10 mins read
According to We Are Social and Hootsuite1, Singapore, with a population of 5.83 million people, has the highest percentage (84%) of Internet users in the world. If you are running a retail or F&B business with GrabPay or GrabFood, digital marketing is the surefire way to reach this huge online audience of at least 4.92 million people.
It is apparent that the average customer starts their buying journey online. So instead of limiting your reach to an offline market, why not use digital marketing to attract potential customers?
1. Social Media Marketing
Tech in Asia3 noted that of the Singapore internet users, 4.8 million people are Facebook users, with 90% accessing the social network on mobile. 94% of businesses on Facebook have also invested in paid ads or sponsored posts at some point, according to a Buffer’s State of Social report4.
For starters, Page Like Ads can help you promote your business and engage with people, increasing the number of likes for your business page. Brand Awareness Ads consisting of engaging content and appealing visuals, can help you reach a wider audience for the purpose of brand recall. Traffic Ads are also great at directing people to your website.
The potential for social media marketing is apparent, with the majority of the Singaporean population responding to Facebook ads. This is why targetting the right audience is crucial to delivering real results for your business.
Selecting the ad type is only half the battle won. Defining your audience will allow your ads to serve their full purpose. For example, a Custom Audience is made up of your existing contacts. A Lookalike Audience lets you reach new people who are similar to your best existing customers while Interest Targeting lets you reach people based on their interest, behaviour and their demographics.
2. Email Marketing
Think about the number of times you open an email sent by your favourite brands versus the number of times you visit their retail or F&B space. As you can imagine, email marketing remains an effective way to communicate with your customers, build relationships and grow your business.
Super Office5 suggested that on average, for every $1 spent on email marketing, you can expect a return on your investment of $51. The ability to access emails on mobile has also given businesses the advantage of using different tactics to reach customers at an opportune time, such as a promotional email during lunch time.
However, a successful email marketing strategy is more than tactics. It involves delivering personalised messages to the relevant audience, in the right place, at the right time. Simply addressing your customers by their names using data collected can increase open rates by 16%. Segmenting your database also helps your emails become more targeted to your audience. With 61% of all marketing emails being opened on mobile, it’s also important that your email campaigns are optimised for mobile devices.
3. Search Engine Marketing
According to Blue Corona6, 93% of online experiences begin with a search engine, while 73% of users never scroll past the first page of search engine results. Since more users are researching online, getting on that first page with search engine marketing is crucial to capture their attention.
A cost-effective type of search engine marketing, paid search marketing matches your ads with users that search for specific keywords. These paid search ads will appear at the top and on the side of search engine results pages (SERP), gaining more visibility than organic search listings, and in turn making it more likely that users will click on them.
For this technique to work, the first thing you need to do is identify relevant keywords to optimise your content for niche audiences. Then, decide where your ad will be displayed on SERP. Finally, choose when you will pay for your ads, whether it’s by link clicks (cost per click) or impressions (cost per mille). If there are no clicks or impressions, there will be no charge!
WordStream7 highlighted that retargeting ads are 76% more likely to be clicked on compared to regular ads. This means that users who have seen your ads and visited your site are more likely to notice you again, giving you the opportunity to convert them into customers. By combining the tactics and solutions above, and focusing on retargeting ads, you can grow your customer base
According to SingFNB8, digital marketing is estimated to grow to $129.23 billion by 2021, with over 4.1 billion people using the Internet. While Statista8 highlighted that as of October 2019, Singapore has spent US$710m on digital marketing, with US$300m spent on search engine marketing.
Although the digital landscape is fast evolving, funding for digital marketing can still be slow to obtain, especially for businesses that are starting out. If you are keen to explore the digital realm but require funding support, consider a Business Loan by GrabFinance to grow your business.
4 min read
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