Singapore is a great place for both business and pleasure. If you are thinking of marketing your business in the beautiful island state, then it’s fine time to find out how you can do it effectively. Here are a few tips to help you!
The World Bank considers Singapore the second easiest place to do business in. It is considered the gateway to the Asian region by so many business operators and private organizations alike. It is considered the 18th largest trading partner of the United States. In 2017 alone, the U.S. exported $29.8 billion worth of goods to Singapore. It is 11.3% higher than the value of exported goods in 2016.
Simply put, you have the potential of growing your business exponentially in Singapore. Hard work and creative thinking have to be put into your work in order to make sure that your business will soar.
Here are a few things to consider when you want to market your business in Singapore:
#1 Come up with a well thought out marketing strategy.
Of course, just like any other business strategy, your marketing plan has to be sold and well planned. When attempting to market your business in Singapore, however, the level of commitment to make it work must be higher than what you are normally willing to give. Singapore is a city where anything can happen. You can grow your business there with a lot of help from fail-proof marketing strategies.
#2 Promote something that is innovative.
Being a major ICT, logistics and distribution hub in Southeast Asia and home to various advanced engineering and biomedical companies, Singaporeans are used to seeing very innovative products come to life in their city. Understandably, you can expect consumers to not only be very particular about the makeup of a product but also responsive when they see it as groundbreaking work.
#3 Tap on the powerful influence of social media.
One of the surest ways to grow your business in Singapore is to use social media to your advantage. A big percentage of potential buyers in Singapore have internet connection. In 2015, it was recorded that 4 million people living in Singapore had broadband Internet. That number was expected to increase by at least 20% this year. Additionally, studies show that 74% of Singaporeans check their social media accounts on a daily basis. Just imagine how vast your market is and how easy the tool is in order to reach them.
#4 Consider using radio, TV and print advertising
Radio, TV and print media have played a very powerful role in helping businesses grow themselves in Singapore. Even with the advent of digital advertising, these three still remain very powerful tools in advertising products and services. Statistics show that 47% of people consider radio as a very reliable source of information. While considered to be quite costly, radio, TV and print advertising continue to flourish just the same. This simply means that marketers and advertisers still consider them a priority platform.
#5 Use telemarketing.
Numerous businesses have succeeded in Singapore by using telemarketing to promote products. This simply involves calling the target customers and informing them about the items and services you are selling. Mostly, businesses that are involved in cable services, charitable work, finance management services, Internet, and home security systems are the most aggressive users of telemarketing in Singapore.
#6 Do lead generation in advance for your sales emails.
A lot of business in Singapore use email marketing to promote their products, services or events. As a new player coming in for the first time, this can be tricky as you still need to build your network. However, the best solution to this is tapping the services of local marketing firms and do lead generation for your business.
#7 Support charities and do sponsorships.
Consumers in Singapore are known to respond very well to marketing initiatives of companies who are known to support local causes and advocacies the help locals directly. In fact, one poll showed that 90% of consumers expect the companies they patronize to be able to extend some form of help to members of society. Having this in mind, it is best to promote your business side-by-side with a unique initiative that illustrates how much you care about the community.
It may be in the form of an awareness campaign, a fund-raising or a drive to alleviate the lives of specific groups of people. However, way you wish to show consumers in the city that you are committed to helping them further improve the lives of its residents, remembers to always make it simple, sincere and doable.
Needless to say, Singapore is a thriving market that can help propel your business further. Make sure you take advantage of proper pipelines and establish a repertoire earlier on.