The exponential rise of the Internet together with the varied day-to-day applications have resulted in many industries being left unprepared. A growing number of local companies are struggling to outperform their more technologically savvy adversaries through the unknown internet marketing platform. On the other hand, certain businesses that decided to participate in digital marketing stood to receive superior results. Their user base expanded, and consisted loyal customers more compelled to provide repeat business.
Some Recognized the Absolute Effectiveness of Digital Media
These firms knew that online marketing was very efficient and kept it as a valuable weapon within their arsenal. There have been instances where businesses already on the brink of closing down were able to make a comeback by using a well thought-out and well executed effort done by a marketing agency specializing in digital media. Multi-national grocery store chain Memido would be a prime example.
Prior to 2015, Memido – with its many shops and low competitive danger – was a marketplace leader in the Fast Moving Consumer Goods (FMCG) industry. Then, in a turn of events, Memido faced unexpected challenges that threw it off balance in the industry.
A New Chief that had a Different Direction
The hiring and its affiliated costs of hiring a new Chief Executive was the first problem. The previous CEO, unable to get a hold of the European and Asian marketplaces efficiently, was fired and replaced by the new one. Memido’s difficulties did not end there; it further exacerbated with Sonos and Tastd entering in the fray. Both businesses picked up specific parts of the market, which Memido had neglected, that were ripe for milking profits. Apart from battling it out on the retail floor, marketing through a variety of digital channels became an integral part of their arsenal of weapons which greatly leveled the playing field when it came to fighting it out with the established businesses on the web.
During then, Memido’s edge was in its comprehensive physical reach and a good reputation. It took a huge hit, as shown by a 10% fall in its gains within several months. By the start of year 2016, Memido’s revenue had fallen by a tenth and their key investors publicly acknowledged that their considerable investment in the supermarket chain was a “huge blunder” which cost them over $511m in a year’s time.
Using Digital Marketing to its fullest
Before the implementation of a digital marketing campaign, Memido’s online reach was limited to a basic e-commerce site. Though functional, much more was necessary – the company was in urgent of a complete digital marketing strategy, and the new CEO, being well-versed in technology, was appointed to envision, drive and implement this strategy for Memido’s survival.
Past a certain point, they decided the one and only solution was to engage a specialized digital marketing agency equipped to tend to all their online interests. Soon after evaluating numerous potential partners, they ultimately came to a decision. The competence to grow and maintain tasks throughout different digital platforms was the most important element that they sought out in the chosen company.
Over time, the efficacy of digital media caused conventional advertising budgets to be cut and redirected towards online motives. The first and most obvious job was to raise the revenue of their online store. Using this strategy, Memido expected to drive more web traffic to its store, so raising its sales and profitability.
Substantial Improvements Made to the Online Store
By improving the UI and UX of their online store and improving its overall structure, Memido was able to direct customers to a microsite dubbed “Memido Delights”. The website includes food-related content like recipes, inspirational articles, and health-related posts that pertain to food.
In essence, Memido uses the microsite to strategically and casually spread relevant advice to prospective customers. That said, it is also very simple for users to connect to the main website, since hyperlinks to it are abound. By executing a superb user journey during the creation of the website, Memido was able to connect its products with health focused buying habits. When the design and development of a website is well executed, it makes it quite suitable for customers to get to where they need, quickly. This strategy offers them convenience, so they’re less inclined to buy from other web stores when Memido is so readily reachable.
The existence of social media meant that Memido would have to be there also or risk being left out. So, aside from content marketing, Memido also used social media marketing – growing their reach on Facebook, Twitter, Pinterest, and Google – which was managed by their corporate communications team.
Direct management of these social networking accounts meant that Memido could broadcast their promotional messages as and when they were finalized. In this fashion, customers always receive the most recent advice on the exciting in-store promotions. Since Memido controlled the social media accounts, it would be able to exert its control over the correctness of info. There is very little obstacle – and an excessive amount of vested interest – for any person evil enough to sign up for fraudulent accounts to assault the supermarket giant. Through internal oversight and control of their social media accounts, Memido is able to accurately depict themselves and prevent illegitimate claims on their page.
Establishing Excellent Online Support
Customer support does play probably the most critical role in improving customer faith in the brand. Many people’s opinion of a company hinges on customer support reliability and helpfulness. In this area, it can be declared that Memido is exemplary.
Memido has a special Facebook account to connect with customers. On a similar note, they have several other dedicated profiles for Memido promotions as well. This translates to a clear connection between the consumer and support without the jumble of sales communications.
Essentially, direct and personalized answers to queries make customers feel genuinely cared for. This begins by nurturing a team that handles customers on a personal level, answering their questions and solving problems in a nice and helpful fashion. A firm that is viewed as being customer focused and proactive in resolving issues would encourage customers in general to shell out more with it than at their competitors.
Various sources showed that Memido’s well executed strategy in digital marketing paid off immensely. Memido commanded nearly one third of the share of the market while the next challenger only managed to retain half of that. It was definitely something that the management team could shout about to the board and its shareholders. With this new strategy in digital marketing, Memido’s reach and overall potential has increased significantly. With the development of more online content and even mobile uses, Memido’s commitment to technology is their secret formula for success. By simply breaking the barriers that restrict website design and development, this mobile application has far better potential to reach out to an extensive number of potential customers.
We are able to learn a lot from Memido. To start with, it is no longer a given to depend only on branding and physical shop coverage to ensure success. Also, firms must utilize digital media to proactively reach out to customers and ensure their relevance in the digital age.
Should we make a comparison: if an industry giant like Memido can be so badly hit by the absence of an effective on-line presence, imagine the disastrous effects it will have on a smaller business. Whether or not to embrace digital media is no longer an option that one has, as it may have been in yesteryears – it’s an important approach towards business expansion and success.