Best Marketing Strategy in Singapore for SME Retail Business
Best marketing strategy in Singapore for Small and Medium Enterprise Retail Business.
In Singapore, we use so many different types of social media as a smart country thus as business owners/marketing executive one of the greatest struggle is coming out with the best marketing strategy that ultimately converts in sales. Today, I would like to share my insight and at the end of this article, I hope that you will be able increase your understanding of which marketing tactics would be the most cost efficient and effective for your business. Let’s start by understanding our users.
1. Singapore User Behavior (to decide which platform to use, lets look at some deciding factors) Best marketing strategy in Singapore.
Find out more about digital trends in Singapore – https://www.slideshare.net/wearesocial/digital-in-2018-in-singapore-86861961
The most effective way to market to audience in Singapore: Online , Digital Marketing
Highest traffic on used website and social media platform: Google search engine, Youtube, Facebook
Heavily used social media platform: Whatsapp, Youtube and Facebook
Therefore, we can conclude that the most strategic and effective way to reach audience in Singapore online would be through
– Google Search Engine, Google Maps and Facebook
– People decide where they want to go through Google search engine like “best ayam penyet in singapore” or through Facebook post of business that interest them.
*Why I didn’t include whatsapp: Due to only direct contact, Singapore PDPA law, Privacy issue
2. The cost and effectiveness of the current marketing strategy available in the market
Instead of listing out all everything, I will list the top most effective and common methods of digital marketing strategy
Most common marketing strategy used in Singapore – Hiring Digital Marketer
Cost: Full time ( $1500 – $4000 per month + advertisement cost )
Effectiveness: This is a good and stable option as long as you can afford it as he/she will need to who really understand the business and is there to take photos and creating marketing campaign, I wouldn’t recommend getting freelancer / part-timer would not effective. Do note that you will still need to have a marketing/advertisement budgets after hiring them.
Most effective marketing strategy used in Singapore – Targeted Facebook Advertisements and SEO ( search engine optimization )
Cost: Facebook Ads $300 to $1500++ , Search Engine Marketing Ads – $250 – $2000++
Effectiveness: Advertisement is good and effective as long as you target the right audience with the right message, then again you will still need to think of the campaign to attract people and it is a one time boost which doesn’t stay. The only one that stays there for a long time is SEO Blogs by Bloggers, that would be the best bet on cost and effectiveness.
Most effective-effiencent marketing strategy used in Singapore – Hiring Viral Blogger / Video Content Blogger
Example: Ladyironchef, Thesmartlocal, Xia Xue, Goodyfeed, Etc
Cost: $1000-$5000 one-time
Effectiveness: This is perhaps one of the best marketing strategy you could employ as you’re tapping on existing audience and a 3rd party as recommendation. The effectiveness is good, as long as, the blogger have enough influencing factors and had a good experience that makes people wants to try it. Unless the blogger knows how to do SEO on their blogs which most do not, this is usually a one-time advertisement.
3. In order to have the best marketing strategy you will require an integrated marketing plan
Above are screenshots proof of an effective marketing strategy executed
This is usually done by digital marketing professionals that would cost $3500-$7000 per month to hire and execution. Here is what is required from a small business in order to market themselves successfully in order to funnel down the audience to be converted into sales.
- Gain Facebook Likes to for audience to stay updated
- To be blogged about to show their business uniqueness for others to go to them.
- Get to the front page of Google Search Ranking for keywords that they are related, will last and not just one time thing like advertisements
- Loyalty Rewards for First time / Existing Customer
- Get Google Maps Rating and Reviews for their business
- Increase Positive Review in the blogs
- Receive Feedback from customers who did not enjoyed the business so they could improve
- Facebook post of their business that people shares about
- First time experience discount promotion that will get people to try out their business
- Positive experience for people to share about with their friends.
Well, as complicated as this is, this is usually how one decides whether or not they would like to be a customer. This is especially important if you mainly rely on walk-ins, located at some random place with low amount of foot traffic or simply just a newly open. We strongly recommend you to work your marketing strategy online, as it is the lowest cost with the highest reach. Keep in mind to emphasis on the unique selling point compared to others on the market and get your niche audience. Here at Spinages, we have come out with the best marketing strategy and a win-win solution that could let you have a taste of a boost for your business marketing awareness and sales at a cost effective rate.
Give us 30 minutes to share it with you on how we could hit the points mentioned above to create the best marketing strategy for your business. If you think that it is a well suited strategy for your business, let’s move forward with this. If not, we are happy to make new friends around Singapore, after all, we are all about the experience!
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