Introducing your product in the market, especially a market that has stiff competition, has always been a challenging process. It is in such situations that a strong online presence will make your brand stand out from your competition.
Online marketing in Singapore can generate high profit-margins as Singapore has one of the highest internet literate populations in the world.
Growing digital marketing statistics suggests that companies are flocking to cyber markets in order to take advantage of the growing concentration of people on online platforms.
If these numbers are anything to go by, entrepreneurs should brave their fears of the digital unknown and embrace online marketing. The lucrative possibilities will be well worth it.
Did you Know the power of online marketing in Singapore?
Out of the total population of 5.83 million, 5.42 million Singaporeans are actively using the internet. That is an astounding internet penetration of 93%!
The internet has become an extremely powerful to engage Singaporeans. It has also become a very big market place for businesses.
According to Hootsuite, 3 in 4 Singaporeans have bought something online before.
Of those, 73% of shoppers have bought items from overseas websites.
With so many purchases being made online, it is imperative for the successful business owner to engage in digital marketing strategy.
Why Develop Digital Marketing Strategy?
It is cost effective.
Take note, it is not cheap. There is a big difference.
Most businesses struggle with capitalization and getting adequate funding. With the benefit of technology, you are able to market to a specific target audience. This reduces wastage of marketing to the irrelevant masses that traditional advertising incurs.
A Digital Marketing Spend Report found that up to 40% of respondents claimed to have saved considerably in marketing due to online channels
Cater to the mobile consumer
Without a doubt, the mobile phone has evolved from a simple voice communication device into an alternative gadget to the home computer.
Smartphones have transformed the way users surf the internet and make online purchases. 53% of internet traffic currently comes from mobile devices. The trend has been steadily growing.
Just look around when you are next out in a restaurant or taking the MRT. What are most people doing? That’s right, they are staring at their mobile phones and surfing!
Therefore, this is the best time to run digital marketing campaigns that target the mobile consumer. Doing so can lead to the rapid expansion of your business.
Build brand reputation
Brand building is a key element in building a business. Hence, the ability to reach a large target audience should be central in building your brand reputation.
Attracting targeted traffic is the forte of Digital Marketing.
Through various internet marketing channels, you can build brand awareness; letting your potential customers know what you stand for. You can solidify your brand position within your industry in this way.
Online marketing also serves to develop a relationship with your clients as you share your brand message and information about your product.
This is the current buzzword. The major goal for any form of marketing is to spread content rapidly. The internet was built to share information quickly and is the perfect conduit to do just that!
Internet users share content via social media, forums, blogs etc.
Concentrate on creating and posting interesting, relevant content that helps solve problems in an entertaining way. When done correctly, it will resonate with your customers and they will spread your message for you as they share it with others.
Mental Building Blocks of Top Online Marketers
Online marketers are experts in not only the technical aspects of using internet marketing tools, they also understand the psychology of customers. They are specialists in marketing who are using the internet to their advantage. Below is some advice from them.
• Focus on Your Customers – Without customers, your business will be stagnant. Treat your customers like partners. Build a marketing strategy around them and be sure to meet their needs and demands.
• Building a Marketing Framework – Think terms of developing growth frameworks that position your marketing strategy into an ROI-positive revenue engine. Leverage tracking data and metrics to come up with a stable revenue stream.
• Conversion Rate Optimization – CRO refers to attaining the highest rate of achieving your campaign goals. This can be acquiring new leads, getting registrations to your event, making a sale, getting new shares, getting referrals etc. CRO in its various combined forms leads to your ultimate business goals of higher revenue and profit.
• Acquire traffic– Even the best web storefront or product will fall flat on its face if you do not have high demand traffic being channeled to your website. Your online marketing endeavours must develop traffic acquisition frameworks to pull (and push) visitors to your sales funnel.
• Paid advertising – This refers to using online ads in your marketing strategy to gain traffic. Many business owners shy away from this technique because it costs money. But a highly refined pay per click (PPC) campaign can give you very high ROI.
• Search Engine Optimization – Implement SEO strategy to ensure that your website ranks at the top of the search engine result page. 93% of research begins via a search on search engines. A high rank on Google results in a high volume of organic traffic to your website. This channels high intent customers to your sales funnel.
• Content marketing – This involves creating posts, articles, guides, videos, memes, images, webinars etc to communicate with your potential customers and existing clients. Maintain high quality and focus on building trust. Capture campaign metrics and make data driven decisions. This will help you create more high ROI generating content.
• Social Media strategy – Most web users in Singapore have social media accounts; making social media an extremely powerful customer engagement tool and internet traffic driver. Identify which platforms your customers spend their time on and focus your efforts there.
Partnering with a Digital Agency
Singaporeans are an amazingly well connected people. Online marketing in Singapore allows you to interact with this vast audience. Develop your own online marketing strategy and tap this large potential customer base.
While extremely powerful, learning how to execute online marketing in Singapore well is a time consuming and expensive task. Gaining experience to do it well is even more so.
It is advisable for business owners to partner with professional digital marketers to develop and execute digital marketing strategies to maximize their online profit potential.
• increased online visibility
• gaining a measurable ROI
• data collection and analytics
• leveraging professional external skills
• full support from a team of digital marketing experts
• access to specialized marketing tools which you might not have heard of
• access to knowledge of high ROI online marketing trends
• ensuring you obtain significant growth in market share
• Save time & money.
Not only will it save you time incurred by carrying out the marketing yourself via trial and error. Optimised online marketing will help you get the most out of your marketing budgets.
If you are excited about the vast possibilities of making your business presence felt online and are keen to engage professionals to help you expand your reach, contact Blazing Conversions for a discussion.