Marketing Budgets in Singapore on an Upswing in 2011

The majority of survey respondents (52%) in Singapore have seen an increase in their overall marketing budgets for 2011. The increase is largely driven by new media initiatives with 66% of all respondents attesting that their marketing budgets for social and interactive digital media have increased as compared to last year, finds the annual State of Marketing Singapore Industry Report 2011 conducted by GetIT Comms and the Singapore Infocomm Technology Federation (SiTF).

 

“From the budget distribution and social media marketing effectiveness standpoint, this year’s results continue to indicate that most respondents comprehend the changing marketing landscape and are willing to commit higher budgets for social and interactive digital media. A whopping 83% of the survey respondents agreed that social media is effective for marketing. In addition to brand and product awareness, social media marketing is now also being looked at as the ideal platform for lead/demand generation, lead nurturing and showcasing thought leadership – a very exciting prospect for marketers,” says Anol Bhattacharya, Director and CEO, GetIT Comms.

 

Close to 66% of respondents attest that their marketing budgets for social and  interactive digital media have increased as opposed to 43% in 2010.

 

A significant amount of respondents (83%) said that their web presence is primarily aimed at providing information and news about the company.

 

It is noteworthy, however, that almost 70% of companies also leverage their web  presence for sales generation.

 

Social media continues to be a key driver for this change indicating that a majority of companies have embraced progressive uses for their web presence and are keen on getting more value from it.

 

Facebook still reigns supreme in Singapore with 65% reporting that they are primarily active on it. The results also indicate an almost 23% growth for the social media giant compared to last year. Twitter (42%) has snatched second place from LinkedIn and blogs.

 

With video becoming a stronger platform in light of the improving quality of Internet speed and access, YouTube has jumped to third place with 38%. Usage of blogs as a medium stands at 34%.

 

Leading uses of social media include lead generation (43%), brand awareness (63%), product awareness (57%), customer engagement (42%) and thought leadership (25%).

 

The figures increase somewhat proportionately for social media use in the next 6-12 months, with lead generation and customer engagement spiking to 61%.

 

A significant improvement from last year, 83% of respondents say they agree or  strongly agree that social media is effective for marketing. Only 2% say they see no value in it.

 

The report also finds that 77% of respondents reported that they manage social media efforts in-house, while 15% of companies outsource aspects of their social media marketing.

 

A good number of respondents (63%) say that they use social media for 2 hours or more each week and an additional 31% use it for more than 5 hours a week. This signifies a keen and sustained commitment to social networking and maintaining a social presence.

 

Sixty-four percent of survey respondents attested to using search engine marketing (SEM). The search engine platform of choice is Google Adwords.

 

Even as marketing efforts are being diverted towards social media channels and  interactive digital media, traditional channels are still holding their own and remain quite relevant.

 

Thirty-two percent of survey respondents reported an increase in print, advertising and broadcast budgets as opposed to just 20% last year.

 

 

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