Monetary Authority of Singapore picks new social media agency

The Monetary Authority of Singapore has picked Edelman Singapore as its new social media agency for a period of two years with the option to extend for another one year, according to GeBiz documents seen by MARKETING-INTERACTIVE. 

MAS is Singapore’s central bank and integrated financial regulator. It promotes sustainable economic growth through monetary policy, macroeconomic surveillance, and manages the exchange rate and foreign reserves.

By leveraging social media, MAS seeks to reach out to a diverse target audience including members of the public in Singapore, individuals or entities looking to invest in Singapore, financial institutions and industry associations, researchers, academics. students, media and financial authorities and central banks of other jurisdictions.

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It was looking for a social media agency that could:

• Provide timely updates on MAS' news to members of the public, financial institutions as well as local and overseas partners.
• Amplify MAS’ announcements, programmes and initiatives to members of the public, financial institutions as well as local and overseas partners.
• Enhance the understanding of MAS’ mission and work among financial institutions, members of the public, financial institutions as well as local and overseas partners.
• Enhance MAS’ branding as an employer of choice among students, graduates and mid-career professionals.

Edelman will need to provide services to achieve the deliverables over the required period, which will include content management, content development, content production for MAS' social media platforms which includes six content posts a month and more. 

It will also need to develop an always-on social media and execution plan to grow each platform while supporting efforts to achieve MAS’ overall communication objectives.

As part of the contract, Edelman will need to conduct channel and campaign reporting with a monthly and yearly report. It will have to provide a monthly report on the performance of MAS’ social channels, analysis of audience demographics, performance of posts, and analysis of sentiments.

The report should also include advice and suggestions to refine MAS' social media strategy and content. Where relevant, report should also include best practices from other government agencies, central banks and key financial institutions, it said in tender documents. 

Edelman declined to respond when MARKETING-INTERACTIVE reached out. 

The tender comes shortly after Singapore's national social security system Central Provident Fund Board (CPF) handed its social media remit to Wild Advertising and Marketing and Uniform, according to GeBiz documents seen by MARKETING-INTERACTIVE. 

As the social media agency of record, Wild Advertising and Marketing is responsible for the overall content strategy and creative production across all of CPF’s social media platforms including Facebook, Instagram, YouTube, Telegram and TikTok, said Ng Hwei Yun, client services director at Wild Advertising and Marketing when MARKETING-INTERACTIVE reached out at the time. 

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