In most cases, Singaporean businesses are probably oblivious to their customers’ daily dependence on the net. Because of the fact the net allows consumers to obtain products or services in a considerably more straightforward manner, these businesses have a tendency to get left behind over time. Such carelessness means a smaller extent of communicating and a decline of competitive edge.
Implementations of digital media is in most cases more difficult for larger companies that already comfortably participate in traditional processes. Lately, an incident occurred in which a large corporation was suffering from tremendous losses due to a variety of factors. Happily,they had the foresight to use digital marketing which hence kept them from closing down. The company being referred to is household brand name, Ledo.
As one of Singapore’s largest supermarket chains and one of the top brands in the Fast Moving Consumer Goods market, Ledo enjoyed a comparatively successful and comfortable existence. The franchise (more here) was situated in perpetually every street with the competitors being limited to mostly mom and pop establishments. But when July of 2009 rolled around, Ledo realized that it was struggling for certain things.
As a result of the failure to attain market dominance in the Asian, European and Middle Eastern markets, Ledo resorted to hiring a fresh Chief Executive. As with any change in top management, the new Chief Executive gave Ledo a total revamp. This meant enormous prices for Ledo and had an undesirable effect on its cash assets.
Naturally, the clash for market share was raising within the business. Fresh players with an armory of marketing through digital media knowledge were gradually becoming a standard happening. It arrived at to an extent that these stores were emerging at every corner.
All the while, Ledo’s standing as a household name was one of its strong points. This recognition prolonged their shelf life but did not help them maintain investor faithfulness or total patronage. By the year 2013, Ledo’s net earnings had fell by a tenth and their largest shareholders publicly declared that their substantial investment in the FMCG corporation was a “massive error” which set them back nearly half a billion dollars within 12 months.
Making use of Digital Marketing to its fullest
Prior to the implementation of a campaign in digital marketing, Ledo’s on-line reach was limited to a fundamental e commerce site. Yet, this was definitely not sufficient. The company's Chief Executive, who was a firm believer of technology, acknowledged this as an issue and set into motion a strategy in online marketing to preserve Ledo’s edge in the business.
So as to take full advantage of the internal talent at disposal, Ledo’s very first response was to develop an in-house internet marketing agency. This team would then efficiently operate just like a commercial online marketing agency.
Utilizing Content Marketing in the most efficient way possible
Ledo needed to improve sales on its online store. For this to be possible, it would have to go past its dependence on tested and proven traditional marketing (explanation here) means. Hence, they decided on one of the most common and cost-effective techniques, content marketing. Their first step was to launch a microsite dubbed Ledo Fresh Eats as an expansion of their e-store. It focused on encouraging a healthy lifestyle through food and other wholesome approaches.
The informative microsite demonstrates that the new Ledo direction focuses on quality website design and development because it by itself can exist as a valuable online resource for folks shopping around for food. The professional connection between Ledo and the site supports more users to choose Ledo as their on-line market alternative. Individuals are less likely to stop by other online stores when Ledo’s is only a mouse click away from Fresh Eats.
The great usage of social media marketing in business meant that Ledo had to play an active job or risk being left behind. They started to create their official accounts on the more dominant websites, for example Twitter and Pinterest. Creating their own official accounts at these social networks has two obvious advantages. To begin with, it's an easily managed feed of generic advice and marketing related material for their consumers. They went to the extent of creating unique Twitter accounts for each of their sections. Furthermore, distinctive profiles had been set up for a number of subdivisions for example latest deals, bottled drinks, wine beverages et cetera.
Second, it permits them to continue on refining their online brand image. It’s way too common for numerous businesses to lose on this earth because a haphazard customer (or worse, a challenger) established a social media existence inside their name. With zero influence or power over these accounts, it'd be straightforward for an outside party to destroy the image of the company in question. An in-house social media team wouldn't allow such activities to occur under their watch. With advice coming straight from the official source, Ledo will not have to be bothered about what exactly is being disseminated online.
Whilst sales numbers are the chief driver behind a business like Ledo, another crucial but understated brand enhancing component is after sales service. Resolving customer problems is pivotal in securing future sales, as extensive studies have proven. This is where Ledo actually glows.
Ledo has a dedicated Twitter profile to engage with users. Similarly, they have other specialized accounts for promotional purposes too. This results in an obvious connection between the consumer and support with no clutter of marketing related advertisements.
Whatever the company, its customers would undoubtedly choose to speak to real person, than to browse through a web of pre-programmed answers only to have their problems unresolved. This is an effective manner to foster brand loyalty and encourage repeat purchases.
Did it Succeed?
The remodeling of its strategy in digital marketing turned out to be tremendously favorable to Ledo. With reference to various data companies, Ledo has control over almost a third of the marketplace as of last July. The closest competitor was not even close, only managing to get hold of roughly 50% of that. These benefits surely inspired Ledo to further invest into their future success by fine-tuning their strategy in digital marketing. Ledo’s investment in technology including the creation of an innovative cellular program will only increase the avenues to which consumers can reach out to Ledo.
In Summary
Ledo can be used as a case study for many companies. Focusing only on conventional methods of branding and retail to support a business is no longer going to work. Companies must leverage on digital media to consistently engage with customers and ensure their relevance in the digital age. To place it simply: if an industry giant like Ledo can be so badly affected by the absence of an effective online presence, visualize the disastrous effects it will have on a smaller business. Digital mediums have developed into a must-have marketing medium to stay abreast with the times and forgoing it would have disastrous implications for the business in question.
Implementations of digital media is in most cases more difficult for larger companies that already comfortably participate in traditional processes. Lately, an incident occurred in which a large corporation was suffering from tremendous losses due to a variety of factors. Happily,they had the foresight to use digital marketing which hence kept them from closing down. The company being referred to is household brand name, Ledo.
As one of Singapore’s largest supermarket chains and one of the top brands in the Fast Moving Consumer Goods market, Ledo enjoyed a comparatively successful and comfortable existence. The franchise (more here) was situated in perpetually every street with the competitors being limited to mostly mom and pop establishments. But when July of 2009 rolled around, Ledo realized that it was struggling for certain things.
As a result of the failure to attain market dominance in the Asian, European and Middle Eastern markets, Ledo resorted to hiring a fresh Chief Executive. As with any change in top management, the new Chief Executive gave Ledo a total revamp. This meant enormous prices for Ledo and had an undesirable effect on its cash assets.
Naturally, the clash for market share was raising within the business. Fresh players with an armory of marketing through digital media knowledge were gradually becoming a standard happening. It arrived at to an extent that these stores were emerging at every corner.
All the while, Ledo’s standing as a household name was one of its strong points. This recognition prolonged their shelf life but did not help them maintain investor faithfulness or total patronage. By the year 2013, Ledo’s net earnings had fell by a tenth and their largest shareholders publicly declared that their substantial investment in the FMCG corporation was a “massive error” which set them back nearly half a billion dollars within 12 months.
Making use of Digital Marketing to its fullest
Prior to the implementation of a campaign in digital marketing, Ledo’s on-line reach was limited to a fundamental e commerce site. Yet, this was definitely not sufficient. The company's Chief Executive, who was a firm believer of technology, acknowledged this as an issue and set into motion a strategy in online marketing to preserve Ledo’s edge in the business.
So as to take full advantage of the internal talent at disposal, Ledo’s very first response was to develop an in-house internet marketing agency. This team would then efficiently operate just like a commercial online marketing agency.
Utilizing Content Marketing in the most efficient way possible
Ledo needed to improve sales on its online store. For this to be possible, it would have to go past its dependence on tested and proven traditional marketing (explanation here) means. Hence, they decided on one of the most common and cost-effective techniques, content marketing. Their first step was to launch a microsite dubbed Ledo Fresh Eats as an expansion of their e-store. It focused on encouraging a healthy lifestyle through food and other wholesome approaches.
The informative microsite demonstrates that the new Ledo direction focuses on quality website design and development because it by itself can exist as a valuable online resource for folks shopping around for food. The professional connection between Ledo and the site supports more users to choose Ledo as their on-line market alternative. Individuals are less likely to stop by other online stores when Ledo’s is only a mouse click away from Fresh Eats.
The great usage of social media marketing in business meant that Ledo had to play an active job or risk being left behind. They started to create their official accounts on the more dominant websites, for example Twitter and Pinterest. Creating their own official accounts at these social networks has two obvious advantages. To begin with, it's an easily managed feed of generic advice and marketing related material for their consumers. They went to the extent of creating unique Twitter accounts for each of their sections. Furthermore, distinctive profiles had been set up for a number of subdivisions for example latest deals, bottled drinks, wine beverages et cetera.
Second, it permits them to continue on refining their online brand image. It’s way too common for numerous businesses to lose on this earth because a haphazard customer (or worse, a challenger) established a social media existence inside their name. With zero influence or power over these accounts, it'd be straightforward for an outside party to destroy the image of the company in question. An in-house social media team wouldn't allow such activities to occur under their watch. With advice coming straight from the official source, Ledo will not have to be bothered about what exactly is being disseminated online.
Whilst sales numbers are the chief driver behind a business like Ledo, another crucial but understated brand enhancing component is after sales service. Resolving customer problems is pivotal in securing future sales, as extensive studies have proven. This is where Ledo actually glows.
Ledo has a dedicated Twitter profile to engage with users. Similarly, they have other specialized accounts for promotional purposes too. This results in an obvious connection between the consumer and support with no clutter of marketing related advertisements.
Whatever the company, its customers would undoubtedly choose to speak to real person, than to browse through a web of pre-programmed answers only to have their problems unresolved. This is an effective manner to foster brand loyalty and encourage repeat purchases.
Did it Succeed?
The remodeling of its strategy in digital marketing turned out to be tremendously favorable to Ledo. With reference to various data companies, Ledo has control over almost a third of the marketplace as of last July. The closest competitor was not even close, only managing to get hold of roughly 50% of that. These benefits surely inspired Ledo to further invest into their future success by fine-tuning their strategy in digital marketing. Ledo’s investment in technology including the creation of an innovative cellular program will only increase the avenues to which consumers can reach out to Ledo.
In Summary
Ledo can be used as a case study for many companies. Focusing only on conventional methods of branding and retail to support a business is no longer going to work. Companies must leverage on digital media to consistently engage with customers and ensure their relevance in the digital age. To place it simply: if an industry giant like Ledo can be so badly affected by the absence of an effective online presence, visualize the disastrous effects it will have on a smaller business. Digital mediums have developed into a must-have marketing medium to stay abreast with the times and forgoing it would have disastrous implications for the business in question.