Combating Rising Operating Costs with Online Media
Since the dawn of the 20th century, most local Singaporean enterprises have not truly comprehended the dynamism of the web upon the day-to-day lives of its consumers. These firms lagged even farther as internet usage accelerated as a result of lower costs and greater accessibility. They were unable to employ this new medium to expand their business. Big organizations had fantastic inertia and couldn’t move to digital media fast. There was a recent case where a once powerful multi-national company was experiencing an awful hourly loss.
Fortunately for them, they took a daring step towards internet marketing and managed to turn their fortunes approximately. This company is none apart from Genoza. Many years back, Genoza was standing as a leader in the retail market – thanks to locations nationwide with minimal industry opposition. These days, due to unforeseen circumstances, Genoza’s dominance in the market is rapidly going downhill.
Immense Operating Costs
The initial bump in the road emerged as a result of the substantial expenditures brought on by the new Chief Executive Officer’s restructuring plan. Genoza needed a brand new one as it was unsuccessful in developing the European and Asian markets.
In Singapore, sub urban shopping malls where Genoza shops were usually found, were additionally becoming less popular. Despite the fact that a decrease in visitor traffic would undoubtedly worry the supermarket chain, it was Dosay and Accent that became its biggest nightmare. These upstart retailers are knowledgeable with newer promotion venues. They could increase their market stronghold by aiming for highly specialized sections of the industry. No matter whether a consumer was budget or quality conscious, there was bound to be a suitable retailer close by to meet that person’s requirements.
Genoza’s advantages during that stage comprise physical presence and brand equity. This recognition prolonged their shelf life but failed to help them sustain investor devotion or overall patronage. As Genoza’s declines were simply growing, financial backers began to regret sinking over 410 million dollars into the company over past years.
Leveraging on Online Media
Around then, Genoza’s online store was its only on-line presence. It was totally working and functional, but the changing competitive landscape meant that radical changes to it was demanded; the new Chief Executive Officer, who was a powerful promoter of technology, was appointed just for this task – to revamp and invigorate Genoza’s online existence.
So as to take advantage of the existing expertise at disposal, Genoza’s initial response was to put together an in house internet marketing agency. By harvesting their outstanding innate talent, Genoza seeked to release the full potential of their team as an alternative for a digital agency.
The latest norm for companies now is to get more done with significantly less; in Genoza’s situation, it must raise its online store sales utilizing the most cost-effective approach possible. The greatest approach to deliver to expectations was to maximize the potential of content marketing and dominate the e-commerce channel.
Providing Great Recommendations to Customers
A particular Recommendations link was included within their online grocery store which brought users to a “Genoza Recommendations” site. This became a microsite created to host and provide wellness-oriented content, such as recipes and motivational posts to encourage appropriate eating and diets. The microsite illustrates that by engaging in proper the design and development of a website, they are able to be a genuine asset to shoppers. Since it’s associated with Genoza as a brand, it helps boost customer loyalty while subtly persuading people to shop more at their on-line supermarket. Folks are less inclined to check out competing online stores when Genoza’s is only a mouse click away from Genoza Recommendations.
The snowball effect of social media in business meant that Genoza had to play an active job or risk being left behind. So aside from the use of branded content, Genoza implemented social media marketing into the existing plan which comprised platforms such as Facebook, Twitter, and Google which were managed by their in house team. Direct administration of these social accounts gave Genoza the capability to circulate their marketing campaigns and promotions whenever they were finalized. This spectacular speed to market meant that customers were constantly exposed to the most recent offerings from Genoza.
More significantly, Genoza kept complete control over their online brand image. Opponents could easily and discreetly create a bogus account to spread false info about Genoza and pass on incorrect information about its products. By having full control over its accounts, Genoza could be relied upon to supply confirmed information via the official social channels.
Customers are the lifeblood of any company; what many fail to recognize is that, post-sales support plays a crucial role in enriching brand devotion. Responding to customer concerns and working together to solve the dilemma is a fundamental part of growing loyalty to the brand thus resulting in repeat purchases. This is where Genoza really beams.
In an effort to boost productivity, Genoza dedicated a Google profile specifically to connect with users while a different one was used to share specific info on offers and specials. This results in a clear channel between the consumer and after sales support without the jumble of marketing related promotions.
Special coaching is supplied towards the Genoza After-sales Support department on the most tactful approaches to interact with consumers. A happy and down-to-earth manner is recommended while being helpful and handling concerns promptly. Users feel more confident of the brand when the answers are true and personalized in contrast to cold computer generated answers.
The remodeling of its digital marketing strategy proved to be extremely advantageous to Genoza. Stats obtained from around the mid of the past year demonstrates Genoza has control over a third of the market share. This would be nearly double the share of the second biggest supermarket business that currently controls less than a quarter. With its new strategy in digital marketing, Genoza’s future seems to a prosperous one. Through the development of more on-line content and even mobile apps, Genoza’s commitment to technology is their springboard to success. This is more than what traditional design and development of a website can hope to reach.
Genoza’s instance offers many lessons. First of all, the digital age disrupts and shakes all organizations, irrespective of how established they might be. Every player in the market can use digital marketing and social media marketing to expand its reach and compete head on with giants on an identical stage. To place things into perspective: if an industry giant for example Genoza can be so badly affected by the absence of an effective on-line presence, envision the damaging consequences it will have upon a smaller company. To stay competitive, businesses want digital media to simply sustain themselves in the cutthroat industries that they are operating in.