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Singapore: The next destination of online marketers

Online marketing is gaining recognition amongst big brand advertisers in Singapore as advertising budgets shrink within the present dour economic system.

A developing quantity of advertisers are embracing on-line marketing to attain exact targets, measurable returns on investment more than conventional marketing and it was a cost-effective medium, based on Frost & Sullivan today.

The market was worth US$142.1 million in 2007 and this has been forecast to reach US$413.5 million by the end of 2013.

Frost & Sullivan said advertisers and media agencies alike were cashing-in on on-line marketing as the youth had become the biggest on-line consumers.

“The youth of Singapore are hooked on the internet. They form the largest chunk of active internet users and have been a primary driver of on-line marketing in recent years,” said Frost & Sullivan industry analyst Kamlesh Kalwar.

Last year, Singapore’s on-line marketing industry was estimated to have raked in US$190 million in revenue, representing a year-on-year growth of 33.7 percent.

Paid search marketing, by far the largest on-line marketing segment, accounted for 44 percent (US$62.5 million) of Singapore’s on-line marketing revenue in 2007.

Kalwar said companies had not only started to see the value of on-line campaigns but also recognised the importance of tracking it, which was driving the growth of paid search.

Display marketing was the second biggest segment, accounting for 25 percent (US$35.5 million) of revenue, with banner ads and email advertising being the two most popular forms of display ads.

Job classifieds had been the main source of revenue for on-line classifieds within the past two years with the other key revenue earners being on-line auctions, real estate and automotive or car sites, the research company added.

The smallest segment was the on-line directory services which accounted for the remaining 12 percent (US$17.1 million) of revenue in 2007.

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