The majority of companies did not anticipate the world wide web’s effect on people. These companies fell back even further as internet adoption hastened as a result of lower costs and greater accessibility. They’re struggling to capitalize on this trend to extend their marketing reach and maintain a lasting advantage in the industry.
The usage of digital media is in many cases more challenging for bigger businesses that are too comfortably participate in traditional procedures. One such organization was suffering from huge loss of market share. It’s good to know though that they considered their internet marketing choices to prevent having to fold. You might have heard of the multi-national grocer, Lisner. A giant in the Singaporean Consumer Goods marketplace, Lisner was known as one of many biggest and most highly regarded grocers with acceptable popularity. The franchise was located in perpetually every street with the competition being limited to largely mom and pop establishments. Despite such dominance, Lisner was struggling with enormous difficulties towards the end of 2012.
A Restructuring Plan that Fully Embraced Technology
First issues arose with an extensive company restructuring plan that was put into motion by a newly hired CEO. This was the result of a failed attempt to broaden their reach across Europe and Asia. Also, the false notion that out-of-town shopping spots were dropping in popularity came into play. Rapid growth of challengers Sage and Apidaze was the next big obstacle. These business rookies happened to be more technologically inclined with fresh marketing and advertising ideas. They were able to increase their market stronghold by focusing on highly specialized sections of the industry. No matter whether a consumer was budget or quality conscious, there was an appropriate store close by to meet that person’s conditions.
There was also a remarkable shift in the behaviours of consumers, where price preceded brand loyalty. Customers reduced their spending at the retailer, and this reduction was very distinct in its books. As a result of a substantial drop in profits, the major investors collectively lost close to half a billion of their capital in 2013 – picture the degree of heated exchanges amongst the top management!
Previously, Lisner’s online existence was restricted to an ecommerce website. Yet, this was far from sufficient. The corporation’s CEO, being a firm believer of technology, recognized this as being an issue and set into motion a digital marketing strategy to preserve Lisner’s edge in the industry.
Getting the Help of a Digital Agency
The brand revamp procedure started out with the creation of a central digital marketing team within Lisner. The objective was to merge the various aspects that formed Lisner’s strategy in digital marketing to produce a strong unified message. Having said that, it was exceptionally difficult to sustain the plan by just expanding the internal team organically. It reached the conclusion that employing a marketing agency with capabilities in digital media was critical in sustaining its online campaign.
To reinforce their online marketing arm, they need to attract more people to their e-commerce stores. While traditional advertising approaches are still effective, it is no longer cost effective when there are digital choices. Depending upon a tried and tested instrument, Lisner’s marketing team opted to utilize the highly lucrative approach referred to as content marketing. By altering their online store design like introducing a Varieties button, Lisner got to redirect users to a special website called “Lisner Varieties”. The website contains food-related content like common recipes, motivational articles, and health-related posts that are related to food.
The site grew to become an impartial source of beneficial information for its visitors, showing a shift in Lisner’s website design and development emphasis. Due to the fact that it’s associated with Lisner as a brand, it helps enhance customer loyalty while quietly convincing folks to shop more at their online grocery store. Consumers are likelier to visit the linked website instead of steering to another on-line retailer whilst on the Varieties website.
Another element that was utilized in their overall plan was marketing through social media. They didn’t necessitate an independent agency specializing in social media as they’d sufficient manpower to manage the first project by themselves. To begin with, Lisner made the right move by creating their own official social media accounts. Creating accounts at these social networking sites has two obvious advantages. To begin with, it acts as an avenue to spread worthwhile advice like promotions to the target consumers. A specialized Twitter handle was even created for just about every division. Each accounts then provides offer and promotional upgrades to customers who have an interest in those special departments just.
The second way is that Lisner is able to keep greater influence over its brand image online. A dissatisfied shopper or perhaps a challenger could really effortlessly harm a company’s social media standing by creating a fake page. Since they had zero control over these third party accounts, it was simple for their standing to get damaged in case the owner posted pictures that would be damaging to the business. With an in-house social media agency, all information would be completely vetted and controlled. Now that Lisner is the official channel for all brand information, the business is protected from such undesirable situations.
Customer care is crucial in reinforcing customer relationships. The community’s entire opinion can be substantially swayed through the quality of their customer service department. Lisner provides a perfect template for others to follow. When compared with other businesses which just have one single social media account to deal with complaints and promotional offerings, Lisner has gone a step farther to create unique accounts for each. In so doing, customers would have the ability to receive the advice they want – be it a response to a difficulty, or remaining up to date about the newest promos – without being swarmed with unnecessary clutter.
What Do Customers Want Beyond the Product or Service they Paid For?
At the end of the day, customers of any business need to feel valued; the first step to achieving this is to have a “live” man talking to them and handling their issues, rather than computer generated answers which farther space the company and its customers. This is a powerful manner to foster loyalty to the brand and encourage repeat business. A well planned digital marketing strategy on Lisner’s component brought about actual results: consolidated data from various sources pointed to Lisner procuring nearly a third of the market share, while the closest challenger held on to half of that number. It was undoubtedly something the top management could shout about to the board and its shareholders.
With its new digital marketing strategy, Lisner’s future appears to a prosperous one. They are in position to take full advantage of their investments into the digital world – a mobile app is said to be in the pipeline. This is a lot more than what traditional design and development of a website can hope to reach.
We’re left with quite a few crucial lessons from the Lisner example. First and foremost, it is not possible to be totally reassured of your position within an industry, especially in the digital age. Digital and social media marketing has flattened the arena to the stage where new startups can grab the market share of a market giant that has been complacent with its place.
Most Important Takeaway
To place things into perspective: if a business giant for example Lisner can be so badly affected by the absence of an effective on-line presence, visualize the disastrous consequences it will have upon a smaller corporation. To remain competitive, companies want digital media to simply survive in the cut throat businesses they are operating in.