The most important aspect of business management is marketing. Nowadays, over 80% of companies use digital marketing as a way of creating brand awareness. If you don’t advertise your business online, getting clients will be a tall order.
Even though marketing is effective in growing a business, sometimes it can be expensive. If your marketing budget is constantly high, consider making minor adjustments to save on expenditure.
Before we talk about reducing digital marketing costs, we need to understand what digital marketing is, the popular methods of digital marketing in Singapore, and their costs.
What is Digital Marketing?
With the increased usage of smartphones and the internet, digital marketing has become popular in modern-day business marketing.
Digital marketing involves email marketing, search engine optimization, social media marketing, pay-per-click, content marketing, and mobile marketing.
What Are the Popular Digital Marketing Methods Used in Singapore?
Digital marketing has become popular among businesses in Singapore. The main reason for the rising use of digital marketing in Singapore is that it lets companies explore various techniques on a limited budget. It also allows marketers to track the performance and return on investment of their internet marketing strategies. They can do that using analytics dashboards and other valuable tools.
Another factor for digital marketing’s surging popularity is that many consumers now use the internet to study products before purchasing them.
So, what are the popular strategies used in Singapore?
User-Friendly and Responsive Website
The critical component of any internet marketing campaign is your website. It is the first impression your potential consumers will have of your business and what it offers. This platform also helps to convert leads to buying customers.
Therefore, when designing your website, ensure it is user-friendly.
Search Engine Optimization (SEO)
Having a website is not enough. It would be best if you also adopted strategies to improve its exposure in search results. As a result, you will reach out to potential clients.
In Singapore, content marketing is also an essential digital marketing technique. It entails developing and distributing various forms of content to engage and attract your target audience. Increasing brand awareness, improving site traffic, generating leads, increasing conversions, and keeping existing clients are all common content marketing initiatives.
99 % of people check emails daily. Therefore, email marketing is one of the most successful digital marketing tactics in Singapore. Businesses send branded emails to existing and potential customers to raise brand awareness, establish authority, promote forthcoming events, and keep them informed about special offers.
Social Media Marketing
After google, social media has the second-highest number of active daily users. In Singapore, 4.1 million people who use the internet also visit Facebook.
Owing to a large number of active social media users, you can see why social media marketing is so popular among Singapore’s digital marketers.
Also known as search engine marketing. It is an internet marketing strategy where you pay the advertisers any time users click your ad. One advantage of this strategy is that it works faster than SEO. It is also easy to measure return on investment because you pay per click.
If you invest in the right keywords, this method will work for your business. It will also give you quality leads.
Cost of Digital Marketing in Singapore
It is important to note that Singapore is a country with a relatively low population of about 5.6m. Therefore, if you put enough effort into your marketing strategies, you will reach many people.
As we have seen above, digital marketing has been widely embraced in Singapore. However, to succeed in digital marketing, you have to invest a significant amount of money.
Many factors determine digital marketing costs. First, you have to determine the extent of your market penetration. You also have to determine the level of expertise you want to be involved in your project. Different marketing strategies have additional costs. The type of service you want and the duration of your marketing campaign also matters.
Given the abovementioned factors, a typical digital marketing agency will charge you anything from SGD 1,000 to SGD 5,000. Freelancers’ hourly charges range from SGD 50 to SGD200, and the entire project will cost you between SGD 5,000 and SGD 10,000. These freelancers charge according to their level of expertise and experience in the marketing field.
How Can You Cut Down Digital Marketing Costs?
Digital marking is essential for any business, especially if you are new in the industry. Even though digital marketing costs may be outrageous, you should not give up because there are ways you can use to reduce them.
Use Marketing Automation Tools
Marketing activities may eat your profits if you decide to delegate them to people instead of using automated marketing systems. These activities may also consume a lot of your time. Automating these daily marketing activities will help you save on time and improve your marketing strategies.
Here are some of the marketing tasks that you can automate.
Social media Chatbots
Chatbots are being widely used all over the world. They are used primarily on Facebook messenger and other social media platforms.
Chatbots may be used for various activities, including gathering corporate information, providing customized assistance, reacting to social media posts, and marketing your content.
One main advantage of these chatbots is that they will continue running after they have been set up. You will not need to put in any effort.
An email autoresponder can assist you in developing a stronger relationship with your clients without requiring additional effort. An autoresponder that is well crafted can be used as part of a pre-sales process.
Link general Business Tasks
Your marketing should function like a machine. Every component should work together to help you achieve your goals. Consider incorporating automation tools into your workflow if your marketing tools and techniques seem to be scattered.
IFTTT is one of the most widely utilized tools. You may use it to connect your social media, email marketing, lead management, and content marketing activities. All of these will help you save a significant amount of time. You have the option of choosing from already existing automation or create your own depending on your current workflows.
Recycle and Reuse Content
Marketing professionals are always emphasizing the most incredible way to acquire an audience and keep them interested is to provide new and fresh content. This statement is true, but you don’t have to produce entirely new content all of the time.
Repurposing and recycling existing material are brilliant ways to keep your accounts afloat. This way, you can focus on producing new content for future usage.
It is unlikely that all your brand’s Twitter or Facebook followers have seen every single post you’ve made. Therefore, you can reuse material. You can also consider making slight modifications so that your account doesn’t appear automated.
The following two ways are how you can approach it.
Update and Promote New Content as If It Were Fresh
Older material can assist in attracting new consumers and traffic. Just because you’ve published a post does not mean you are through with it.
You may discover new facts that can assist you in improving your current post. You may even rewrite portions and enhance the user experience.
Repurpose Content for New mediums
Content marketing is more than just creating and posting blog after blog. Your viewers may prefer consuming material differently. Consider converting your existing blog content into new mediums. You could, for example, make an e-book out of a series of blog articles. You may also make an infographic out of data-driven posts.
Converting your content into new formats may help you reach new clients. It is also possible to gain new backlinks for your site.
Find Free Marketing Tools
The digital marketing world has many marketing tools, but you have to pay to use them. Some of these tools are expensive and may increase your expenditure. To cut down on digital marketing costs, you may consider exploring free marketing tools available.
Sometimes you may find that you are paying more than you should for marketing. First of all, list all the marketing tools you have. Study them to see if any free tools offer the same thing. You may also assign a small group to test and provide a comparative report.
However, most premium marketing tools have advanced features compared to the free ones. Therefore, conduct proper research to see which one serves you best. If your business does not need the premium tool, go for the free one.
There are many free keyword research and SEO tools and image production, email marketing, social media, and analytics tools.
It may take some time to learn the new tool, but if you can attain the same results while saving a significant amount of your money, it will be time well spent.
Cut marketing Channels that Are No Longer Effective
You are most likely using many marketing channels ranging from social media, email marketing, blogs, and pay-per-click to influencers in your business. Dismiss those that are underperforming or failing to fulfill your short and long-term objectives.
If you are not sure of what to do, borrow some tips from your competitors. Implement the methods that they use most. Those are most likely the most profitable methods.
Alternatively, based on your long and short-term objectives, start eliminating these channels slowly. Since SEO and content marketing are long-term efforts, you may want to put them on hold or scale them back while you devote more money to paid advertising. Begin to reintroduce them into the bigger plan as leads and revenues increase.
Optimize Your Target Audience
When you are looking to get new customers and retain the existing ones, you have to spend a significant amount of resources. If you focus on the wrong target audience, then your resources will be wasted. Even if some customers outside your target audience may buy from you, the resources spent to attract them may not offset the marketing cost.
Take a closer look at your target audience and study their demography, lifestyle, and shopping habits. You can also check the profiles of your existing market. Therefore, when you are marketing, you will know where to put effort.
Focusing on the right audience will boost your sales hence more profit.
Outsource your Social Media Marketing
However, for small businesses, gaining followers and finding the right content to post may be challenging and distracting. To save time that would have been spent looking for new posts, reading tweets, and stressing about the content, you will publish next, outsource the task to a company specializing in it.
By doing this, you can dedicate the time you would have spent on social media to do other activities to grow your business.
Focus on Referral Marketing
One of the most effective marketing strategies nowadays is referral marketing. Some companies may not be aware of it yet, but it works. That means that your customers are your greatest ambassadors. Therefore, you should focus on building a good relationship with your customers.
If you treat your customers well, they will spread the word about your business. As a result, you will get more customers. You can also consider giving your customers incentives. You can do so by offering discounts for every customer they bring.
Digital marketing is one of the most effective strategies in business marketing nowadays. However, digital marketing costs sometimes may be outrageous. However, this should not discourage you because you can use ways to reduce these costs and advertise your business.
Contact us today for stellar digital marketing services. We will create custom marketing campaigns that suit your budget and brand.