Online Vs Offline Marketing Singapore
Both online and offline marketing systems in Singapore have experienced considerable changes over the past decade. Brands are switching strategies from the traditional marketing options to digital marketing in a bid to keep up with the changing consumer behaviour attributed to technology.
Singapore is regarded as one of the countries with the highest smartphone penetration. A large segment of its population can thus be reached via the internet and statistics have shown that about 70% of Singaporeans rely on the internet as the main source of information. These changes have been the driving force for the current marketing trends in the country.
Recent marketing research revealed that the retail industry accounts for approximately 4.3% of the total amount spent on ads. However, with the evolving technological trends, the marketing techniques are expected to take significant shifts leading to a broader client base for various companies.
Singapore Marketing Trends
Some of the methods of advertising or raising brand awareness that were effective years ago are indeed losing their value in the current market, while others still yield pleasant results. As technology progresses, consumers' purchasing behaviour and power keep varying. This means that a company must make adjustments in its marketing strategies to reach more prospective buyers. For Singapore, the developments have been as follows;
Increased focus on mobile and social media marketing
A recent report indicated that Singapore has 4 million users who access the internet via mobile devices. The figures could be even higher, given that the country is rated among the nations with the highest smartphone usage. Again there has been a steady upsurge in the purchase of internet-enabled services which translates to more internet users. It is also approximated that more than 3 million individuals are active social media (Facebook, Twitter, Instagram, Snapchat) users.
Consequently, the majority of companies are now redefining their marketing strategies and investing in mobile and social marketing more than before. Mobile advertising offers reach to a broad audience, making it useful in increasing brand awareness and ultimately sales. Greater than half of the Singaporean population are registered users on social media platforms. This makes social media a dependable source of website traffic and quality leads.
Creation of in-house online marketing teams
Singapore has several digital marketing agencies that are pivotal in the success of online marketing in the country. Notwithstanding, companies are becoming more innovative as they shift from outsourcing marketing services to creating internal ad teams. Most of these teams are not independent yet, as they still collaborate with external agencies to develop and execute marketing strategies.
Even though this is a significant milestone, results obtained by the internal marketers are quite low. For example, the quality of traffic from in-house developed ad campaigns is lower compared to those from external marketing agency led campaigns.
Digital marketing agencies, therefore, remain fundamental in online advertising despite the changes.
Development and implementation of new ad ideas
The introduction of ads as a marketing tool revolutionized numerous businesses, even in Singapore. However, the number of direct selling ads has drastically slumped as following the dwindling click through rates attributed to stiffer competition.
As a result, brands are developing unique ad ideas to ensure they get the attention of their target audience despite the fierce competition. Some companies have opted for branded content on the ads to attract visitors. In contrast, others use content created by individuals who have authority in the market to gain credibility and hence more sales.
With millions of Singaporeans relying on online sources for product or service information, running meticulous ad campaigns can boost sales dramatically.
Most brands in Singapore deploy online strategies as the primary mode of marketing. Nonetheless, some offline marketing techniques are still viable and are being used to complement online advertising. They include;
Product donation in support of contests
This strategy is quite effective in promoting local brand awareness. Brands in Singapore have thus resolved to host contests in which they offer various products to participants. Some also provide gift certificates. As a result, such companies have gained comprehensive offline visibility and eventually increased sales which is the goal of every business.
Speaking at events
Events like conferences always offer a brilliant opportunity for companies for marketing their products or services. You, therefore, need to be always on the lookout for professional events related to your business. You can then contact the organizers for a chance to give a speech in case the audience would need your expert knowledge. Utilize the opportunity to share your ideas and enhance your brand awareness.
This term has been used in reference to unconventional marketing strategies which are practised globally till date. They include donating branded merchandise to local organizations like libraries, randomly placing sticky notes in places prospective clients are likely to visit like restaurants or sidewalks chalk advertising. This strategy is quite effective in Singapore.
Similar to other companies worldwide, most Singapore-based brands are still using business cards. Usually, the company executives carry many professionally designed cards to events like conferences and dish them out to target audience. The card should contain important details about the business, including services offered, location, contacts, etc. Other methods of business dissemination that are effective include dropping yours in business cards contest fishbowl or a restaurant.
With the constant change in consumer behaviour attributed to technological advances, online marketing is consistently becoming more superior than traditional marketing strategies. The former has a capacity of reaching a large audience within a short time, making it more effective. Again online marketing cost is meagre in comparison to offline marketing.
Though the two forms of marketing are unique and can be implemented independently, better results will be achieved with a combination. Most companies in Singapore are therefore using offline marketing practices to augment online marketing which is the primary way of increasing brand awareness.