A bulk of local Singaporean businesses cannot truly comprehend the power of the net upon the daily lives of its consumers. Due to the fact the internet permits consumers to access goods and services in a much more straightforward manner, these firms tend to lose out in the long run. They’re unable to take advantage of this trend to extend their marketing reach and maintain a lasting competitive advantage. Firms that leveraged on digital marketing got the best benefit. Their customer base enlarged, and comprised loyal customers more willing to provide repeat business. Digital marketing has proven itself to be a highly reliable approach for companies. There are situations whereby companies on a going downhill find a way to turn losses into profits with a well organized effort conducted by a digital agency. InterFirst is, without a doubt, the best example.
A key player in the Singaporean Fast Moving Consumer Goods (FMCG) marketplace, InterFirst was recognized as among the biggest and most highly regarded supermarkets with reasonable popularity. The chain was to be found in nearly every township with the competition being largely small establishments. However, when the mid of 2015 rolled around, InterFirst found itself fighting for certain things. With the failure to obtain market dominance in the European and Asian markets, InterFirst decided to hire a fresh Chief Executive Officer. As with any change in top management, the new CEO gave InterFirst a total overhaul. This resulted in enormous prices for InterFirst and had an undesirable impact on its cash assets.
Additionally, the heightened rivalry within the sector had elevated the stakes for everyone. Just about any little opportunity that appeared in the market was quickly capitalized upon by one of them. Beyond a certain point, it was not possible to disregard the existence of a rival store at virtually every street. All the while, InterFirst’s standing as a household name was amongst its strong suits. Regrettably, these natural values eventually did not prevent falls in sales and investments. Visible stockholders of the ailing firm declared on public record that they have lost no less than $260 million simply from the dismal fiscal performance.
So as to effectively reclaim InterFirst’s on-line ranking, the newly appointed Chief Executive – a devotee of technological advancement – wrangled up an internal online marketing team. Despite the fact that InterFirst’s web store at that time was excellent, the changing times required a completely new way of taking care of this online presence.
Obtaining The Services Of A Digital Marketing Outfit
To execute the strategy, an in-house digital marketing team was assembled by the new CEO. The key objective of InterFirst’s CEO was to develop a digital marketing message that was strong and unified. Having said that, it was incredibly tough to carry on with the strategy by simply expanding the internal team organically. A more significant leverage could be put into motion with the know-how of a professional digital marketing agency. Productiveness, value and yield are of absolute importance in this really competitive age. InterFirst tapped on reaching out through branded content as the main tool to increase e-store profits and appease their shareholders.
An element of the content marketing strategy was developing an interesting microsite which was linked to the InterFirst e-commerce store. This tab sends them to “InterFirst Finest”, which is a microsite dedicated to sharing some pretty distinctive content: recipes and inspirational content to encourage healthy and balanced eating.
Its introduction enabled InterFirst to soft-sell itself by adopting an educational approach and being helpful to the customer. Moreover, it acts as a gateway to InterFirst’s e commerce store. This web development strategy (incorporating good UI and UX) supports customers to buy at InterFirst’s web store, since it discreetly links InterFirst with healthy food. The main idea behind this plan tends upon common consumer behavior which is dependent on instant gratification. This strategy definitely raises the chances a shopper will buy from InterFirst’s online store.
One more strategy that InterFirst employed in their digital marketing campaign was social media marketing. As the business was large enough, they didn’t need the expertise of a third-party marketing agency specializing in social media. It commenced this strategy with the simple but crucial task of signing up for their own social media profiles. Absolute control over social media allowed unobstructed transitions from concepts to campaigns or promos. Such efficiency certainly means that users are constantly up to date on the newest deals and news.
Getting Into Full Control of their Online Brand Image
Next, it gives them far more control over their brand and image online. A problem arises when a customer or even a rival confirms an unofficial social media existence under their name. With zero influence or control of these accounts, it’d be straightforward for an external party to hurt the image of the company in question. This is a situation that an inhouse social media agency would never allow. Since InterFirst is the official channel for all updates, the business is shielded from such undesirable issues.
Customers are the ones keeping up a company. Responding to customer concerns and working together to solve the problem is an essential part of increasing loyalty to the brand thus ensuring repeat purchases. With digital media, InterFirst performs outstandingly in this area.
Compared to other businesses which just have a singular social media account to handle criticisms and promotional offerings, InterFirst has gone a step further to create individual accounts for each. This is seen when a single profile specially manages enquiries and complaints whilst another would drive sales through ads and special deals.
Irrespective of the company, its customers would undoubtedly choose to speak to actual human being, than to browse through a series of pre-programmed replies only to have their problems unsolved. This is an effective manner to foster loyalty to the brand and encourage repeat purchases.
Dependable data showed that InterFirst’s nicely executed strategy in digital marketing paid off hugely. InterFirst commanded nearly one third of the market while the next competitor only succeeded in retaining half of that. The encouraging shift in market share was certainly something to brag about to investors. This tremendously impressive result acts to only further strengthen InterFirst’s faith in a digital strategy. InterFirst’s investment in technology like the creation of an innovative mobile program will just increase the avenues to which consumers can connect with InterFirst.
InterFirst’s example allows us to learn quite a few fundamental lessons. To begin with, the digital age disrupts and shakes all organizations, irrespective of how big they are. Every participant in the market can use a variety of online marketing techniques to expand its reach and compete head on with giants on an equal platform. If a market leader like InterFirst was so readily crippled by the absence of an online presence, imagine the implications for a smaller business. Whether or not to embrace digital media is no longer an option that one has, as it may have been in yesteryears – it’s a fundamental tactic towards company expansion and success.