We live in a world where without advertising or marketing your business is dead. You can have a large space in one of the largest malls in Singapore and you still won’t be able to drive walk-ins without online marketing.
It is ubiquitous and it is necessary for business survival.
But what are the marketing channels that work well in the Singapore market? How much do they cost? What does one start off with it?
We answer it all in this piece. Here are the few points we cover in this article
Before you begin, there is one thing you need to understand. Singapore has only 5.6m citizens. This means no matter what you do, you can reach only so many numbers of people.
But there is one underrated aspect of Singapore and that is tourism. In 2017, it was estimated that over 17 million tourists visited the island. This is a big opportunity for advertisers, as tourists are looking to buy products and shop. Marketers and advertisers can take advantage of Facebook and Instagram’s location-based advertising opportunities to target tourists.
SEO is always a hot topic of discussion among business owners because it is the possibility of driving traffic without having to spend money. SEO can be one of the most rewarding and ROI friendly marketing channels in Singapore.
A good SEO company can take your normal business with thousands of traffic and get it to hundreds and thousands in traffic by writing content and doing the traditional things.
For smaller businesses, who want to compete with the bigwigs, SEO is the only marketing channel that has an even playfield. If you write high-quality content, post videos and do your backlinks correctly, you can drive massive amounts of traffic.
|Cost per content (1000 words)||$300|
|Cost for optimization – Monthly package||$50 to $5000 a month|
|Cost per project||$1000 to $5000|
|Cost per hour (Consultants)||$100 to $300 an hour|
Social Media is the darling child of marketers world across because of the cheap cost of advertising and marketing.
Let’s see how each channel does in Singapore.
Facebook has been a much-celebrated platform from a marketing standpoint. But things have changed over the years with Facebook charging users to pay to reach their own audience.
|Ads / Service||Average Cost|
|Cost of Facebook Marketing||$500 to $2000/month|
Facebook Advertising is still big in Singapore in 2020. Although it has lost a bit of it’s importance to Instagram, it’s still a valuable channel for advertising in Singapore. Here are the important statistics around Facebook promotions.
Cost of Hiring a Facebook Agency in Singapore
A Facebook agency would generally offer the following services
These services would set you back by around $1000 a month
Instagram has been the premier social media platform among all channels. It has outgunned Snapchat, Facebook and others. Here is some important Instagram related information for Singapore.
|Ads / Service||Average Cost|
|Cost of Instagram Marketing||$500 to $5000 a month|
Instagram advertising in 2020 is a lot different than the previous years. The channel has grown by leaps and bounds. Here are the important statistics around Instagram promotions.
Here are the services offered by most Instagram Agencies in Singapore.
For these services an agency would charge a minimum of $250 per month
Linkedin is the perfect channel to network and collaborate with other tech-savvy entrepreneurs. Here is how brands use Linkedin marketing in Singapore.
|Ads / Linkedin Marketing||Cost|
|CPM||$7.29 to $8.39|
|Cost of Linkedin Marketing||$200 to $2000 a month|
The cost of hiring a digital marketing agency for all your social media marketing needs will range from $1000 a month up to $20,000 a month(All inclusive service).
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The general opinion is email marketing is on the decline. But email marketing is an underrated medium to garner leads. Here are some salient points about email marketing in Singapore.
The cost of email marketing can be broken down as follows
|Cost per lead||$1|
|Cost for email marketing||$200 to $5,000 a month|
Pay per click is one of the most common forms of advertising that was first introduced by Google. Pay per click is when you get charged for each click through to your website.
The cost of PPC in Singapore is truly dependent on the keywords you are targeting. For example, the insurance space can range from S$10 to S$70. Here are a few other niches.
|Ads / Service||Average Cost|
|CPC on average||$2|
|Cost of Google Adwords Implementation||$1000 to $10000 a month|
Singaporeans are big on shopping and e-commerce platforms like Lazada, Carousell and Qoo10 rule the roost.
ie Lazada, Qoo10, Carousell
Lazada and Qoo10 each has their own cost of marketing. If you have a business account, talk to your account manager to see which marketing promotions fits you. Marketing dollars last from $500-$5k.
As for Carousell, it is dependent on how much are you willing to boost your post via prepaid coins.
Check their FAQ for more info HERE.
Budgeting for a digital marketing campaign is of paramount importance in 2020 for Singapore companies. It is easy to get bogged down and lose track of where you are losing your money. For this reason, it is very important to plan your budget.
The top marketing channels in 2020 are :
Before you begin, you need to split your offline budget from your online budget. Singapore companies spent 50% of the overall budget on online channels.
Say you have a total budget of $10,000 a month, this would be a good split.
Disclaimer: This is a rough estimate that depends on each business. Feel free to reduce and increase the budgets based on your plan.
Youtube is winning the video market. It always was the hub for videos and video marketing and now it is the undisputed king. No channel comes close to Youtube’s view count and viewership. As the video format is the most consumed content on the internet, it makes sense to allocate a $3000 budget to Youtube.
Youtube is the up and coming advertising channel in Singapore. Videos have taken off and it has replaced written content as the go to medium of consumption.
If you are looking to invest in a Youtube advertiser to shoot and edit videos or just do plain animation. Here are the costs.
We live in a world of influencers. The biggest influencers in the world are raking in the money and some are even becoming billionaires in the process (Kylie Jenner). This means most advertisers are using these channels to promote their product.
It doesn’t cost much to create an image post on Instagram, but hiring a micro-influencer will set you back by $1500 per post.
As Instagram has better conversion rates and overall better numbers, we allocated $3000 to Instagram.
As long as Google is still alive, SEO will still be one of the top channels. Content is taking various forms with the likes of GIF’s, Infographics, Short Clips, Slides that are doing well. Good quality content that adds value to the user gets the eyeballs and conversions.
We would allocate a budget of $2000 for pure SEO and content.
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Google is in a big fight with large advertisers like Amazon and Facebook. Google is trying its level best to improve their PPC model and it still is one of the best channels for direct search keywords. We would allocate a budget of $2000 for Google PPC.