A study conducted by We are Social and Hootsuite states that 84 per cent of Singapore’s population are internet users. Seventy-five per cent of the population also actively access social media through their mobile phones, with Instagram and Snapchat being the top social networks used. Singapore is also one of the nations with the highest average internet speed, based on a 2017 study by Statista.
With the high degree of internet penetration in the city, businesses can leverage online marketing services in Singapore to market their products and services through websites and social media. Given how many Singaporeans are online and consume content on a daily basis, there is a vast opportunity for brands to reach more customers.
Leveraging opportunities online
Currently, online advertising represents 14.7 per cent of the total advertising expenditure in Singapore. This is a very small number, compared with Japan at 25.9 per cent and China’s 53.6 per cent.
One way for businesses to promote their brands is through maximising mobile video. With the current number of Singaporeans accessing social media through their mobile devices, brands have the opportunity to come up with engaging video content that their audiences can share on their private networks. Businesses also need to approach each platform individually, to make sure that the content produced mixes seamlessly with user-populated social feeds.
With the resurgence of live streaming, small businesses can capitalise on this trend by offering live bidding sessions for items, which has the potential to increase viewers and engagements.
More businesses are increasing their efforts to keep up with the marketing demand, which means more competition for eyeballs and attention span.
Social media, in particular, is useful in helping any business grow its potential customers and clients because of how easily accessible the market is. There is a vast room for growth to harness the internet to market the products and services of businesses.