient manner. They’re not able to capitalize on this trend to expand their communication reach and maintain a lasting competitive advantage.

There are numerous examples where big businesses used marketing through digital media and became successful because of this. Taking Ikoni as an example, we see how a great old-fashioned grocery chain remodeled its whole future via digital marketing. By tapping on a digital media platform, they are able to supply round the clock services and expand past their physical shop venues.

Prior to end 2014, Ikoni’s nationwide reach and limited competition meant they had a stronghold in the Consumer Goods business. Then, in a turn of events, Ikoni faced unprecedented obstacles that threatened its existence in the market.

The previous CEO, unable to capture the Asian and Middle Eastern markets effectively, was told to leave and a new one arrived. With the employing of any top executive, many corporate practices and processes needed revising. This transformation was extremely expensive, and greatly influenced Ikoni’s cash position, putting the business in a volatile situation.

An added obstacle is the understanding that local out-of-town malls were shedding their popularity. The biggest challenge stems from the rise of adversaries Hurbdly and Goldled. These two rivals adopted technology to a terrific extent. They effectively took control of a distinct audience thus gaining a foothold in the marketplace. The two were successful in catching the two ends of the market: the value-aware and the premium-seekers.

There was also a remarkable shift in consumer attitudes, where price preceded brand faithfulness. This extreme change damage Ikoni’s publications, which unquestionably created a furor amongst its investors as they observed the valuation of their investments evaporate. With a substantial fall in earnings, the leading investors jointly lost close to half a billion of their capital in end 2014 – visualize the degree of explosive exchanges in the corporate boardroom!

Prior to the enactment of a digital marketing plan, Ikoni’s online reach was restricted to a fundamental ecommerce site.Despite the fact that this met its fundamental function, the company was in terrible need of a more productive strategy in digital marketing. Because of the technologically savvy CEO, a strategy was set into motion to optimize Ikoni’s untapped on-line potential.

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Past a certain point, they decided the one and only solution was to employ a professional digital marketing agency equipped to tend to all their on-line efforts. After assessing a number of potential partners, they eventually came to a final decision. They chose a digital agency that was able to broadcast the Ikoni message through various digital channels.

Encouragements to the online grocery store meant the demand to increase their on-line traffic. Although traditional advertising options continue to be actively employed, its practicality is regularly challenged by lower cost choices that leverage on digital media. Content marketing decidedly was the most cost effective weapon amongst the digital marketer’s bag of tricks.

By fiddling with their online store design like adding a Recipe button, Ikoni got to direct users to a microsite named “Ikoni Real Food”. This became a microsite created to host and provide wellness-oriented content, including recipes and inspirational posts to encourage appropriate eating and diets.

The website grew to be an independent way to obtain beneficial advice for its visitors, demonstrating a change in Ikoni’s web design emphasis. As it’s connected to Ikoni as a brand, it helps enhance faith in the brand while quietly persuading folks to shop more at their online grocery store. Individuals are less likely to check out competing online shops when Ikoni’s is just a click away from Real Food.

Apart from the microsite, Ikoni implemented another key element within its internet marketing plan: advertising through social media. They didn’t need an independent social media agency as they had sufficient manpower to take care of the first campaign on their own. To kickstart the effort they signed up for their own accounts on sites that include Instagram and Twitter.

Internal management of these social media channels allowed Ikoni to create and broadcast advertising messages in a rapid and direct style. This spectacular speed to market meant that shoppers were constantly exposed to the latest offerings from Ikoni.

Most importantly, the priority is for Ikoni to maintain total control over the messages being sent out over the internet. There’s very little hurdle – and too much vested interest – for any person evil enough to sign up for bogus accounts to attack the supermarket giant. Through internal supervision and control of their social media accounts, Ikoni is able to correctly represent themselves and prevent bogus claims on their page.

After-sales support is the backbone of developing prolonged connections with customers. The way that a customer views a business is greatly dependent on how the latter renders support to the former. In this aspect, it can be said that Ikoni is exemplary.

To illustrate this, Ikoni set up a social media account just to manage customer complaints completely. This helped to ensure that customers have a suitable channel to direct their comments, while other users can shop easily without being encumbered by insignificant messages.

Basically, direct and personalized responses to questions make customers feel really looked after. This begins by nurturing a team that connects with customers on a personable level, answering their questions and resolving issues in a warm and friendly way. This will, certainly, bring the users closer and entice them to spend more in the future.

Ikoni is currently reaping the benefits of an extremely successful strategy in digital marketing by controlling the largest section of the grocery store market business. Based on several sources, Ikoni has control over almost a third of the marketplace as of last July. This is almost double the share of the second biggest grocery store business that now controls less than a fifth.

These benefits definitely inspired Ikoni to plan for their future success by fine tuning their digital marketing plan. Ikoni’s investment in technology such as the introduction of a new mobile program is only going to increase the avenues to which consumers can get in touch with Ikoni.

You will find lots of lessons in Ikoni’s instance. Firstly, the digital age greatly affects all organizations, regardless of how established they might be. Thanks to the mass adoption of digital marketing in Singapore, new businesses that happen to be well informed in these aspects can suddenly grab away a share of the market from the well established companies.

It has become unceasingly clear that creating an online presence through digital media is an absolute must in Singaporean company tactics. Should you make the unpardonable error of leaving it out, your adversaries will certainly gain that unfair edge over you.

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Coupling a Quality Website and Social Media

Singaporean businesses are most likely oblivious to their customers’ daily reliance on the internet. Because of the fact that the net allows users to obtain products and services in a significantly more straightforward fashion, these businesses often lose out in the long term. They may be struggling to exploit this trend to lengthen their marketing reach and preserve a sustainable competitive advantage.

Cases of businesses tapping on on digital media and doing well are aplenty. Using Egria as an example, it demonstrates how a traditional retail chain goliath can effectively turn its losses into gains using internet marketing. With the assistance of digital media, Egria is able to go against the odds and expand its share of the market beyond traditional means.

Egria was a crucial player in the retail and Fast Moving Consumer Goods (FMCG) industry; this marketplace dominance allowed Egria to be lucrative. The franchise was situated in almost every township with the competitors being limited to mostly mom and pop establishments. Yet, in 2015, Egria was in significant trouble.

The first obstacle occurred as a result of the substantial expenditures brought on by the new Chief Executive’s restructuring program. The previous CEO, failing to get a hold of the international marketplaces efficiently, was replaced by the new one.

An added barrier is the perception that local out-of-town shopping malls were shedding their popularity. Though a decrease in visitor traffic would definitely trouble the supermarket chain, it was Snaresh and CNBK that became its biggest nightmare. These two challengers embraced technology to a terrific extent. They competed head on with Egria by focusing on segments of the market that Egria had ignored using a wide range of impressive digital marketing approaches. Individuals who are on a budget head to the German discounters Snaresh while individuals who prefer premium quality brands proceeded to CNBK.

During this time, Egria’s standing as a household name was one of its strong suits. But the name recognition can just stave off failure, and it did’t save them from losing customer loyalty. By year 2015, Egria’s profits had fallen by 10% and their high-profile investors publicly declared that their considerable investment in the supermarket chain was a “huge error” which resulted in them over $465m in a year’s time.

Utilizing Digital Media to its greatest extent

The newly hired CEO highly recommended the use of technology hence encouraged hiring staff to increase their web presence.The strong competition faced by Egria meant that hinging entirely on its online store would simply not be enough.

The first thing that Egria did was to grow an in-house digital marketing team; via this, Egria desired to develop and create a strong center of tech online marketing experts. They looked to harvest the capabilities of these budding entrepreneurs as a substitute to a digital marketing agency.

Egria had to improve sales on its online store. The potency of old fashioned marketing methods aren’t being called into question. It is rather the digital option comes with a lower cost – making it much more enticing and budget friendly. Depending upon a proven instrument, Egria’s marketing team chosen to employ the lucrative strategy known as marketing through branded content.

Content marketing, in the context of Egria’s online store, was the creation of a mini site titled “Egria Real Food” that consumers could navigate to from the online store. The unique microsite advertised healthy eating and positive values to Egria customers.

The microsite attests that by engaging in proper the design and development of a website, they may be able to be a genuine asset to shoppers. Due to the fact that it is linked to Egria as a brand, it helps enhance customer loyalty while quietly convincing users to shop more at their online supermarket. This too assists with psychoing online shoppers subconsciously and directing them to buy more at Egria’s online shop.

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With social networking being so popular and widely-employed by the masses, Egria acknowledged the demand to leverage on this channel to enhance its coverage in the industry. So besides the use of content marketing, Egria used social media marketing into the mix which comprised platforms such as Facebook, Twitter, Pinterest, and Google which were managed by their in house team.

Direct management of these social media accounts brought Egria the capability to broadcast their marketing campaigns and promotions as and when they were finalized. It also meant that consumers received up to date and important information directly from Egria.

Next, it enables them to carry on fine tuning their online brand image. A dilemma arises when a customer or even a competition confirms an unofficial social media existence under their name. As the content wasn’t official nor verified at the source, Egria would need to be constantly prepared for damage control whenever attacks on its brand happened. That being said, an internal social media department would forbid such undesirable events. Egria will never have to deal with this difficulty as all official brand info is only going to come through online channels they control.

Providing Excellent Customer Service On the Web

Whilst sales amounts are the chief driving force behind a company like Egria, another vital but understated brand enriching component is after sales service. Resolving customer problems and preserving relationships are crucial to maintaining a loyal consumer base. Here’s where Egria truly glows.

To illustrate this, Egria created a social networking profile just to manage customer complaints alone. This allowed unhappy patrons to communicate directly with their feedback without affecting the promotional updates from Egria to others.

Specific training is provided towards the Egria Customer Support department over the best means to relate with consumers. A jovial and down to earth method is encouraged while being helpful and solving issues quickly. A natural and pleasant strategy develops connections and trust, hugely different from the robotic answers of an automated responder.

A clear and concise digital marketing strategy on Egria’s part brought about tangible results: consolidated information from various sources pointed to Egria securing almost a third of the market share, whereas the closest challenger held on to a fraction of that. The unprecedented shift in market share was surely something to boast about to shareholders.

Egria’s future is definitely bright and it’s sure to get even brighter as they attempt to enhance their marketing strategy. Investments that were made in technology are sure to be worthwhile as their tech folks are said to be hard at work on developing a series of Egria cellular apps. These programs will surely help them achieve an even wider audience outside of traditional website design and development .

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An example can made of Egria. To start with, businesses cannot adopt a “business-as-usual” prognosis and expect that previous success and practices would continue to get them by. Digital marketing and social marketing must be incorporated into their plans for them to compete in Singapore’s business landscape.

It’s become undeniably apparent that creating an internet presence through digital media is a no-brainer in Singaporean business approaches. Failure to factor this wihtin your company is equivalent to granting the competition the green light to stay ahead of you.

The Many Benefits of Digital Marketing

Lots of unsuspecting companies have been confronted by the problem of the net’s influence upon the general public. They did not have digital media in their overall plan and had trouble leveling the playing field with companies that were a lot more able in this particular aspect.They may be facing the grave scenario of revising their marketing approaches to compete with more digitally inclined businesses.

Examples of businesses leveraging on digital marketing and doing well are in abundance. Using Harrys as an example, it demonstrates how a conventional retail chain goliath can effectively turn its losses into gains using online marketing. Harrys became able to serve its customer base beyond the limitations of its retail stores.

Harrys was a giant in the retail and Consumer Goods industry; this marketplace dominance allowed Harrys to be lucrative. The franchise was to be found in nearly every town with the competitors being largely mom and pop establishments. Despite such dominance, in 2010, Harrys was struggling with enormous difficulties.

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Harrys’s Obstacles

The first difficulty faced is the inordinate fees of restructuring stemmed from the hiring of a new CEO. The previous CEO, failing to capture the international markets efficiently, was replaced by the new one.

Furthermore, competition was very stiff in their business. Any opportunity that emerged in the market was swiftly capitalized upon by one of the companies. It reached to an extent that these shops were popping up at every corner.

Harrys’s advantages during that stage consist of physical presence and brand equity. But the name recognition can just prevent failure, and it did’t save them from losing customer faithfulness. By the year 2010, Harrys’s net gains had dropped by 10% and their largest shareholders openly confessed that their substantial investment in the corporation was a “huge mistake” which set them back almost half a billion dollars within 12 months.

How a Digital Marketing Campaign Saved the Harrys Empire

Prior to the execution of a digital marketing campaign, Harrys’s online reach was limited to a basic e-commerce site. It was fully working and operational, but the changing competitive landscape meant that radical changes to it was demanded; the newly appointed Chief Executive Officer, who was a strong promoter of technology, was made exactly for this job – to renew and rejuvenate Harrys’s online presence.

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Past a specific point, they decided that the only way out was to employ a professional marketing agency with digital capabilities prepared to handle all their web based initiatives. A careful selection was done from the choices available. The chosen agency had the capabilities to support all of Harrys’s requirements.

Reaching out to audiences subtly through Branded Content

Online marketing methods were discovered to be more advantageous as time went by as a result of its efficiency and low cost, hence budgets began being redirected there from the traditional advertising resources. Boosting the sales volume of the ecommerce website was the primary target at hand. With this strategy, Harrys hoped to drive more traffic to its shop, so raising its revenue and profitability.

Within Harrys’s online store, there’s a “Recipes” item in the main menu which takes visitors to “Harrys Recommendations”. Food-related information such recipes, articles, life inspiring stories and well-being trivia were discussed freely with this website.

The informative microsite proves that the new Harrys approach places an emphasis on quality website design and development because it by alone can exist as a valuable online resource for folks shopping around for food. Furthermore, this site is closely integrated with Harrys’s primary e-commerce store, which strengthens the association between it and the brand. Users are likelier to see the connected site as opposed to steering to another on-line retailer during their time on Harrys Recommendations.

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Using Social Media to its Fullest Extent

Social media marketing was another vital tactical element within the campaign in internet marketing that was carried out by Harrys. Due to sheer scale of the firm, Harrys was able to have an internal team to run this element of the campaign directly, circumventing the need for an external social media agency. It commenced this plan with the essential but critical job of creating their own official social media accounts.

Being in full control of their social media accounts allows Harrys to provide prompt news of its offerings. It also meant that customers obtained up to date and pertinent information directly from Harrys.

More significantly, Harrys kept complete control over their online brand image. Any person could sign up for a bogus account and get started with malicious assaults on Harrys by supplying deceptive information to innocent users who followed the fake page. Through internal oversight and management of their social media accounts, Harrys has the ability to accurately represent themselves and avoid illegitimate claims on their page.

An absolute emphasis on web based customer support

Support services does play probably the most vital function in increasing customer trust in the brand. The way that a customer sees a company is greatly determined by how the latter leaves support to the former. Harrys supplies a great template for others to follow.

A specialized Twitter profile is committed to connecting directly with customers while a separate profile is utilized for marketing efforts. What this means is the customer attention account isn’t littered with sales pitches or unrelated dialogs. If customers need to talk with support, they know where to go and what to anticipate.

A key priority would be to make sure that the customer feels valued. This is established by dedicating “real” people to respond to their issues in contrast to hollow scripted answers. This is a powerful way to cultivate loyalty to the brand and encourage repeat purchases.

Did it Produce Results?

Souces showed that Harrys’s nicely executed strategy in digital marketing paid off hugely. Harrys commanded nearly a third of the market share while their closest challenger only managed to keep half of that. This clear shift in the business direction was warmly welcomed by the management, the board and investors alike.

Harrys’s future is definitely bright and it’s bound to get even more glowing as they seek to expand their strategy in online marketing. The internal development team are constantly pushing out cellular programs which will expand Harrys’s reach to more people. These programs will most certainly help them achieve an even broader audience outside of normal design and development of a website .

We are able to learn commonly from Harrys. It truly is no longer a given to rely purely on branding and retail to achieve success. Without a doubt, any company that seeks to remain competitive in the digital age requires a superior digital strategy.

To put it simply: if an industry leader for example Harrys can be so badly affected by the absence of an effective online presence, visualize the detrimental effects it will have on a smaller company. To remain competitive, businesses need digital media to merely survive in the cutthroat businesses that they are managing in.