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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