More than 90% of businesses experiencing challenges; almost half of these challenges are related to how connected or disconnected they are from their customers and audiences.
HubSpot has announced the findings of a survey conducted by YouGov on Singaporean consumers and business leaders about their recent experiences with brands and how truly connected they are to their audiences.
Close to 1,300 Singaporean consumers and business leaders were surveyed online in May 2023 to delve into the challenges and changes they have faced over the past few years.
The survey took a 360-degree look at how Singaporeans feel about brand experiences, viewing both the consumer’s perspective and 250+ decision makers in Singapore — as both business leaders and B2B buyers — to get the full picture.
Key findings
1. Symptoms of disconnect
Despite our hyperconnected world, reaching customers and aligning teams has never been harder. The research showed three key trends emerge and that disconnection actually starts to show up for businesses in three symptoms:
2. Disconnected data and systems
28% of Singapore business leaders say that they are experiencing challenges related to data and systems. Some reasons cited are cobbled systems and data that doesn’t flow, too much data that are of poor quality and is inaccessible, and not having enough data.
3. Prospects and customers are now harder to reach
96% of Singapore business leaders say that reaching prospective and existing customers is harder today than it was a year ago.
On top of that, 43% say that growth is slowing and the strategies that have worked in the past are becoming less effective. Among these respondents, 83% say this has remained consistent or has become more of a challenge over the past 12 months.
“We are thrilled to work with Mandai Wildlife Group to bring the wonders of augmented reality to the ART-ZOO Happy ZOObilee trail. By combining the magic of AR with the double celebrations of Singapore Zoo’s jubilee as well as the nation’s 58th birthday, we aim to showcase the limitless possibilities of augmented reality and contribute to a well-rounded visitor experience.”
Kat Warboys, Director, APAC, HubSpot
4. Brands and customers are misaligned
85% of Singaporean consumers have had a negative experience with brands they engaged with or purchased from since the start of 2023. From the research, the biggest pain points for consumer buyers are being inundated with irrelevant marketing materials (40%) and feeling like brands lack interest in improving their service (34%).
B2B buyers are no different; in fact, 30% also cite issues that brands show a lack of interest in improving services. Another issue B2B buyers are feeling is the fact that brands have poor expertise or low competency among staff (31%).
“Disconnection shows up in a brand’s ability to reach their audience — both prospective and existing customers alike in a meaningful and valuable way. Companies will not win by focusing on customer management, but by focusing on customer connection. You need a connected customer growth strategy to succeed””
“Consumers in Singapore have some of the highest expectations in the world. Superior customer service, communication channels that meet you where you are, and brands with seamless digital experiences are becoming the new differentiator. This is a business problem because the future, as determined by your customers, is connected experiences. The pendulum is swinging back. And like those societal shifts that came before, businesses must adapt and respond”
