Majority of Singapore firms use digital marketing but only a few can track progress: survey

Half face challenges in measuring the return on investment of their marketing campaigns.

About 84% of companies in Singapore are using digital marketing to advertise but many still struggle to track and measure outcomes, according to a survey commissioned by HubSpot and Linkedin.

The study, conducted by Milieu Insight, showed only 17% of the respondents were able to see the link between a good marketing strategy and higher revenues, way below Asia’s regional average of 41%.

This is in part due to the low adoption of Customer Relationship Management (CRM) platforms with only 41% saying they are using such tools to track and measure the results of their marketing campaigns

Nearly a quarter of companies using digital marketing are not even confident in the ability of their teams to effectively utilise these tools. Almost half said they felt their strategies did not contribute to meeting company goals last year.

In terms of budget, 28% of the companies allocate 21% to 40% of their monthly marketing budget to digital marketing, with 35% saying they are spending over $10,000 a month on related activies.