In Singapore, many firms did not realize the deep impact the web has on the people. These businesses lagged even further as internet adoption accelerated due to lower costs and greater availability. In many ways, these companies are handicapped hence unable to expand their influence to retain any competitive advantage they may now hold.
The real winners were businesses that had a compelling strategy in digital marketing, developed either internally or by means of collaboration with a digital marketing agency. Their customer base enlarged, and comprised customers more compelled to provide repeat business. Digital marketing has proven itself to be a formidable tool for companies. There have been cases where businesses already on the brink of folding were able to recover by using a well thought-out and perfectly-executed campaign by a digital agency. An example of this is market titan Lucent.
As one of Singapore’s largest supermarket chains and one of the major names in the Fast Moving Consumer Goods market, Lucent enjoyed a relatively successful and comfortable existence. Their shops were typically found in virtually every major community, challenged only by small sundry shops. But when 2015 arrived, Lucent found itself fighting for several things.
Problems they faced
When the previous CEO did not make Lucent successful in Europe and Asia, the Lucent board made a decision to engage a new CEO. Due to the hiring of any top executive, quite a few practices and procedures needed modification. The corporate remodeling raked up some substantial expenditures that undermined Lucent’s cashflow.
An additional problem is the perceived drop of out of town malls in Singapore. Likely the most severe of these difficulties was the accelerated expansion of new startups GTP and Fastside. These two competitors embraced technology to a fantastic extent. They effectively took control of a distinct audience consequently gaining a foothold in the marketplace. German possessed GTP brought the cost aware group of customers whilst the brand conscious crowd were mostly brought towards Fastside.
During this time, Lucent’s standing as a household name was amongst its strong points. But the branding can only stave off failure, and it did’t stop them from losing investor loyalty. By 2015, Lucent’s revenue had plunged by 10% and their high profile investors publicly admitted that their 4.1% investment in the grocery chain was a “huge mistake” which resulted in them over $465m in a year’s time.
Utilizing Digital Media to its greatest extent
Formerly, Lucent’s on-line presence was restricted to an e-commerce set up. However, this was far from sufficient. The firm’s Chief Executive Officer, who was a firm believer of technology, acknowledged this as being an issue and kickstarted a digital marketing strategy to sustain Lucent’s advantage in the business.
Tapping on the expertise of a Digital Marketing Agency
Lucent’s brainchild was to leverage on the knowledge of a marketing agency with digital capabilities to expand their on-line interests. Future agencies were thoroughly studied before a choice was made. They selected a digital agency that was able to disseminate the Lucent message through various digital channels.
Generating Website Traffic And Attracting New Business Via Content Marketing
Lucent needed to enhance its online store sales quickly. Boosting the sales figures of the e commerce site was the key objective at hand. Using this approach, Lucent expected to bring more traffic to its shop, consequently increasing its sales and profitability.
Within Lucent’s online store, there’s a “Wellness” item in the main menu which brings visitors to “Lucent Wellness”. Content for example recipes, food preparation techniques, wellness posts and motivational stories filled the pages of the Wellness website.
The informative microsite proves that the new Lucent direction focuses on quality website design because it by alone can exist as a useful online resource for folks hunting for food. Additionally, this site is closely connected with Lucent’s main website, which strengthens the association between it and the brand. This also assists in influencing customers subconsciously and directing them to purchase more at Lucent’s online shop.
Building a Social Media Presence
The prevalence of social media meant that Lucent would have to be there too or possibly get left behind. So, besides content marketing, Lucent also used social media marketing – increasing their influence on Facebook, Twitter, Pinterest, and Google – which was managed by their marketing team.
Direct direction of these social media accounts gave Lucent the capability to circulate their promotional messages as and when they were finalized. This amazing speed to market meant that consumers were always exposed to the newest products from Lucent.
Above all, the priority is for Lucent to keep total control over any messages being sent out over the web. There’s very little impediment – and too much vested interest – for any person evil enough to sign up for fraudulent accounts to attack the supermarket giant. The creation of an official accounts instantly puts a stop to this danger and functions as a dependable source of information.
Providing Outstanding Support Online
Whilst sales amounts are the main driver behind a business like Lucent, another crucial but understated brand accentuating component is after sales service. Resolving customer issues and maintaining relationships are crucial to growing a loyal consumer base. This is where Lucent actually beams.
Lucent has a dedicated Twitter account to interact with customers. Similarly, it’s got other specialized accounts for sales related activities as well. This means the customer care account is not cluttered with sales pitches or unrelated conversations. If users would like to communicate with support, they know where to go and what to anticipate.
Above all, customers of any business need to feel valued; the first step to achieving this is to have a “live” person talking to them and handling their problems, rather than pre-written answers which farther space the business and its customers. This will, undoubtedly, bring the customers nearer and compel them to splash out more at a later stage.
Lucent’s strategy in digital marketing is benefiting them greatly as they now control the biggest market share of supermarkets in Singapore. Data gathered from July of last year demonstrates Lucent has control over a quarter of the market share. The closest competitor was lagging very far behind, only managing to get hold of roughly 50% of that.
This highly encouraging result acts to only further strengthen Lucent’s faith in a digital marketing strategy. In conjunction with the development and launch of mobile apps, it makes it even simpler for consumers to buy and engage Lucent than what traditional means – such as designing and developing of a basic website – would ever expect to achieve.
Lucent can be used as a case study for many businesses. Focusing only on traditional approaches of branding and retail to support a company is not going to work. Undeniably, any business that aims to remain competitive in the digital era requires a superior digital strategy.
Lucent has illustrated that even a large, established business like itself must continue to innovate and leverage on the latest technology to its favor. Digital mediums have progressed into a non-optional marketing instrument to stay up-to-date with the times and leaving it on the backburner would have devastating effects for the business in question.