Is it Wise to Forgo Digital Marketing in Singapore Today?

Singapore city skyline

Interestingly enough, many SMEs in Singapore have overlooked their customers’ day-to-day reliance on the web. These companies lagged even further as internet adoption hastened as a result of lower costs and greater availability. In a way, these businesses are crippled hence unable to extend their influence to keep any advantage they may now hold.

The usage of digital media is typically more difficult for larger companies that already comfortably engage in traditional processes. There was an example a while back concerning one of such corporations that was making a loss on an hourly basis. It’s great to understand though that they explored their online marketing alternatives to avoid having to fold. The business being referred to is the one and only the famous Vayant.

Prior to the turn of the century, Vayant – with its multiple shops and low competitive hazard – was a marketplace giant in the Fast Moving Consumer Goods sector. Nowadays, because of unforeseen circumstances, Vayant’s dominance in the market is decreasing fast. First issues arose with an expensive company restructuring program that was put into motion by a just hired Chief Executive Officer. This was kickstarted when Vayant didn’t manage to get a hold on the European and Asian marketplaces.

Additionally, the increased rivalry within the business had raised the stakes for all parties. New players with extensive knowledge in digital marketing were appearing every now and then. It came to a state where there was a retail outlet located at basically every street in town.

Vayant’s leverage during that stage comprise market presence and branding. But the name recognition can just prevent failure, and it did’t save them from losing customer and investor faithfulness. Prominent investors of the sickly business declared publicly that they have lost at least $190 million simply from the dismal financial performance.

Previously, Vayant’s online existence was restricted to an e-commerce setup. Despite being functional, a great deal more was required – the business was in urgent of a comprehensive strategy in digital marketing, and the new CEO, being very knowledgeable in technology, was made to see, drive and execute this strategy for Vayant’s survival.

Employing the expertise of a Marketing Agency
In order to take advantage of the internal talent available, Vayant’s preliminary reaction was to create an in-house digital marketing agency. They looked to harvest the knowhow of these budding online marketers as an alternative to an online marketing agency.

Digital marketing methods were discovered to be more advantageous as time went by as a result of its efficiency and low cost, thus funds began being channeled there from the conventional marketing and advertising resources. Supercharging the sales volume of the e-commerce website was the main objective at hand. Content marketing was chosen as the way to go to increase web traffic and engagement, thus resulting in more earnings. Vayant added a new Specials button within their e-commerce store which when clicked on sends the user to a microsite called “Vayant Specials”. Write-ups like recipes, food preparation techniques, health posts and motivational stories filled the pages of the Vayant Specials site.

The tactical positioning of this mini site as an external source of handy health information is an excellent move. Moreover, it acts as a portal to Vayant’s e-commerce shop. By utilizing a great user journey during the creation of the website, Vayant was able to link its products with health and fitness friendly purchasing habits. When website design and development is done right, it makes it quite convenient for online shoppers to get to where they need, fast. This approach unquestionably increases the probability that a customer will buy from Vayant’s online store.

Marketing through social media was yet another vital tactical element within the campaign in digital marketing that was carried out by Vayant. Due to the immense scale of the corporation, Vayant didn’t have to hire a specialized marketing agency specializing in social media. It kickstarted this strategy with the essential but essential job of signing up for their very own official social media accounts. Internal control over social media translated to unobstructed transitions from thoughts to campaigns or promos. Such efficiency certainly means that users are always up to speed on the most recent promotions and news.

Above all, the priority is for Vayant to maintain complete control of the messages being sent out over the internet. There’s hardly any hurdle – and an excessive amount of vested interest – for anyone evil enough to create fake accounts to attack the supermarket giant. With absolute control over its accounts, Vayant could be counted on to supply verified info via the official social channels.

Initiating Excellent Support via the website
When it comes to building a connection with customers, the most important channel is after sales support. People’s view of an organization is very much based on their after-sales support services. Vayant supplies a great example for other businesses to follow.

As an illustration of the importance Vayant places on on-line support, they dedicate a separate social media account to take care of customer questions and complaints. This empowered unsatisfied customers to communicate directly with their comments without diluting the promotional updates from Vayant to other customers.

Basically, personalized and direct responses to questions make customers feel really looked after. This begins by nurturing a team that deals with customers on a personable level, answering their concerns and resolving problems in a nice and helpful style. This will, certainly, bring the users nearer and entice them to spend more money at a later stage.

How it worked out
The huge reward of obtaining the largest market share in Singapore plainly demonstrates that Vayant’s online marketing strategy worked like a charm. Data accumulated from July of the past year indicates that Vayant controls over a quarter of the market share. This is nearly thrice the market share of the next largest firm, which just holds 12.1%.

With its new digital marketing plan, Vayant’s future appears to an excellent one. Investments in technology are sure to pay off as their tech folks are reportedly concentrating on creating a series of Vayant mobile apps. By breaking the hurdles that restrict the designing and developing of a website, this application has far better potential to reach out to a massive group of potential customers.

Marketing segmentation customers care customer relationship management (CRM) and team building concepts.

Key Takeaways
Many companies can learn from Vayant. No matter how huge, one cannot count on its existing influence to continue ensuring its success. Without a doubt, any company that aims to be current and dynamic in the digital age requires a quality digital strategy. If the deficiency of an online presence can have such negative effects on a big, established business like Vayant, envision the consequences it would have on smaller businesses. Digital media has developed into a must-have promotion medium to remain abreast with the times and leaving it on the backburner would have devastating consequences for the business in question.

A New Type of Agency for the Digital Age

All of a sudden, the internet became so active and widely adopted by the public. The fact is, many companies were not prepared. They didn’t have digital media as part of their overall plan and had a hard time keeping up with competitors that were a lot more capable in such an aspect. They’re presented with the grave situation of revising their marketing plans to compete with more technologically savvy companies.

The businesses that grasped marketing through digital media themselves or partnered with a Singapore based digital marketing agency reaped the most benefits. They observed a growing customer base that showed active involvement on the internet. Clearly, marketing through digital media is a convincing tool in business. As of now, there were many instances where businesses propelled themselves out of dire straits with this weapon. Multi-national grocery chain Finetric would be one such example.

Being a giant in the Singaporean Fast Moving Consumer Goods market, Finetric was known as one of many biggest and most highly regarded supermarkets with acceptable popularity. Their stores were usually spotted in just about any major neighbourhood, challenged only by little sundry stores. Nevertheless around the end of 2010, Finetric’s dominance took a severe turn.

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How the Issues Arose
Its affiliated costs and the hiring of hiring a fresh Chief Executive was the first problem. Finetric needed a new one as it was unsuccessful in developing international markets. Additionally, the increased rivalry within the industry had elevated the stakes for all parties. Startups with extensive expertise in online marketing were emerging now and again. It reached a state where there was a retail outlet awaiting at basically every road in town.

There was also a noteworthy change in consumer attitudes, where price preceded brand loyalty. Such a development created tension among Finetric’s key shareholders when their monetary stronghold started going down hill. Certainly, the considerable decline in earnings caused investors to take notice.

Adopting a Well Planned Digital Marketing Campaign
During that time, Finetric’s on-line presence was confined to an e-commerce store.Despite the fact that this served its basic function, the business was in desperate need of a more successful digital marketing strategy. Thanks to the digitally savvy CEO, a strategy was put into motion to optimize Finetric’s unexplored online potential.

The very first thing Finetric did was to put together an internal internet marketing team; via this, Finetric needed to develop and create a powerful center of tech internet marketers. By tapping on their excellent innate talent, Finetric looked to release the complete potential of their team as a substitute for a digital advertising agency. In the era of intensifying rivalry and constant slashes in budgets, companies were forced to deliver more with less. Finetric tapped on marketing branded content as the primary tool to increase e store profits and appease their shareholders.

Using an Informative Microsite
By playing around with their online store structure such as incorporating a Fine Dishes button, Finetric was able to direct users to a microsite called “Finetric Fine Dishes”. Food-related information such recipes, motivational examples and well-being trivia were shared openly on this particular site. The tactical placement of this microsite as an independent source of useful health advice is a dazzling move. Additionally, it acts as a gateway to Finetric’s ecommerce shop. This web development strategy supports customers to buy at Finetric’s online store, since it subtly links Finetric with healthy and balanced food. When the design and development of a website is well executed, it makes it very convenient for online shoppers to get to where they need, quickly. Finetric’s approach offers simple convenience, decreasing the likelihood of customers being sidelined by other online grocery stores.

Using Social Media to its Fullest Extent
The great usage of social media marketing in business meant that Finetric needed to play an active part or risk being irrelevant. They began to sign up for their official accounts on the more popular websites, for example Facebook and Instagram. Two invaluable uses can be derived from opening their own profiles on these societal platforms. The first manner is obvious – this acts as another communication vehicle to contact customers. They even initiated special Twitter reports for their various sections. Distinct profiles were created to share info on promotions, real foods, wines et cetera.

More notably, Finetric retained absolute control over their online brand image. There’s hardly any barrier – and an excessive amount of vested interest – for any person evil enough to create fake accounts to attack the supermarket giant. By having their very own official pages, Finetric could easily discredit the legitimacy of these fake pages and offer exact, dependable info. Customers and sales are undoubtedly the backbone of any business. The significance of after-sales support is constantly disregarded in its function of strengthening loyalty to the brand. Resolving customer problems and maintaining relationships are crucial to maintaining a loyal consumer base. Finetric truly exemplifies this great business practice.

Different Accounts for Different Purposes
By establishing a number of social media accounts to deal with different aspects of the business, Finetric breaks down the barrier between customer and firm. There was one account especially to respond to customer questions and remarks and another to send out useful information for example offers and promos.

Finetric also ensured that the staff manning the customer service accounts offer a human touch whenever they connect with customers. Users feel more assured that they are being given quality service when the answers are genuine and personalized as opposed to cold computer created answers.

The CEO’s approach worked like a charm; according to various sources, Finetric has secured a market share of about 29%, almost 14 percentage points in front of the next closest opponent. This clear change in the business direction was well received by the top management and shareholders.

Their stronghold in the marketplace is definitely ready to grow as they carry on building their digital marketing strategy. The in-house development team are actively pushing out mobile programs that may expand Finetric’s reach to more people. This is a lot more than what conventional website design and development can hope to reach.

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Lessons Learnt
Finetric can be used as a case study for many firms. No matter how big, one cannot expect its present share in the market to continue ensuring its success. Certainly, any company that aims to be current and dynamic in the digital era needs to have a superior digital strategy. Irrespective of the industry, businesses must progress with the environment. Getting online is, unquestionably, an important building tool to ensure profitability in this little nation known as Singapore. Its amount of importance is exhibited by its ability to fix crumbling companies that are on the brink of closure.

Have You Started with Online Marketing?

A lot of unsuspecting businesses are faced with the backlash of the internet’s impact upon the general public. An increasing number of Singaporean firms are fighting to outperform their more digitally savvy competitors through the unfamiliar internet marketing platform.

Instances of businesses taking advantage of on digital media and doing well are in abundance. Using Roxy as an illustration, it demonstrates how a conventional retail chain goliath can successfully turn its dwindling fortunes around using internet marketing. With a digital media platform, Roxy has stopped being restricted by brick-and-mortar constraints and can effectively widen and serve its customers 24/7. Prior to the turn of the century, Roxy’s leading standing in the consumer goods business – supported by its extensive store reach nationwide and small competition – helped the business remain highly profitable. In recent years, as a result of unforeseen conditions, Roxy’s dominance in the market is decreasing rapidly.

Things Started to Go Downhill for Roxy
The first bump in the road occurred as a result of the unnecessary costs brought on by the new Chief Executive Officer’s restructuring program. The previous CEO, failing to get a hold of the international marketplaces efficiently, was replaced by the new one.

Naturally, the clash for market share was raising within the industry. Every other day, a fresh new firm would appear, armed with in-depth online marketing knowledge. It reached to the extent that these stores were emerging at every corner. Roxy endured a serious blow from this shift in the competitive landscape. Customers reduced their spending at the retailer, and this reduction was evident in its records. Undoubtedly, the significant drop in earnings caused shareholders to realize the problem.

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Employing Online Marketing to its fullest
The new Chief Executive Officer believed steadfastly in utilizing technological innovation to remodel a company; that was the main reason why he was appointed. An online store was already in place, but the intense competition gave them no choice but to be more proactive. The new CEO initiated the rejuvenation process by creating an internal online marketing division. The main goal of Roxy’s CEO was to develop a digital marketing message that was strong and consistent. Even so, keeping to the main plan had limits for the inhouse team. A greater leverage could be put into motion with the expertise of a competent marketing agency with digital capabilities.

Roxy had to improve sales on its online store. In order this to be possible, it’d need to go past its reliance on tried-and-tested traditional marketing means. Depending on a tried and tested instrument, Roxy’s marketing team chosen to utilize the profitable approach known as marketing through branded content.

By altering their online store design such as introducing a “Feast” button, Roxy managed to redirect users to a microsite called “Roxy Treats”. Food-related info such recipes, articles, life inspiring examples and well-being trivia were discussed openly with this website.

With the arrival of this microsite, Roxy is effectively positioning it as an informative portal without the hard sell to visit its online store. Additionally, it acts as a gateway to Roxy’s e-commerce store. This website design and development strategy (incorporating good UI and UX) encourages customers to purchase at Roxy’s online shop, since it discreetly links Roxy with healthy and balanced food. When the design of a website is well executed, it makes it really suitable for online shoppers to get to where they need, quickly. Such a strategy definitely improves the chance that a shopper will buy from Roxy’s e-commerce store.

Tapping on on Social Media
As a result of social media being so popular and widely-used by the masses, Roxy acknowledged the demand to leverage on this platform to increase its reach in the industry. They started to create their official profiles on the more dominant sites, for example Facebook, Twitter and Pinterest. Having their own official social media accounts enables Roxy to use them in two ways. To start with, it serves as another channel for promotion and communicating with their customers. A specialized Twitter account was even created for the individual business units. What’s more, distinctive profiles had been set up for a number of subdivisions like latest deals, bottled drinks, wines et cetera.

More notably, Roxy retained absolute control over their online brand image. There’s hardly any obstacle – and an excessive amount of vested interest – for any person evil enough to sign up for fraudulent accounts to assault the supermarket giant. Through internal oversight and management of their social media accounts, Roxy has the ability to correctly represent themselves and prevent illegitimate claims on their page. Customer support does play probably the most important function in improving customer loyalty. The way that a customer sees a business is greatly dependent on how the latter renders support to the former. Roxy’s practices are a great model to exemplify.

Compared to other companies which just have a singular social media account to take care of complaints and promotional offerings, Roxy has gone a step farther to set-up unique accounts for each. For example, there was an account setup for after-sales support (meant to care for support associated questions only) and another for marketing (featuring the newest products and promotions).

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The folks behind the Facebook Roxy Customer Support are also trained to post with a balanced and jovial tone, even to the point where they participate in banter with customers and other brands. Customers are more likely to trust Roxy’s support as they believe there’s another individual behind the account instead of an automated responder.

To put it simply, the proof is in the pudding. Roxy’s digital marketing plan resulted in them gaining control of around one third of market share. This is as compared to their closest challenger that hung on to merely half of that. This clear change in the company direction was well received by the management, the board and investors likewise.

Such results would definitely propel Roxy to build on its success and further improve its strategy in online marketing to gain a larger share of the market. Roxy’s emphasis on technology including the creation of an innovative mobile program will only increase the avenues to which consumers can reach out to Roxy.

The Summary
Roxy’s case provides us with some invaluable information. To begin with, it is not possible to be completely reassured of your position inside an industry, notably in the digital age. Every player in the marketplace can use digital and social media marketing to extend its reach and compete head on with giants on an equivalent stage.

Knowing that businesses cannot afford to remain stagnant during this technologically advanced time period stands out as the next lesson. Embracing technology is, unquestionably, a key building tool to reach business success in our little nation. It has become a fundamental prerequisite which plays such notable role that it could decide the success or failure of a company.