A recent study showed that Hong Kong-listed companies trail behind Singapore Exchange-listed firms, which seem to be more familiar with online tools for business promotion. It also noted that more than 7 per cent of companies in Hong Kong have no contact details that can be found on the Internet, as opposed to 1.2 per cent in Singapore.
The study concluded that search engine marketing in Singapore and other online marketing strategies in the city-state are better than Hong Kong, at least in terms of implementation.
Hong Kong businesses failed to keep up with the Lion City even on the fundamentals of Internet marketing, despite being having updated online technology, according to the study. For instance, several publicly listed companies in Hong Kong have no Google My Business listing, which helps firms expand their online visibility.
As a result, they fail to improve their relationship with clients and investors. The study’s lead author also said that these companies fail to use the tool to expand their online presence. On the other hand, the higher level of English fluency in Singapore serves as a leading factor for its advantage for online marketing.
The research also noted that Hong Kong enterprises focus on other online marketing strategies, instead of looking to expand their search visibility on Google. The reason behind this involves their huge operational network in China, where the Google’s services have “little or no relevance”, according to the study.
Still, it noted that Hong Kong firms need to be more active in using online marketing strategies tied with Google if they want to be globally competitive and improve brand equity.
The study may help you decide whether or not doing online business in Singapore is a good choice. The results show that it is indeed a promising country to invest in. Look for the right Internet marketing agency to work with and start your business venture in one of the fast growing economies in Asia.