As the nation celebrates the 50th anniversary of independence from Malaysia, we examine how local "Made-in-Singapore" brands are doing so far.
The Singapore prestige brand awards was founded in 2014. The controversial question is how many of these brands that won the 2015 Singapore prestige brand award have you heard of?
"Too often, too little" is a phrase we use to describe most local brands in Singapore. What this means is too often do we see many Singaporean companies do little to nothing at all in terms of marketing efforts.
3 pitfalls of local companies in brand marketing
1) Compromising on quality
Cost-cutting measures have led to a severe compromise in quality. Few local brands have survived, especially consumer brands. Most have succumbed to a slow but painful death sentence, struggling to make ends meet month after month until they gradually fade away into the darkness quietly.
Take a look at some of the local brands that have folded their business in the past decade.
Our advice to marketers and business owners is if you are unsure of certain areas of work that you are doing, hire only experts to help you out. The cheapest quotation does not mean it's the best. Consequently, the most expensive does not mean quality either.
2) Confusing advertising with brand campaigns
Advertising is js just paid dollars to get your brand name around - to be seen and heard by a larger group of people.
A brand campaign on the other hand requires concept, a sound strategy and proper planning.
As easy as it is for a brand to pay to have their products or service plastered all around the internet and some traditional forms of media, an brand campaign without a good strategy will only backfire on the advertiser.
Two things can occur if an advertising campaign is not done right.
A huge turn-off
People get turned off when they see something that is distasteful towards a society's culture and norms. Worse still, people are increasingly turning to social networks such as Facebook to voice their opinions to boycott or badmouth your brand when they deem fit.
At the same time, In an increasingly progressive society where Singaporeans are more and more well travelled and exposed to international culture and norms, it is important to formulate brand and advertising campaigns with a good balance between both.
However, this can only be achieved by having a good understanding of your consumer market.
When brand messages have no significance in a person's life, more often than not one will be conditioned to tune out of the hundreds and thousands of advertisement messages they are exposed to on a daily basis.
Sometimes even big, creative campaigns led by million dollar advertising agencies fail to deliver a succinct message to its intended audience, leaving most confused or simply to ignore the ad.
When people start to tune out, they don't see your ad be it on the walls of MRT stations, YouTube channel surfing or online banner ads that have been re-served to the same individual one too many times.
3) Investing too little in the right areas and spending too much in the wrong ones
Knowing which battle to pick from the start will go a long way for a young brand or one that is in need of revitalising its image.
Some good questions to ask and discuss with your team or incumbent digital agency would be which media platforms work for your brand and which don't? Who should you partner with and what is the optimum spend for your marketing campaign on a social media network.
To find out more on what you are missing out in the digital space for your brand publicity in order to thrive and reign the local scene, contact us.