(The Financial Coconut Business Show x UOB FinLab)
The traditional marketing funnel has long been treated as gospel in business schools: awareness leads to consideration, which leads to conversion and eventually advocacy. Clean, predictable, and linear.
But that framework no longer reflects how consumers actually behave, according to a recent panel discussion hosted by UOB FinLab under the UOB SME Elevate Programme in collaboration with The Financial Coconut.
Moderated by Judson Teo and Reggie Koh from The Financial Coconut, the session brought together marketing leaders from Canva, Stryv, and Diamond Ateliers to unpack what modern marketing looks like for challenger brands trying to scale in crowded markets.
Their conclusion was clear: consumers no longer move neatly through a funnel. Instead, marketing today functions more like a playground — one where discovery, validation, hesitation, influence, and purchase can all happen simultaneously.
For SMEs, that shift changes everything.
For challenger brands, the biggest obstacle is often not product quality, but credibility.
Vanessa Tan explained that customers comparing an SME to an established industry giant are not necessarily searching for more information. More often, they are trying to reduce the risk of making the wrong choice.
Consumers want reassurance that the product works, that the business is legitimate, and that support will still exist after payment is made. In that environment, social proof becomes more powerful than polished advertising.
Consumers want reassurance that the product works, that the business is legitimate, and that support will still exist after payment is made. In that environment, social proof becomes more powerful than polished advertising.
Unedited comparison videos, authentic customer reviews, and visible community engagement help remove friction from the buying decision because they signal safety and familiarity. When consumers feel confident they are unlikely to regret the purchase, price becomes less of the deciding factor.
That same desire for authenticity is also driving the rise of founder-led content.
Unedited comparison videos, authentic customer reviews, and visible community engagement help remove friction from the buying decision because they signal safety and familiarity. When consumers feel confident they are unlikely to regret the purchase, price becomes less of the deciding factor.
That same desire for authenticity is also driving the rise of founder-led content.
SMEs have a built-in advantage that large corporations do not: proximity. Customers are often just one degree away from the people building the business.
The panel discussed how founders who appear regularly in content –sharing the motivations, challenges, and purpose behind their business – are often able to build trust far more effectively than branded campaigns alone. Audiences increasingly want to know who they are buying from, not just what they are buying.
For SMEs, the opportunity lies in showing conviction – demonstrating why the business exists and why the customer’s problem matters deeply to the people behind it.
SMEs have a built-in advantage that large corporations do not: proximity. Customers are often just one degree away from the people building the business.
The panel discussed how founders who appear regularly in content –sharing the motivations, challenges, and purpose behind their business – are often able to build trust far more effectively than branded campaigns alone. Audiences increasingly want to know who they are buying from, not just what they are buying.
For SMEs, the opportunity lies in showing conviction – demonstrating why the business exists and why the customer’s problem matters deeply to the people behind it.
There is a fine line between authentic storytelling and “pity marketing”, where personal struggles are used primarily as a sales tactic. As consumers become more discerning, intent matters. Audiences respond positively when founders speak genuinely about the problems they want to solve and the value they hope to create for customers.
That search for authenticity is also reshaping how brands think about influence.
The panel challenged the assumption that successful marketing requires large influencer budgets or celebrity partnerships.
Laura Kantor shared how the company leans heavily on organic user communities through initiatives like its “Canvassador” programme, rather than relying solely on paid influencers. Canva nurtures passionate users who already advocate for the product naturally.
For SMEs, this approach can be even more valuable.
Nano-influencers and loyal customers often generate stronger engagement because their recommendations feel more relatable and credible. Their audiences are smaller, but the trust within those communities tends to be significantly higher.
Importantly, many organic advocates are not motivated purely by payment. Early access to features, exclusive experiences, direct engagement with founders, or simply being recognised by the brand can be enough to turn enthusiastic customers into long-term ambassadors.
Over time, these communities create something far more sustainable than a one-off marketing campaign: a self-reinforcing ecosystem of word-of-mouth advocacy.
But attracting customers is only one side of the equation. Keeping them is what ultimately drives long-term growth.
In crowded markets, competing purely on price is rarely sustainable.
Don Siah, Chief Executive Officer of Diamond Ateliers, spoke about how specialised post-purchase experiences can become a key differentiator. Services such as lifelong maintenance, personalised customer care, and continued engagement help transform transactional purchases into long-term relationships.
The discussion ultimately reinforced a broader reality facing SMEs today: consumer behaviour is becoming increasingly non-linear, trust-driven, and community-led.
Marketing should not stop once the customer checks out. In many cases, the post-purchase experience becomes the strongest driver of referrals, repeat business, and brand advocacy.
This is especially important in a digital landscape where consumers are constantly overwhelmed with new options and advertisements competing for attention.
As consumer behaviour becomes increasingly non-linear, SMEs need more than just new marketing tactics. They need new capabilities.
Through initiatives such as the UOB SME Elevate Programme, Women in Business Programme and AI Ready Programme, UOB FinLab supports SMEs in building the digital, AI, and sustainability capabilities needed to remain competitive in a rapidly changing market.
Because in today’s environment, successful marketing is no longer about guiding customers neatly down a funnel. It is about building a brand ecosystem compelling enough for customers to step into, explore, trust, and ultimately return to.
More Than a Founder: Growing a Business While Embracing Motherhood follows Sydney Ho as she navigates scaling multiple F&B ventures while raising a young family, offering a candid look at leadership, trade-offs, and building sustainable systems. Through her journey, the episode highlights that growth is shaped not just by strategy, but by support, adaptability, and grace.
Prime Aces Limousine shows that sustainability is a gradual and data-driven journey, building internal capabilities and leveraging digital efficiency while balancing service reliability with practical steps toward long-term impact.
AI is emerging as a practical tool for ASEAN SMEs to navigate rising costs, shifting demands, and increasing competition—enabling smarter decision-making, greater efficiency, and more resilient operations. By leveraging AI alongside ecosystem support from platforms like UOB FinLab, SMEs can scale sustainably, optimise resources, and build long-term growth without adding proportional complexity.
Designed for business owners to enhance their digital capabilities through practical learning, this programme takes businesses to the next level.
Designed for business owners to enhance their digital capabilities through practical learning, this programme takes businesses to the next level.
Bridge ideas and innovation, subscribe to the FinLab Connect now!