In our blog post last week, we shared that results from this year’s Adobe Digital Marketing Performance Dashboard showed that APAC marketers were becoming more confident in their digital abilities, with 28% across the region rating themselves as ‘highly evolved and a leader in their field’, compared to 23% in 2012.
What about Singapore?
This year’s findings show Singapore marketers clearly getting better at the art and science of marketing.
For starters, local marketers’ confidence in their digital capabilities has seen a tremendous improvement from last year’s 11% to this year’s 29%.
In terms of key priorities, social optimisation (including boosting community growth and engagement) remained number one for marketers for the second year running at 78%, up from 68% last year, while strengthening the brand’s digital marketing content strategy came in at a close second at 76%.
What’s interesting about this, is that content strategy wasn’t even on the radar of these marketers last year. This is a strong testament to how much local marketers have evolved. In 2012, they were focused solely on optimising the channel (social in this case). Today, they understand that to effectively make use of the channel to engage with their customers, they need to focus on the message as well. As they say, content is king!
Besides confidence and awareness, marketers feel that they are steadily gaining ground in advancing their skillsets. 51% say that their ability to measure digital marketing investment is getting better and 38% feel that their digital marketing analysis expertise is improving but do acknowledge that they still have some way to go.
Singapore also stood out as one of the few countries in the region where marketers are using data as a key competitive differentiator and applying analytic insights across the marketing lifecycle. Nearly 7% of Singaporean marketers are now taking this approach, compared to 2% last year. While a small number still, it is heartening to see Singapore marketers recognising the high potential of big data.
While 2013 presented a beautiful report card for Singapore marketers, the study identified that there are still some areas for improvement.
The digital spend in Singapore is still below the global average of 25%-35%. In fact, only 13% of marketers are spending over 50% of their budgets on digital marketing, despite believing that it can create a competitive edge for their company.
Currently, marketers are still presenting their business leaders with data that show customer preference for digital engagement, analytics on lead yield and return, and the strategic assessment of business impact. While all these measurements are good and well, marketers need to step up and provide additional insights around cost savings and performance improvement practices. This means giving higher priority to business-driving metrics like customer lifetime value, churn rate and market share improvements.
Doing so will go a long way in convincing senior management to increase investment.
Interested in finding out how else Singapore marketers fared in comparison to the rest of the APAC? Check out the links below: