The Evolution and Expansiveness of the Digital Marketing Industry in Singapore
The digital marketing industry in Singapore has been on a slow upward growth for the past several years possibly due to the insufficiency of skills. However, the situation is improving due to a number of factors. The government has intervened to revitalize the economy to realize the Smart Nation vision by injecting grants, various resources and offering consultancy services. The data analytics sector made a contribution of one billion dollars to the national wealth, a real proof that the industry is gaining positive growth.
In addition, there are at least 2000 data analysts and several thousands of digital marketing professionals thus it is evident digital marketing in Singapore is making great progress.
Adoption of digital technology in Singapore
The development of new tools and technological innovations have changed digital marketing so much.It has affected the way things are done in most areas such as finance, human resource, marketing and many others. It is now not just enough to employ digital marketing but to see how best to carry out things in a digital world.
Nowadays every business in Singapore must equip its staff with the basics of operating in the digital world for it to grow and be profitable. The great strides made by Singapore towards becoming a leader in adopting technology world over should be matched by collaboration between organizations and technology. Although many firms are yet to make big steps to be digital, they are progressing slowly. Singapore boasts of being one of the countries with the widest internet connection and fastest 4G internet across the globe. The island state’s expenditure on the digital ad is still low, at about 15%, while similar sized market such as Australia has their ad spend roughly 43%.
There is hope for digital agencies intending to open shop in Singapore as nearly all brands have gone digital. In this bold move, the small and medium-sized business have not been left out also as almost all of them have on the minimum either a website or a mobile application to promote their businesses. Despite the fact that online shopping is in its early stages, it has begun in a great way having recorded a whopping 3.5 billion dollars worth of sales in 2015.One source attributes more than half of the total online sales done in the entire South East Asia in that year to Singapore and Malaysia. Digital marketing agencies in this island state should focus on how to best serve this increasing population of internet user at this time every other organization and business is slowly adopting digital technology.
The future of digital marketing in Singapore
There are all signs that digital marketing will be among the next big things in Singapore. There are high uptake and development in major digital trends such as SEO and e-commerce. A serious online presence has become each brand’s great concern so as to be felt in the highly competitive market. Internet users all over the island country have also increased tremendously especially among the millennials and the X-generation. Promotion of brands o the various social media sites such as the Facebook and Twitter is another great opportunity for marketers with a good command of English which is widely used in the country. World brands from the US and Europe have also found their way into the Singaporean online market owing to Singaporeans great familiarity with Western media and brands more than other South East Asia nations. These brands have increased the opportunities for digital advertising agencies.
The immense input by the state in digital technology has resulted to the great success that has been witnessed .it is for the organizations and businesses to do all that is needed to have the impact felt all over. They need to equip their personnel with the requisite skills. They also need to be able to tackle various digital marketing aspects-social media marketing, consultancy, media buying and planning and many others. They also need to be on top of their game in handling any new digital technologies.