A lot of unprepared businesses are confronted with the backlash of the net’s influence upon the public. Many firms in Singapore ended up being crushed by the pressure to compete against more digitally inclined upstarts along with the difficulty of adapting their marketing and advertising strategies to an unknown medium. The true winners were companies which had a compelling strategy in online marketing, produced either internally or by means of collaboration with a digital marketing agency. These businesses witnessed a growth in clients and a more active database. Digital marketing has proven itself to be a powerful instrument for businesses. As of now, there were numerous cases where companies propelled themselves out of dire straits with this weapon. An example of this is market titan Astromart.
Prior to August of 2010, Astromart’s national reach and small rivalry meant that they had a stronghold in the Fast Moving Consumer Goods business. Yet, because of unforeseen circumstances, Astromart lost their footing within the market and this left them vulnerable.
The Appointing of a New CEO
When the previous Chief Executive did not make Astromart thrive in other Asian markets, the Astromart board decided to hire a fresh CEO. To accommodate the new CEO’s objectives for the business, entire processes had to be overhauled. The price of setting these changes into motion adversely impacted Astromart’s fiscal standings.
Obviously, the clash for market share was increasing within the industry. Any little opening that surfaced in the market was swiftly capitalized upon by one of the firms. It came to a point where there was a retailer located at perpetually every road in town. Changes in overall consumer behavior also meant that low prices trumped repeat purchases resulting from brand devotion. Customers cut their spending at the supermarket chain, and this drop was clear in its records. A marked fall of ten percent in earnings triggered alarm bells to go off within the business.
Leveraging on Technology to Transform a Business
The new CEO believed firmly in using technological innovation to transform a business; that was the primary reason why he was hired. They already have a solid web store, but the stiff competition meant that they have to be more proactive. Their first move was to launch their own inhouse digital marketing agency by using a technology incubator that educates vibrant tech entrepreneurs. They looked to tap on the abilities of these aspiring online marketers as an alternative to an internet marketing agency.
The new norm for businesses in the present day is to carry out more with much less; in Astromart’s circumstance, it would need to increase its web store revenue using the most cost-effective strategy possible. The best way to live up to expectations was to maximize the possibility of content marketing and control the e commerce avenue.
Offering Users Invaluable Information through a Microsite
By playing around with their online store design like introducing a Trending button, Astromart got to direct users to a microsite named “Astromart Trending”. The site features food-related content like recipes, motivational publications, and health-related posts that pertain to food.
The tactical placement of this mini site as an unbiased source of invaluable health advice is an excellent move. Having said that, it’s also really simple for consumers to head over to the online store, as links to it are abound. The intelligent way in which this information website was crafted smartly links Astromart to nutrition and a healthy lifestyle, thereby driving online revenue with the relevant crowd. The approach applied here hinges on classic consumer mindset of wanting immediate results. Astromart’s strategy offers simple convenience, reducing the risk of users being sidelined by other on-line grocery stores.
In addition, Astromart is required to bow to the distinct rise in popularity of social media marketing so as to remain inclusive and present. Consequently, besides content marketing, Astromart also used social media marketing – increasing their influence on Facebook, Twitter, Pinterest, and Google – which was managed by their internal team.
Central management of these social media channels enabled Astromart to generate and broadcast advertising messages in a swift and direct manner. In this way, customers always get the latest advice on the exciting in-store promotions.
More notably, Astromart retained complete control over their online brand image. It’d be really easy for someone to launch a ficticious page and taint Astromart’s brand image with fake information. The development of an official accounts instantaneously prevents this hazard and functions as a reliable source of information. Customer care is the anchor of developing long lasting connections with customers. The impression of a company relies heavily on customer support dependability and helpfulness. On this area, it can be stated that Astromart has set a benchmark.
Maintaining a Google+ Profile Specially for a Special Purpose
A special Google+ profile is dedicated to socializing only with customers whilst a different profile is used for sales efforts. This translates to an obvious channel between the customer and support staff with no jumble of marketing related offers.
Basically, personalized and direct responses to questions make customers feel really taken care of. This starts by nurturing a team that connects with customers on a personal level, responding to their queries and resolving problems in a warm and pleasant mode. This will, definitely, bring the users nearer and entice them to spend more down the road.
The revamping of its strategy in digital marketing turned out to be incredibly valuable to Astromart. With reference to several data companies, Astromart has control over almost a third of the marketplace as of last January. This is almost double the share of the next largest market corporation that now controls around fifth. These results would definitely encourage Astromart to build on its success and further refine its digital marketing strategy to capture a bigger portion of the market. This would definitely allow it to be easier for customers to buy more from Astromart and enhance its profitability.
A good example would be Astromart. It is no longer a given to depend purely on branding and retail to ensure success. Companies must deploy digital marketing and social media marketing to consistently reach out to customers and ensure their relevance in the digital age.
Additionally, companies simply cannot afford to persist with their existing business practices in this day and age. Maintaining a quality on-line presence is now key to any business in Singapore. It has grown into a fundamental prerequisite which plays such notable part that it could determine whether a company survives or fails.