Singapore – Over nine in ten Singaporean business leaders say they are currently facing challenges or have experienced challenges in the last 12 months, with 47% of those saying it say they are challenged regarding their strategies in establishing connections with their customers. This was according to the latest study from global software company HubSpot.
According to the data, only around 41% feel that their sales and marketing teams and 38% of customer service teams can effectively connect with prospects. On top of that, close to half (43%) say that growth is slowing and the strategies that have worked in the past are becoming less effective.
In addition, 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 finally, not having enough data.
Meanwhile, around 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, with 30% also citing 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%).
Kat Warboys, director for APAC at HubSpot, said, “Getting ghosted is never a good sign — it’s a symptom of a deeper misalignment between your GTM strategy and your current and prospective audience. And if it isn’t addressed, companies end up wasting time and money on campaigns that are falling on deaf ears.”
She also added that disconnection shows up in a brand’s ability to reach their audience — both prospective and existing customers alike in a meaningful and valuable way. For her Companies will not win by focusing on customer management, but by focusing on customer connection, and that businesses 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”, she concluded.
