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Singaporean Companies Use Social Media To Win New Business

Singaporean Companies Use Social Media To Win New Business

2011 sees rise in Singaporean businesses using social media to win new business

SINGAPORE - The last year has seen a rise in Singaporean companies using social networks, blogs, microblogs and forums to win new business, says a new global survey from Regus. In 2010 Regus found that 31% of Singaporean firms were successfully winning new customers through business social networking activity. A year later, the proportion has risen fourteen percentage points to 45%. The research also reveals that globally more firms are also using social media to connect and engage with existing customers than a year ago.

  • Globally there has been a rise of 7% in the proportion of businesses successfully recruiting new customers through social networks such as Facebook
  • 52% of businesses globally and 52% in Singapore use websites such as Twitter and Weibo to engage, connect with and inform existing customers
  • In Singapore 59% of firms encourage their employees to join social networks such as LinkedIn, Xing and Video, compared to 53% globally.
  • Two fifths (39%) of companies globally and nearly half in Singapore (44%) devote up to 20% of their marketing budget to business social networking activity.

Social networking has fully evolved from a nice-to-have to a necessity as the majority of businesses in Singapore (74%), and internationally (56%) agree that without social media activity marketing strategies cannot hope to be successful. Nevertheless, Singaporean (65%) and global firms (61%) are also emphasizing the need for a balance of marketing media, confirming their belief that without a combination of traditional and digital techniques marketing campaigns will not work.

The global Regus survey findings are based on the responses of over 17,000 managers and business owners across 80 countries.

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