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In a recent study conducted by customer relationship management platform, HubSpot, it emerged that 9 out of 10 social media marketers in Singapore foresee an increase in consumers buying products directly from brands via social media platforms in 2024. As opposed to purchasing from third-party websites (92%), or the direct brand website (90%), there is a clear movement towards social media as a primary channel for retail.
This finding, among others, was derived from a global survey held by HubSpot in January 2024, where 100 social media marketers from Singapore participated. A key result was that active online communities are considered a vital asset for successful social media strategies, with 89% of local marketers sharing this belief.
Kat Warboys, Marketing Director for Asia Pacific at HubSpot, asserted: "85% of Singapore's population is estimated to be social media users making it home to some of Southeast Asia's most avid users." Warboys further emphasised the importance of transitioning from traditionally accurate but frequently over-engineered material to more engaging and relatable content on social media platforms to captivate audience attention and influence purchasing decisions.
Apart from garnering an active community, the study revealed social media marketers in Singapore are employing an average of three content formats, with the most popular being short-form videos (44%), live videos or streaming (41%), and user-generated content (31%). The importance of short-form videos was highlighted by 77% of respondents who believed this format offered the highest return on investment (ROI).
In addition to short-form videos, other significant ROI drivers for Singaporean social media marketers included funny content (34%), interactive content such as polls or games (17%),, with relatable content also playing an influential role (15%). However, investments were also directed towards content that was authentic (62%), relatable (61%), and educational (60%).
The study made evident the crucial role of Artificial Intelligence (AI) in a successful social media strategy as cited by 91% of Singaporean social media marketers. More than half already use generative AI tools to develop content, with 61% of these saying AI-fuelled content performed better. Of the marketers, 54% believed AI could help them create personalised content at a faster pace.
Warboys commented on the utility of AI, saying: "Generative AI tools can provide teams with data-driven suggestions for better content ideation and help develop or repurpose content for different audience groups. This approach enables marketers to effectively engage a wide range of customer segments at speed and scale."
In conclusion, the study highlighted the critical connection between social media marketing, user interaction, and AI as instrumental in shaping the future of retail in Singapore. With a large percentage of Singaporeans identified as avid social media users, this research provides key insights into the country's dynamic retail landscape.
