Unlocking growth: An SMB's guide to digital marketing

29 Sept 2023 | SME, Business Launch & Operations, Digitalisation | 5 min read

In a digital world, businesses recognise the need to harness the power of technology to market themselves. Notably, the aftermath of the COVID-19 pandemic saw a surge in the digital marketing landscape. By 2022, e-commerce in Singapore had risen by 55% and businesses spent a total of $1.13 billion on digital marketing strategies.

But what exactly is digital marketing and how do small and medium-sized businesses (SMBs) benefit from this advertising strategy? 

Digital marketing pertains to the use of various digital channels such as search engines, social media, emails, and mobile apps to promote products and services to consumers. Basically, this type of marketing strategy leverages the use of technology to reach a wider audience. 

Digital marketing can be beneficial for any business. That said, for SMBs, here are some of its advantages: 

1. Cost efficient: Compared to traditional marketing, which can cost businesses anywhere from $250-$20,000 a month, digital marketing offers options for every budget, enabling SMBs to compete with larger entities.
2. Precise targeting: Knowing your customer is essential, but understanding your specific customer segment is even more critical. This entails truly understanding the situation on the ground, country by country, state by state, postal code by postal code. For some businesses, such as banks, restaurants, or retailers, it may even mean tailoring communications store by store. By targeting specific segments of your audience, you can gain higher conversion rates.
3. Flexible:  Digital campaigns can be tweaked in real-time based on performance data. If an ad isn’t resonating, you can easily adjust or pivot, minimising wasted spend and maximising impact.
4. Increased brand awareness: With over 5.81 million active internet users in Singapore in 2023, businesses can leverage various digital marketing channels such as search engines, e-commerce sites, and social media platforms, to reach a wider audience. These channels can help you effectively showcase your brand's identity, values, and offerings. 

Social media marketing involves the use of social media platforms such as Instagram, X (formerly Twitter), LinkedIn, and more to promote products, services, and brands. Likewise, businesses use these platforms to connect with their audience, build a community, and convert followers into customers.

On social media, SMBs can pursue organic marketing, paid marketing, or a combination of both.

●       Organic marketing: Non-paid efforts where you naturally grow your audience and online presence. This relies heavily on creating valuable content and engaging with customers. This can be done by responding to comments and regularly posting photos, stories, and videos.

●       Paid marketing: These are efforts where you invest money to promote your content, products, or services to a specific target audience. You’re essentially paying for visibility.

Examples of social media platforms are:

●       Facebook: With 5.35 million Singaporeans on the platform, Facebook has the biggest market for potential customers. Create Facebook pages and shops and then post on Facebook Marketplace to widen your reach. You can also use Meta Business Suite to centralise your notifications and feed to better suit your business.

●       Instagram: This platform has a variety of features such as Instagram Live, Shoppable posts, stories, highlights, Instagram Reels, and a lot more. Don’t forget to add hashtags to your posts to increase visibility.

●       LinkedIn: This platform shines in B2B marketing. Show off your expertise through organic content and target professionals in specific industries through sponsored content.

B. Content marketing

This marketing strategy involves the creation of valuable and relevant content. The primary goal is to reach potential customers by providing information that can entertain, educate or solve problems. Compared to social media marketing, this strategy focuses more on establishing long-term trust and building a strong brand reputation rather than selling a product. Here are the hallmarks of this marketing strategy:

●       Website: This is where you regularly post your content. By making this user-friendly and engaging, customers can get a sense of what you offer.

●       Content: Your content can be in the form of blogs, videos, infographics, etc. Producing quality content is a must as it establishes authority and builds trust.

●       Search Engine Optimisation (SEO): This ensures that your content ranks high on search engines. Implementing good SEO practices increases visibility and attracts organic traffic.

C. Paid search marketing

Paid search marketing involves placing ads in search engine results pages (SERPs) to drive traffic to websites. Here are two key examples:

●       Search Engine Marketing (SEM): Using this method, you pay search engines to increase your website's visibility. This includes tactics such as pay-per-click (PPC) advertising where businesses bid on keywords relevant to their products or services.

●       Keyword analytics: With keyword analytics, SMBs can assess the effectiveness of their chosen keywords through the evaluation of metrics such as click-through rates (CTR), conversion rates, impressions, and more. This helps businesses refine their marketing strategies.

Digital marketing is an important aspect of growing your business. It allows you to reach a wider audience and improve your brand. To successfully capitalise on this cost-effective marketing strategy, you need a reliable partner to ensure uninterrupted operations. Singtel offers a range of solutions for all your telecommunication needs such as broadband, mobile, and cybersecurity, providing the support for a seamless and efficient digital marketing experience.