Zero budget marketing took hold in Singapore in 2017 and will run rampant in 2018. Why? Because it works.
Why do you need to spend millions on fancy and creative media in Singapore if customers are not viewing and not engaging and there is no longer any compelling reason for it?
Companies are cutting back spend and not seeing any difference in sales. Other brands never spent a cent on media and have risen to become household names and able to drive engagement and sales - the most obvious being brands like Facebook and YouTube.
Even if you look at more traditional brands like retail giant Zara they spent zero money on media and yet everyone shops in their stores no problem. How do they do this? They deliver products people want. They analyse trends, they look at what people want, they listen and they constantly change their product range. Fast fashion perfectly executed. Check out all their stores in Singapore and you'll see happy and frequent customers.
Simple. Word of mouth and social media does the rest. Authentic influencer marketing is key to their success.
Why would they need media?
Social media has taken away the need to spend money on media in Singapore. Nothing beats authentic content marketing going viral organically through naturally, ie unpaid, influencers on a channel that a customer loves.
Now that video has taken over every platform from facebook to WeChat to LinkedIn why do you need a media budget? All you actually need is customers talking about your brand and sharing their experience on social media channels targeting your customers in Singapore.
All your brand needs is authentic, engaging, original, raw content. Content marketing and storytelling will do the rest along with authentic influencers and advocates in Singapore.
If you build up your social media channels you own those followers in Singapore, if you engage with those followers to share your content and their content on these channels you own that content in Singapore, you own it all. That is a direct investment in your long-term brand in Singapore.
The best example of this is Red Bull. They are a media company to rival any other. By building their brand through compelling content marketing and social media, mostly through influencers and fans, they have become the ultimate media brand for targeting their audience.
Their media channels include 4 print publications, 3 TV channels, 6 websites, 2 mobile apps, 3 music labels, cinema, books, feature films, action features, TV documentaries, magazine programming, reality TV, short formats, live broadcasts, still images and every kind of content that you can possibly imagine.
That’s better than any usual media channel gives you.
Zero budget marketing is here to stay. It is the future of smart marketing in Singapore.
The views expressed in this column are the author's own and do not necessarily reflect this publication's view, and this article is not edited by Singapore Business Review. The author was not remunerated for this article.
Do you know more about this story? Contact us anonymously through this link.
Chris Reed has 25 years of senior marketing experience on both the client and agency side in the UK and now in Asia Pacific. He is the CEO and founder of Black Marketing.