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.
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 .
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.