According to Statista, Google’s advertising revenue in Singapore has been growing steadily in recent years, from SGD 1.1 billion in 2019 to SGD 1.3 billion in 2021. This growth is expected to continue, with Google’s advertising revenue in Singapore projected to reach SGD 1.5 billion in 2023.
Facebook’s advertising revenue in Singapore has also been growing steadily, but at a slower rate than Google’s. Facebook’s advertising revenue in Singapore was SGD 600 million in 2019, SGD 650 million in 2021, and is projected to reach SGD 700 million in 2023.
The following table shows the trend of Google and Facebook ad spend in Singapore over the past few years:
|Year||Google ad spend (SGD billion)||Facebook ad spend (SGD million)|
As you can see, Google’s ad spend in Singapore is significantly higher than Facebook’s. This is likely due to the fact that Google is the most popular search engine in Singapore, with a market share of over 90%. Facebook, on the other hand, is the most popular social media platform in Singapore, with a market share of over 80%.
However, it is important to note that Facebook’s ad spend in Singapore is growing at a faster rate than Google’s. This is likely due to the fact that Facebook is investing heavily in video advertising, which is a popular format in Singapore.
Deciding whether to advertise on Facebook or Google in Singapore, as in any location, depends on your specific business objectives, target audience, and budget. Both platforms have their strengths and can be effective for various purposes. Here are some factors to consider when deciding where to allocate your advertising budget in the Singaporean market:
1. Audience and Intent
Google: Google Ads is typically more intent-driven. When people use Google to search, they often have a specific intent, such as looking for a product or service. If your business offers products or services that people are actively searching for on Google, it can be a valuable platform. For instance, if you’re a local restaurant in Singapore, Google Ads can help you appear in search results when someone looks for “best restaurants in Singapore.”
Facebook: Facebook is more suited for targeting specific demographics and interests. If your products or services cater to a specific niche or require brand awareness and engagement, Facebook can be a great choice. You can target users based on their interests, behaviors, and location, making it useful for local businesses in Singapore.
2. Ad Format
Google: Google Ads primarily offers text-based search ads and display ads. These can be effective for promoting products or services when people are actively searching for them.
Facebook: Facebook offers a variety of ad formats, including image and video ads, carousel ads, and lead generation forms. These formats can be more visually engaging and are suitable for brand awareness and storytelling.
3. Budget and Competition
Google: The cost-per-click (CPC) on Google Ads can be higher, especially in competitive industries. Be prepared to invest more if you choose Google Ads.
Facebook: Facebook advertising can be cost-effective, and you have more control over your daily budget. It’s a good choice if you have a limited budget.
Google: Google Ads is strong for retargeting users who have visited your website or interacted with your brand.
Facebook: Facebook also offers robust retargeting options and can be effective for re-engaging potential customers.
5. Ad Campaign Goals
Consider your specific campaign goals. Are you looking to generate immediate sales or leads (Google Ads) or create brand awareness and build a social media presence (Facebook)?
6. Local Business Focus
If your business is primarily focused on a local audience in Singapore, consider using Google My Business for local SEO and Google Ads for local search advertising. Facebook can also help you reach local customers through targeted ads.
7. A/B Testing
You may choose to run campaigns on both platforms and use A/B testing to determine which one is more effective for your specific business and target audience in Singapore.
8. Analytics and Tracking
Implement robust tracking and analytics on both platforms to measure the performance of your campaigns and make data-driven decisions.
In many cases, a combination of both platforms can be effective. For example, you can use Google Ads to capture users with high intent and Facebook to build brand awareness and retarget potential customers. Your choice should be based on a deep understanding of your audience, business goals, and available resources. Consider consulting with a digital marketing expert who specializes in the Singaporean market to create a tailored advertising strategy.