During this digital age, it may come as a surprise that many Singaporean companies are still unaware of their customers’ substantial reliance on the web. The profitability of these companies decreased further as internet adoption accelerated as a result of lower expenses and greater accessibility. Fact is, they’re not able to exploit this trend to extend their marketing reach and preserve a sustainable competitive advantage.
Notably for bigger corporations with well recognized processes already in place, the shift to digital media is never straightforward. There was actually a case not too long back involving one of such corporations that was losing money on an hourly basis. Fortunately enough, these people daringly turned to internet marketing in an attempt to save themselves from absolute failure. This business is none apart from Findory.
Just before the arrival of 2014, Findory’s national reach and small competition meant they had a stronghold in the Fast Moving Consumer Goods (FMCG) industry. After which, in a turn of events, Findory faced unprecedented challenges that threw it off balance in the marketplace.
The initial difficulty faced is the inordinate costs of restructuring brought by the hiring of a new CEO. The former CEO, failing to capture the European and Asian markets effectively, was dismissed and replaced by the new one.
To make matters worse, 2 adversaries ColdLion and Praxis entered the stadium. These two firms recognized that Findory wasn’t serving the whole market; underserved or neglected sections existed that could be easily exploited for profits. Besides battling it out on the retail floor, marketing through digital media became an essential part of their arsenal of weapons which greatly leveled the playing field when it arrived at fighting it out with the established businesses in cyberspace.
During this time, Findory’s reputation as a household name was amongst its strong suits. Sadly, these natural worth inevitably did not prevent falls in sales and investments. While Findory’s declines were just rising, existing investors began to regret sinking more than 500 million dollars into the business over the past year.
The newly hired Chief Executive Officer highly advocated using technology hence encouraged hiring staff to raise their web existence. An online store was already set up, but the new rivalry gave them no choice but to be more aggressive.
Findory’s idea was to optimize the expertise of a digital marketing agency to enlarge their online interests. After evaluating several possible partners, they eventually reached a final decision. The chosen agency possessed the capacities to support all of Findory’s requirements.
Productiveness, appeal and return is the prime emphasis in this tremendously competitive age. Findory tapped on content marketing as the primary tool to increase e store gains and appease their investors.
Within Findory’s online store, there’s a “Specialties” tab that brings visitors to “Findory Specialties”. Food-related information such recipes, articles, motivational stories and health trivia were shared openly with this website.
The site evolved into an impartial source of useful advice for its visitors, showing a shift in Findory’s web design emphasis. Also, this site is closely integrated with Findory’s main e-store, which reinforces the organization between it and the brand. They’re improving the likelihood for users to flow from this sub-site to Findory’s primary website rather than a challenger’s online grocery store.
Aside from the microsite, Findory deployed another key element within its online marketing campaign: marketing through social media. By the absolute scale of the firm, Findory managed to have an inhouse department to run this component of the campaign directly, bypassing the need for a professional social media agency. To begin with, Findory did the right thing by signing up for their own official social media accounts.
Two valuable uses can be derived from creating their own accounts on these societal platforms. The first way is obvious – this acts as another communication vehicle to reach out to customers. A specialized Twitter handle was even initiated for every single department. Additionally, unique profiles were in place for various subdivisions such as latest offers, bottled refreshments, wine beverages etc.
Most importantly, the priority is for Findory to keep complete control of any messages being sent out over the web. There’s very little barrier – and too much vested interest – for any person evil enough to sign up for fake accounts to assault the supermarket giant. With full control over its accounts, Findory could be relied upon to supply verified information via the legitimate social media channels.
Customers and sales are definitely the spine of any business. The value of after-sales service is frequently disregarded in its function of strengthening loyalty to the brand. Responding to customer concerns and working together to resolve the issue is a fundamental part of growing loyalty to the brand thus securing repeat purchases. Findory really exemplifies this great method of running a business.
A Google Plus account for after sales support is used purely for socializing with users along with other non marketing related agencies because they’ve another profile devoted to special offers and promos. What this means is the customer attention account isn’t littered with sales pitches or unrelated dialogs. If customers need to talk with support, they know which place to go and what to anticipate.
Special training is supplied towards the Findory After-sales Support team over the best means to interact with customers. A jovial and down-to-earth method is encouraged while staying helpful and solving issues immediately. Customers are much likelier to have faith in Findory’s support as they believe there’s another person behind the account instead of an automated responder. Findory’s strategy in digital marketing is benefiting them greatly as they currently control the largest share of supermarkets in Singapore. With reference to a number of data companies, Findory is in control of almost a third of the marketplace as of last July. The closest competition was lagging a long way behind, just managing to get hold of about 41% of that.
Its future is definitely bright and likely to get even brighter as Findory attempts to enhance its marketing strategy over time. With the development of more on-line content and even mobile apps, Findory’s dedication to technology is their catalyst to success. By breaking the hurdles that limit website design and development, this mobile application has far better potential to reach out to a massive group of consumers.
We can learn extensively from Findory. Focusing only on traditional techniques of branding and retail to sustain a company is not going to work. Digital and social media marketing needs to be included into their plans for them to stay competitive in today’s business landscape. Regardless of the industry, companies have to progress with the environment. Having an online presence is not any longer optional, but has become integral to a company’ success. It has become a necessity and has become so powerful that it can save even a business that’s already on the verge of failure.