In Singapore, many businesses did not realize the profound impact the web has on the lives of the masses. Because of the fact that the internet enables consumers to purchase goods and services in a significantly more straightforward way, these companies have a tendency to lose out in the long term. They may be not able to take advantage of this trend to expand their marketing reach and preserve a lasting advantage in the industry. On the other hand, a few firms that were swayed to embrace digital mediums stood to receive great results. Their user base expanded, and comprised loyal customers more compelled to supply repeat business. Digital marketing has demonstrated itself to be a powerful instrument for businesses. There are instances in which failing enterprises were saved from closing through a detailed and expertly planned campaign deftly executed by a digital agency. An example of this is market titan Fyldermart.
Fyldermart was a giant in the retail and Consumer Goods space; this market dominance allowed Fyldermart to be money-making. Their stores were commonly spotted in just about any key neighbourhood, challenged only by little family run stores. However, before the turn of the century, Fyldermart was entrenched in trouble.
Changes Due to the Appointment of a New CEO
Its related costs and the hiring of hiring a new CEO was the first issue. This was the consequence of an unsuccessful endeavor to penetrate markets outside of Singapore. The next issue was that in Singapore, sub urban shopping centers where Fyldermart stores were generally found, were also becoming less popular. Rapid growth of competitions Nowrush and Portings was the next big obstacle. These industry newcomers were more technologically inclined with refreshing marketing strategies. They’ve been able to acquire sound ground by focusing on very special corners of the marketplace. German possessed Nowrush attracted the cost conscious group of customers whilst the brand conscious crowd were largely drawn towards Portings.
In the meantime, there was a noticeable evolution in consumer behavior that resulted in customers espousing the relevance of value over loyalty to the brand. This drastic change hurt Fyldermart’s publications, which indisputably created much anger amongst its shareholders as they watched the value of their investments evaporate. Undoubtedly, the large decline in earnings caused investors to realize the problem.
Utilizing Digital Media to its fullest extent
So as to effectively reclaim Fyldermart’s on-line ranking, the recently appointed Chief Executive – a lover of technological progress – wrangled up an internal digital marketing team. Despite a completely functioning online store in place, they had to step up their game.
Nevertheless, organic growth could just take it so far; they would have to engage a Singapore digital agency specializing in social media marketing to help fuel the growth of its on-line presence. Prospective partners were thoroughly studied before a choice was made. They decided on an agency that was able to aid them in requirements across a variety of digital platforms.
For a scenario in which budgets are limited and competition is strong, companies are expected to maximize the use of whatever money they had. To meet investor expectations, Fyldermart decided on something different – content marketing – to capture online store sales quickly.
The Emergence of an Informative Microsite
Within Fyldermart’s online store, there’s a “Cure Your Tastebuds” tab which brings visitors to “Fyldermart Great Food”. This became a microsite designed to host and provide wellness-oriented content, such as recipes and inspirational posts to support appropriate eating and diets.
Essentially, Fyldermart uses the microsite to strategically and casually disseminate applicable advice to prospective customers. The flow of information and facts in the microsite to the online store was fluid and hassle-free because of the hyperlinks scattered across the information. The smart way in which this website was crafted and developed cleverly associates Fyldermart with nutrition and a healthy lifestyle, therefore increasing e-commerce profits with the proper crowd. The main idea behind this plan tends upon typical consumer behavior that centers around instant gratification. This plan gives them convenience, so they are less likely to visit other online shops when Fyldermart is so easily reachable.
Making use of Social Media to its Fullest Extent
Fyldermart must bow to the distinct popularity of social media marketing so as to stay inclusive and present. They began to register their social networking accounts on the more popular sites, for example Twitter and Pinterest. Having their own official social media accounts allows Fyldermart to use them in two manners. To begin with, it functions as another avenue for promotion and communicating with their customers. A specialized Twitter handle was even established for each and every division. Different accounts were created to share info on promotions, real foods, wines and so on.
Second, it gives them more control over their brand and image online. In this aspect, it’s too easy for one’s online brand image to be destroyed by an irate customer or a competitor – this is done by setting up a bogus account, normally driven by malicious goals. As the content wasn’t official nor confirmed at the source, Fyldermart would need to be constantly prepared for damage control whenever strikes on its brand happened. That said, an in house social media division would forbid any such unwanted occurrences. Now that Fyldermart is the one and only channel for all updates, the firm is protected from such undesirable circumstances.
A great emphasis on web based customer support
Whilst sales amounts are the primary driving force behind a business like Fyldermart, another critical but understated brand accentuating element is after sales service. Resolving customer problems and preserving relationships are critical to growing a loyal consumer base. Fyldermart truly illustrates this good business practice.
A special Twitter account is devoted to interacting only with users while another profile is used for sales efforts. This results in a clear connection between the shopper and after sales support without the clutter of marketing related communications.
The people behind the Twitter Fyldermart Customer Support are also told to post with a balanced and light-hearted tone, even to the stage where they engage in positive debate with customers and other brands. This move towards describing itself as less corporate helps to bring customers closer, since they will believe an actual human would be more vested in solving their issues.
Dependable data showed that Fyldermart’s well planned digital marketing strategy paid off hugely. Fyldermart commanded almost one third of the share of the market while their closest contender only managed to keep half of that. It would definitely resonate with key executives during annual general meetings.
Such results would undoubtedly propel Fyldermart to build on its success and further improve its strategy in online marketing to gain a larger portion of the market. In conjunction with the development and introduction of mobile apps, it makes it even simpler for consumers to purchase and engage Fyldermart than what traditional means – such as designing and developing of a simple website – would ever expect to reach.
Fyldermart can be used as an example for many firms. To begin with, companies cannot embrace a “business as usual” prognosis and expect that previous successes would continue to get them by. Digital and social media marketing has to be included into their plans for them to stay competitive in Singapore’s business landscape.
Irrespective of the business, companies must progress with the landscape. Having an internet presence is not any longer optional, but has become essential to a company’ success. Its existence as part of a business and ability to turn a company’s fortunes around like Fyldermart is established and widely recognized; any business expecting to live must have digital media as part of its corporate strategy.