The Evolution of Businesses since Online Media Took Over

internet

Lots of unsuspecting companies are confronted by the problem of the net’s influence on the public. A growing number of Singaporean firms are fighting to outperform their far more digitally inclined adversaries via the unfamiliar online marketing platform.

The companies that managed to grasp marketing through digital media (or partnered with a competent digital marketing agency) reaped the benefits. Their customer base enlarged, and comprised loyal customers more compelled to supply repeat business. These firms knew that marketing through digital media was extremely effective and kept it as an important technique in their arsenal. There have been cases where companies already on the verge of folding were able to make a comeback with a well thought-out and perfectly-executed campaign done by a marketing agency specializing in digital media. Multi-national grocery store chain Priomart would be one such example.

Before 2008, Priomart’s national reach and small rivalry meant they had a stronghold in the FMCG business. However, as a result of unforeseen circumstances, Priomart lost their footing within the market and this left them vulnerable. Initial problems arose with an expensive business restructuring plan that was kickstarted by a newly hired Chief Executive. The former CEO, unable to get a hold of the European and Asian marketplaces effectively, was replaced by the new one.

An additional obstruction is the perception that local out-of-town malls were losing their popularity. Although a decrease in visitor traffic would undoubtedly trouble the supermarket chain, it was Embric and Primefresh that became its largest nightmare. These industry newbies were more digitally inclined with fresh new marketing strategies. They could raise their market stronghold by aiming for highly specialized sections of the industry. German possessed Embric brought the price conscious group of customers whilst the brand aware crowd were mostly flocking towards Primefresh.

There was also a notable change in the behaviors of consumers, where cost preceded brand faithfulness. Priomart’s strong track record had been shaken – leading to chaos between their major investors. To place the situation into perspective, Priomart’s gains fell by a tenth – a surefire way of getting investors worried.

How Priomart Saved Itself through a Multi-Tiered Online Marketing Campaign
During that period, Priomart’s online store was its only online presence. Despite being functional, much more was required – the company was in urgent of a complete strategy in internet marketing, and the new CEO, being well-versed in technology, was appointed to imagine, drive and execute this strategy for Priomart’s survival.

Their first approach was to kickstart their own in-house internet marketing arm by using a technology incubator that educates young tech entrepreneurs. By leveraging on their excellent innate abilities, Priomart seeked to release the full potential of their team as a substitute for a digital agency. For an instance where finances are tight and competition is formidable, companies are expected to maximize the use of whatever money they’d. This fundamental shift driven Priomart to seriously evaluate its alternatives and it eventually chose spreading its marketing message through branded content, betting on it to help deliver the figures.

By playing around with their online store structure like incorporating a PrioFresh button, Priomart got to direct users to a microsite named “Priomart Fresh Foods”. The site includes food-related content such as recipes, inspirational publications, and wellness-related posts that are related to food.

The informative microsite proves that the new Priomart direction focuses on quality website design because it by itself can exist as a useful online resource for people hunting for food. As it is connected to Priomart as a brand, it helps promote customer loyalty while discreetly convincing users to shop more at their online grocery store. Individuals are less likely to visit competing online stores when Priomart’s is just a click away from Priomart Fresh Foods.

The existence of social media meant that Priomart would have to be there too or possibly get left out. They began to create their official accounts on the more popular websites, for example Facebook, Twitter and Pinterest. Direct management of these social media accounts meant that Priomart could spread their marketing campaigns and promotions whenever they were finalized. Such efficacy inevitably means that users are consistently up to speed on the most recent deals and news.

Above all, the precedence is for Priomart to maintain total control over any messages being broadcast over the web. Competitions could easily and discreetly create a fake account to propagate negative news about Priomart and misrepresent its products. By maintaining their own official pages, Priomart could easily discredit the legitimacy of these phony pages and provide exact, dependable advice.

Customer Support was by far the Top Priority
Customers are the ones keeping up a business. Superb post-sales support helps to create opportunities for brand loyalty and repeat business, as studies have always shown. This is where Priomart truly shines. Priomart has a dedicated social media profile to engage with customers. On a similar note, they have other dedicated accounts for promotional purposes as well. This ensures that marketing related communication are separated, such that each profile can do what it has been designed to do.

Priomart also ensured that the team members manning the customer support accounts present a human touch whenever they connect with customers. A natural and friendly strategy develops connections and confidence in the brand, hugely contrasting with the robotic replies of an automated bot.

A well planned digital marketing strategy on Priomart’s part brought about tangible results: consolidated data from numerous sources pointed to Priomart procuring almost a third of the market, whereas the closest challenger held on to half of that number. It was undoubtedly something that the management team could shout about to the board and its investors. Priomart is riding on this digitally-driven commercial success and working on launching its own mobile app to further enlarge its reach. This would definitely make it easier for customers to purchase more from Priomart and improve its profitability.

Main Lessons
You will discover a lot of lessons in Priomart’s case. To begin with, the digital age greatly affects all organizations, regardless of how big they are. Credits to advancements in digital and social media marketing, vibrant new ventures are extremely capable of capturing a vast number of market share from sedentary sector titans. More notably, each company must keep up with the times. Creating and sustaining a quality on-line presence is currently crucial to any company in Singapore. It has grown into a requirement and has become so strong that it can salvage even a business that’s already on the verge of failure.