To adopt digital media for your business, or not?

A large number of companies weren’t prepared when the World wide web became available and embraced by the people so fast. They didn’t have digital media in their marketing strategies and had a tough time keeping up with businesses that were significantly more able in this particular aspect.They are presented with the desperate situation of revising their marketing strategies to contend with more digitally inclined companies. Instances of companies tapping on on digital marketing and succeeding are in abundance. A case in point can be taken from traditional supermarket chain Catalyst that transformed their dismal losses into profits by using digital marketing. By having a digital media platform, Catalyst has stopped being bound by physical constraints and can efficiently widen and serve its customer base 24 hours a day, 7 days a week.

Well before the start of 2009, Catalyst’s leading standing in the Fast Moving Consumer Goods (FMCG) business – cemented by its substantial retail reach nationwide and small rivalry – helped the company remain highly profitable. Nonetheless, because of unforeseen circumstances, Catalyst lost their edge within the market and this left them vulnerable. The initial problem faced is the inordinate costs of restructuring because of the appointing of a new CEO. This was the outcome of an unsuccessful attempt to grow European and Asian market share.

Additionally, the matter was made worse by new marketplace competitions Portixol and Vigite. They discovered a gap in Catalyst’s industry reach and made an effort to take advantage of the spots that were exposed to market penetration. The fight wasn’t limited to just the physical space – newer and smaller retailers, who knew they could not compete head on with the big boys, used online marketing so as to get a part of the business. Catalyst endured a major blow from this shift in the competitive landscape. Such a development created tension amongst Catalyst’s investors when their fiscal stronghold started going down hill. Certainly, the large decrease in earnings triggered investors to take notice.

Making use of Digital Media to its fullest
The new Chief Executive Officer believed steadfastly in utilizing technology to transform a business; that was the main reason why he was hired.The strong competition that Catalyst dealt with meant that depending solely on its online store would definitely not do. The new Chief Executive started the rejuvenation procedure by creating an inhouse online marketing division. The key aim of Catalyst’s CEO was to create a digital marketing message that was strong and unified. Nonetheless, an internal team was not able to attain optimum outcomes spontaneously. It came to the decision that employing a digital marketing agency was vital in keeping up its online campaign.

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Generating Traffic And Attracting New Customers Via Content Marketing
Reinforcements to the on-line grocery store meant the need to increase their online traffic. Although traditional marketing options continue to be actively employed, its practicality is often challenged by lower price choices that tap on digital media. Content marketing decidedly was the most cost-effective tool amongst the digital marketer’s arsenal.

Catalyst kickstarted content marketing by launching a microsite dubbed “Catalystic Food” as an expansion of their estore. This microsite was dedicated completely to helping consumers eat and live more healthily.

With the arrival of this microsite, Catalyst is efficiently placing it as an educational portal without the hard sell to see its online store. Furthermore, it acts as a gateway to Catalyst’s e commerce store. By executing a superb user journey during website design and development, Catalyst managed to associate its merchandise with health and fitness friendly buying habits. When the design and development of a website is performed correctly, it makes it really convenient for online shoppers to get to where they need, fast. This strategy gives them convenience, so they are less inclined to patronize other online retailers when Catalyst is so easily accessible.

As a result of social media being so popular and widely-used by everyone, Catalyst acknowledged the need to leverage on this channel to improve its reach in the industry. So aside from the use of branded content, Catalyst implemented social media marketing into the mix which included networks such as Facebook and Twitter which were handled by their in house team.

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There were two significant reasons to moderate their own social networking accounts. First off, it’s an easily managed stream of generic information and promotional material for their customers. A purpose-built Twitter handle was even initiated for every single division. Moreover, unique profiles had been set up for a number of subdivisions for example latest offers, bottled refreshments, wines et cetera.

Next, it allows them more control over their brand and picture online. It’s all too common for numerous companies to lose on this earth because a random customer (or worse, a rival) established a social media presence inside their name. As the content was not official nor confirmed at the source, Catalyst would need to be always prepared for damage control whenever attacks on its brand happened. An internal social media team wouldn’t permit such actions to occur under their watch. With advice flowing directly from the official source, Catalyst will not need to worry about what is being spread online.

Customers and sales are definitely the backbone of any business. The value of after-sales service is frequently disregarded in its ability to fortifying brand loyalty. Resolving customer issues is pivotal in ensuring future sales, as wide-ranging studies have proven. This is where Catalyst truly shines.

A specialized Twitter profile is devoted to interacting directly with customers while a different profile is utilized for marketing efforts. This helps to ensure that customer engagement and promotional communication are kept separate, such that each profile can do what it has been designated to do. Regardless of the company, its customers would undoubtedly prefer to talk to real person, than to navigate through a maze of automated answers only to have their difficulties unsolved. This will, undoubtedly, bring the shoppers closer and entice them to spend more money down the road.

How it Turned Out
The CEO’s efforts paid off; based on various sources, Catalyst has secured a market share of approximately 26.2%, almost 11 percentage points ahead of the next closest opponent. It was definitely something that the management team could shout about to the board and its shareholders. Thanks to this cutting edge digital marketing strategy in place, Catalyst’s popularity and market value has increased exponentially. They are in position to take full advantage of their exploits into the digital world – purportedly introducing a Catalyst mobile application in the near future. This is a lot more than what traditional website design and development can look to reach.

Catalyst’s case brings about many lessons. To begin with, it is not possible to be entirely reassured of your standing in a industry, particularly in the digital age. As a result of the mass adoption of digital media, newly set up companies that happen to be savvy in these areas can unexpectedly snatch away market share from the well established companies.

If the deficiency of an internet presence can have such adverse effects on a large, well-known firm like Catalyst, envision the repercussions it would have on companies of a smaller size. Digital media is no longer a crutch as it may have been in yesteryears – it is an important approach towards business growth and success.

How Can Digital Marketing Be Applied in Singapore?

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Within the tiny red dot known as Singapore, most firms failed to recognize the deep impact the online world has on the people. Because of the fact the web allows consumers to purchase products and services in a much simpler manner, these firms have a tendency to get left behind in the long term. They were unable to utilize this new medium to expand their business.

Conversely, certain companies that decided to engage in digital marketing stood to receive superior results. These companies witnessed a growth in customers and a more active database. Obviously, internet marketing is a strong and reliable company tool. As of now, there 15were numerous cases where firms propelled themselves out of difficult times with this weapon. Supremal is, without a doubt, the perfect example. Just before the end of 2014, Supremal – with its multiple stores and low competitive danger – was a marketplace leader in the Fast Moving Consumer Goods business. This didn’t last long though, for without warning, it suddenly found itself under intense, unexpected pressure to stay competitive.

Supremal’s Obstacles
First dilemmas arose with a costly company restructuring plan that was kickstarted by a just hired Chief Executive Officer. The previous CEO, unable to capture the international marketplaces effectively, was replaced by the new one.

Moreover, the problem was made worse by new market competitions Finetric and Lyof. They absolutely identified a space in Supremal’s industry coverage and served to use the spots that were exposed to penetration. Although they knew that they could never compete based on physical scale, they were able to level the playing field by using digital marketing against the established companies.

In the meantime, there was a noticeable evolution in purchasing behaviour that resulted in customers embracing the relevance of price over loyalty to the brand. This particular development caused anxiety amongst Supremal’s investors when their fiscal stronghold started going down hill. Undoubtedly, the considerable decrease in profits caused shareholders to take notice.

In order to successfully recoup Supremal’s online ranking, the freshly appointed CEO – a supporter of technological progress – decided to set up an inhouse online marketing department. Even though Supremal’s web store at that time was working perfect, the changing times required a completely new way of managing this online presence.

The recently appointed CEO started the rejuvenation procedure by creating an inhouse digital marketing department. The primary goal of Supremal’s CEO was to create a digital marketing message that was powerful and unified. Even so, keeping to the main plan had restrictions for the in-house team. It reached the decision that engaging a digital marketing agency was key in sustaining its on-line effort.

Digital marketing techniques were discovered to be more favorable as time went by because of its performance and affordability, hence funds began being redirected there from the conventional advertising resources. A priority at hand was to improve profits from their online retail outlet. This was attained through the use of content marketing to increase on-line traffic and involvement thus raising sales figures.

By altering their online store format such as introducing a Eat button, Supremal managed to redirect users to a special website dubbed Supremal Eats. This became a microsite designed to host and provide health-oriented content, such as recipes and motivational posts to support appropriate eating and diets.

In essence, Supremal uses the microsite to strategically and casually spread relevant information to would-be customers. Having said that, additionally it is really easy for users to connect to the online store, as links to it are abound. By not having any advertisments on the microsite, it can help to send a message that Supremal really wants its patrons to adopt a healthy lifestyle. The principal idea behind this plan incline upon typical consumer behavior that revolves around instant gratification. Supremal’s strategy offers easy convenience, minimizing the risk of users being drawn away by other on-line grocery stores.

Tapping on on Social Media

Another strategy that Supremal utilized in their digital marketing campaign was social media marketing. There wasn’t a requirement for an external social media agency as they’d ample staff to take care of the first campaign on their own. It kickstarted this strategy with the simple but vital job of creating their very own social media accounts.

Creating their own official accounts at these social networking sites has two obvious advantages. To start, it’s an easily controlled feed of generic information and marketing related material for their shoppers. A purpose-built Twitter account was even created for every single division. They’ve accounts for promotions, for actual foods, for wines, and so on.

Next, they’re able to better influence their online brand reputation. A dissatisfied shopper or even a rival could rather effortlessly harm a company’s social media reliability by creating a bogus page. As they had zero control over these third-party accounts, it was simple for their reputation to get damaged in any event the owner posted pictures that would be damaging to the business. That said, an in house social media department would forbid such unwanted situations. Supremal will never need to deal with this difficulty as all official brand information will just come through online channels they control.

Customers are the lifeblood of any business; what many fail to recognize is that, post-sales support plays a crucial role in enhancing brand devotion. Reacting to customer concerns and working together to resolve the dilemma is a fundamental part of growing brand loyalty thus securing repeat purchases. With digital media, Supremal performs outstandingly in this area.

When compared with other firms that only have a singular social media account to deal with grievances and promotional offerings, Supremal has gone one step farther to set-up unique accounts for each. For example, there was an account created for after-sales support (meant to take care of support related questions only) and yet another for marketing (featuring the latest offers and deals).

At the end of the day, customers of any business want to feel valued; the first step to achieving this is to have a “live” person talking to them and dealing with their issues, rather than computer generated answers which farther space the company and its customers. This will, certainly, bring the customers nearer and compel them to spend more down the road.

Did it Succeed?
The Chief Executive’s initiatives reaped rewards; based on numerous sources, Supremal has secured a market share of approximately 33.1%, nearly 9 percentage points ahead of the next closest competition. This apparent change in the company direction was well received by the management, the board and investors likewise. Thanks to this cutting edge digital marketing strategy in place, Supremal’s reach and value in the market has increased tremendously. With the development of more online content and even mobile uses, Supremal’s commitment to technology is their springboard to success. These applications should help them reach an even wider audience outside of conventional design and development of a website.

We are able to learn widely from Supremal. No matter how large, one cannot expect its present share in the market to continue ensuring its success. Continuous initiatives in digital and social media marketing are required to constantly engage consumers and keep a business’s competitiveness in the digital era.

Additionally, companies cannot afford to stick with their old ways in this era. Maintaining a quality on-line presence is now essential to any company in Singapore. Its amount of significance is proven by its ability to fix crumbling businesses that are on the verge of shutting down.

Ensuring a Business’s Survival with the Use of Digital Media

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Understandably, the majority of companies weren’t ready when the web became accessible and adopted by the masses so quickly. They didn’t have digital media in their overall plan and had a hard time keeping up with companies that were significantly more competent in this particular aspect.They’re presented with the desperate situation of changing their marketing and advertising strategies to contend with more digitally inclined businesses.

The companies that managed to master digital marketing (or partnered with a competent digital marketing agency) reaped the wages. They observed an increasing client base that showed active involvement online. Apparently, digital marketing is a powerful tool in business. There are instances in which failing enterprises have been saved from closing through a comprehensive and expertly planned campaign skilfully carried out by a digital agency. One particular instance is with the multinational supermarket chain Fastside.

As one of Singapore’s largest supermarkets and one of the major brands in the Consumer Goods marketplace, Fastside enjoyed a comparatively prosperous and comfortable existence. The supermarket chain had shops in virtually every town and had very little competition aside from small markets. However, when March of 2011 rolled around, Fastside found itself fighting due to specific things.

The hiring and its affiliated costs of hiring a brand new Chief Executive was the first issue. This was prompted by an unsuccessful attempt to broaden their reach across Europe and Asia.

Fastside shortly became subjected to Murphy’s law, where if things could go wrong, they’d. Virtually any opportunity that appeared in the market was quickly capitalized upon by one of the firms. At some point, it was impossible to disregard the existence of a similar store at almost every street.

In the meantime, there seemed to be a marked change in buying behaviour that resulted in customers espousing the relevance of price over loyalty to the brand. Fastside’s powerful track record had been threatened – causing turmoil between their well-known shareholders. A noticeable decline of ten percent in profits triggered alarm bells to go off within the firm.

How the Use of Digital Media Restored Fastside
During that time, Fastside’s online presence was restricted to an online store. Though functional, a great deal more was needed – the company was in urgent of a comprehensive online marketing plan, and the new CEO, being well-versed in technology, was made to see, drive and execute this strategy for Fastside’s survival.

To benefit from the inhouse expertise at disposal, Fastside’s very first reaction was to create an in house online marketing department. Fastside expected they could tap on the talents of these future tech specialists as a replacement for a digital agency.

To reinforce their online market arm, they have to attract more people to their e-commerce stores. For this to be possible, it would have to go past its dependence on tried-and-tested traditional advertising means. Fastside decided on the most popular and cost effective techniques , marketing through branded content.

Fastside additionally drives content marketing by having a “Dish of the Day” link, which users can access from its main website. This tab sends them to “Fastside Dishes”, which is a website aimed at sharing some really distinctive information: recipes and motivational posts to encourage nutritious eating.

Its introduction enabled Fastside to soft-sell itself by adopting an educational approach and being useful to the customer. The flow of information within the microsite to the online store was smooth and convenient because of the links spread amongst the information. The smart way in which this information website was designed and developed smartly associates Fastside with nutrition and a healthy way of life, thus increasing e-commerce sales with the appropriate audience. The approach used here hinges on a fundamental consumer mindset of wanting immediate gratification. Because Fastside has made it so simple for shoppers to purchase from it, it’s essentially idiot proof for even the least digitally savvy of users.

The great usage of social media in their industry meant that Fastside needed to play an active job or risk being irrelevant. They began to register their official accounts on the more dominant websites, such as Twitter and Pinterest. Internal management of these social media channels enabled Fastside to create and send out marketing messages in a fast and direct way. It also meant that consumers obtained up to date and pertinent information directly from Fastside.

Most importantly, the priority is for Fastside to keep total control of any messages being sent out over the net. Competitions could readily and discreetly create a bogus account to spread false info about Fastside and spread incorrect information about its products. By having absolute control over its accounts, Fastside could be counted on to supply verified info via the official social media channels.

Speaking of building a connection with customers, the most significant channel is customer support. The public’s entire opinion can be substantially swayed via the competence of their customer support department. Fastside supplies an ideal example for others to follow.

To avoid an overlap in communications, Fastside set up a number of social media accounts – each with a particular schedule in head. There was one account specifically to respond to customer questions and remarks and another to disseminate useful info such as offers and promos.

The people behind the Twitter Fastside Customer Support are additionally trained to post with a balanced and carefree tone, even to the stage where they engage in banter with customers and other brands. Customers are much likelier to have faith in Fastside’s support as they feel there’s another person behind the account instead of an automated responder.

Sources demonstrated that Fastside’s well thought out digital marketing strategy paid off hugely. Fastside commanded nearly one third of the market share while their closest contender only succeeded in holding on to half of that. It’d definitely resonate with senior executives during their meetings.

Their firm standing in the market is certainly ready to expand as they continue developing their digital marketing strategy. They are in position to reap the benefits of their investments into the digital world – a mobile app (compatible across smartphones and tablets) is said to be in the pipeline. By just breaking the hurdles that limit website development, this app has far better potential to reach out to an extensive number of potential customers.

Lessons Learnt
Fastside’s instance provides many lessons. First of all, the digital era transforms the way in which business is done in all industries. Thanks to progress in digital marketing and social media marketing, vibrant new ventures are highly capable of capturing a vast amount of business from sedentary industry titans. Secondly, Fastside has revealed just how necessary digital media and an internet presence are “must haves” in the present company landscape. Failure to factor this wihtin your business is the same as granting the competitors the right to stay ahead of you.