G2 || Group 3 || The Singapore Flyer

flyer2

1. Overview

1.1 Introduction to Singapore Flyer

The Singapore Flyer was opened in 2008, proudly stands asn iconic attraction of Singapore due to the fact that it is the largest Giant Observation Wheel in Asia, standing at 165m tall. It was previously owned by Singapore Flyer Pte Ltd, till 2013 when it was placed under receivership, and later bought over by Straco Corporation Ltd.

1.2 Rationale for Choice

Despite being hailed as an icon of Singapore, the Singapore Flyer ironically underwent bankruptcy which caused it to go under receivership in 2013 . This let-down from their initial grand ambitions can be largely attributed to poor visitor numbers, which is a major source of revenue for the observation wheel. At core, the main challenge for the Singapore Flyer lies in the need to create and sustain its novelty factor, as its main selling point of experiencing a 360 degree view of Singapore can be entirely encaptured in a single visit. Till date, the company has not been able to successfully create a vibrant brand identity shrouding the attraction, as represented by poor visitation numbers (Koh, 2014). Hence, the marketing message of our social media strategies will be focused on generating hype and sustaining the sense of novelty amongst our target market mentioned in (2).

1.3 Project Goal

The dismal profit revenue experienced by the Singapore Flyer is inherently caused by the poor visitor rate suffered. Thus, our project goal is to re-build the flyer’s identity from “boring” and “expensive”, to an experience that provides more than just a plain 360 degree view of the Singapore skyline, and is worth re-visiting for the pleasant experience. With this repositioning, we hope to drive up visitor rate and increase return visits.

  1. Target Audience

As of current, the target segment of the Singapore Flyer is working parents.  However, given the poor response from this current target segment, we believe that the Singapore Flyer should expand its target market to include the Millennials. This particular segment are heavily involved in social media, regularly use social media as a channel to get updated on current trends and news (Pick, 2016) and are also the largest consumer generation. (Solomon, 2014) Moreover, instead of broadly targeting working parents, the organization should narrow down and focus on the target segment of Mothers instead. As reported by Mintel in 2015, 84% of Mothers are key decision makers in the family unit over purchasing decisions. Therefore, our target audience would be millennials and mothers.

  1. Choice of Social Media Platforms

After reviewing their current social media presence in terms of types of platforms, followership, posting patterns, engagement and outreach, we decided to focus on Instagram and Facebook. This is based on the fact that the Singapore Flyer prides themselves in the extravagant views they offer in their capsules, we feel that they should strengthen their social media presence via a more visual appeal. Therefore, we propose Instagram , which is in essence a photo-sharing platform, the most appropriate media platform for them. Daily competitions through the trend of ‘Picture Of the Day’, could be used to engage and interact with the millennials. Through the creation of more valuable content on its Instagram page, not only will this strategy generate a sense of community amongst the target segment of the millennials, it will also increase engagement, build more awareness and enhance the novelty factor of the attraction. This is modelled after the successful marketing strategy of user-generated posts by GoPro, and the present trend of #exploresingapore on Instagram, which encourages users to hashtag or tag pictures containing views of Singapore. The acceptance and embracement of this trend by Singaporeans is reflected by the high following of 81.9k on the Instagram page, ‘Explore Singapore’.

Hence, the focus will be oriented towards stories and experiences shared by families. Furthermore, since Facebook allows for two-way communication, it could be used to allow Mothers to also suggest and vote for events hosted at the Singapore Flyer they would like to have and attend with their families. This would not only build a warm and engaged community of Mothers online, but will help the Flyer create a, through the posting and sharing of testimonials of satisfied families, and online family bundle giveaways. more vibrant eco-system and expand on its identity as just an observation wheel. It is important to note that despite a relatively high following of 472,258 users on their Facebook page, as of present, there is low engagement on the platform, as reflected by the poor rate of likes and comments that each posts generates on average. This illustrates that their current Facebook strategy lacks engagement with followers and vibrancy.

  1. Measure of Effectiveness

Analysis will be based on:

  1. The number of users exposed to the content
  2. The levels of engagement as reflected through mentions, like and followers
  3. How audience have evaluated campaign in terms of advocacy
  4. Sales of the Singapore Flyer per quarter
  1. Conclusion

Ultimately, the strategic use of social media platforms of Instagram and Facebook is aimed to increase the social awareness and community engagement amongst the target market of Mothers and millennials. Essentially, the effectiveness of these strategies are based on its ability to generate greater awareness of the enthrallment of the flyer as an attraction of Singapore.

 

Prepared by: Deveka Sharma, Rachel Ng Ming Hui & Tonia Viktoria Nelskamp

References

  1. Solomon, M. (2014, December 29). 2015 Is The Year Of The Millennial Customer: 5 Key Traits These 80 Million Consumers Share. Retrieved September 21, 2016, from: http://www.forbes.com/sites/micahsolomon/2014/12/29/5-traits-that-define-the-80-million-millennial-customers-coming-your-way/#3e593e32a81f 
  2. Pick, T. (2016, January 21). Best Social Media Marketing Stats and Facts, 47 of Them. Retrieved September 21, 2016, from: http://learn.infusionsoft.com/marketing/social-media/best-social-media-marketing-stats-and-facts/ 
  1. Koh, Yvone (2014, September 15) Singapore Flyer is Too Costly. Retrieved September 21, 2016, from: http://news.asiaone.com/news/singapore/singapore-flyer-too-costly 
  1. Mintel (2015) Mum’s Both Queen And King Of The Household As She Leads Purchasing Decisions Across All Categories. Retrieved September 21, 2016: http://www.mintel.com/press-centre/social-and-lifestyle/mums-both-queen-and-king-of-the-household-as-she-leads-purchasing-decisions-across-all-categories