The booming Singapore economy greatly motivates local and foreign investors to start businesses here. A recent report showed that there are more than 400,000 corporate entities in the country and 60% of them are owned and operated by sole traders. The government has put in place policies such as the open immigration policy that allows foreigners to easily relocate to Singapore. The government also offers tax incentives and investments protection policies that are geared to make the country one of the best places to run a business.
However, competition is still stiff across the various industries and so it is imperative to come up with plans on how to market your products and services to the targeted audience. Singapore despite its very small size is highly competitive due to its infrastructure. Here are expert tips on how to market your company in Singapore.
According to a 2015 report, Singapore has approximately more than 4 million broadband internet users. This figure is expected to increase by more than 20% by the year 2018 as more people purchase internet enabled devices. So far, the internet is considered one of the most reliable sources of information in the country.
Based on these statistics, marketing your company online will help you to connect and interact with more customers that you would using the traditional marketing platforms. 74% of Singaporeans use social media daily. Therefore, posting ads on the various social media platforms such as Facebook, Twitter, and Instagram will help increase sales as well as drive more traffic to your website.
Radio, TV, and Print Advertising
For many years, radio, TV, and print advertising have remained the most efficient ways of increasing sales and competitiveness. Recent statistics show that 47% of people who listen to radio consider it a reliable source of information. 6.9% of total media revenue earned by radio stations in the country is achieved by providing companies with advertising airtime.
The same case applies to TV and print advertising. Even though these channels are expensive, they allow one to target a specific audience. For example, when targeting the young generation, you can decide to advertise your products during radio and TV programs as well as magazines that the public is fond of.
Online marketing has gained immense traction in Singapore, but conventional advertising strategies such as outdoor advertising are still effective in generating sales for businesses. The cities are packed with posters that promote products and services for individual companies. One of the benefits of using this strategy is that information about your business will be exposed to the public 24 hours a day. It is also important to note that outdoor advertisements are 50% and 80% more affordable than radio and television ads respectively. They can also be combined with other forms of advertisements such as print and radio campaigns thereby creating an all-inclusive media focal launch.
The trick is placing the advertisement in strategic locations to get the most results. For instance, companies selling whole foods place billboards at farmer’s markets. Mobile billboards are also widely used by advertising agencies to grasp the attention of passers-by and drivers. Note that there are regulations that govern outdoor advertising that you need to heed to avoid legal tussles. Visit Advertising Standards Authority of Singapore website for full list of these regulations and information about the permits that you need.
Email Blasting & Telemarketing
Email blasting and telemarketing are two of the main strategies used by companies to spread information the company to customers. Using email blasting software, you can send newsletters and general marketing emails to your opt-in subscriber base without spending a fortune. The email blasts can be tailored to suit your goods and services. Uber uses email marketing to inform their customers about promotions and deals. The clear call-to-action and intuitive design of the email make it easy for one to understand the intended message.
Telemarketing involves marketing goods and services by calling the target customers. Companies that offer financial services, home security systems, Internet and cable services and charitable organizations widely use this strategy to get more customers. Callbox is one of the leading telemarketing companies in Singapore.
Direct marketing involves making direct contact with existing customers as well as potential clients and informing them about your products and services. Unlike other strategies such as media advertising, it allows you to target a particular group of customers and personalize the message to get maximum results. You can save time and money by hiring a direct marketing and lead generation company such as SingPost Admail. This company offers maildrop service to distribute unaddressed promotion materials such as brochures to business premises and households.
Alternatively, you can rent a database from one of the lead generation companies such as Ninja Emails and Wave Evolution and use it to do email marketing.
Free Seminars and Workshops
Inviting existing and potential customers to free seminars or workshops at different times of the year can help you market your products. During the workshop, explain the solutions that the goods or services offer to customers. You could also capitalize on these events by introducing new or upcoming products to the customers. For example, a company providing e-commerce software can hold a seminar in Clementi, Ang Mo Kio, Novena or any other city in the country to encourage businesses that conduct business online to use the software. Visit the Go Global website for a comprehensive list of events, seminars, and conferences that you can attend to market and learn more about the business realm in the country.
Partnered programmes are mutually beneficial associations that will help you save money on marketing and enjoy multiple streams of revenue. One such arrangement is the YouTube Partner Program that allows companies to use its vast online video platform for reaching more customers using their monetized content. The company offers YouTube analytics that aid in tracking and managing the performance of your content and keep track of earnings.
Write and Publish Blogs, Articles and Opinion Pieces Online and Offline
As mentioned earlier, the internet is one of the most trusted sources of information in Singapore. You can empower the public with information about your products and services by writing and publishing informative and engaging blog posts on your website. You can also post guest posts in authority site to drive more traffic to the main site. Guest posts are also very effective in boosting site’s ranking on search engines and domain authority.
Also, writing opinion pieces and submitting them to leading newspapers such as Lianhe Zaobao and The Business Times can help you engage with the target audience in a more direct and engaging way.
Social Media Marketing
Facebook, Twitter, SnapChat, and Instagram are some of the social media platforms that you can use to market your products to millions of people simultaneously. Facebook allows marketers to create free pages and place either paid or free ads on them. The Twitter business version can also help influence your marketing campaigns positively by letting you post ads on your profile. You can also post links and small marketing blurbs on your profile to engage with millions of people.
More Singaporeans have embraced photo-sharing social media platforms that have sharply increased the number of individuals who use Snapchat and Instagram. The number of individuals using these two platforms increased from 8% to 15% between 2014 and 2015. Therefore, posting photos of your products on either of these platforms will help you to engage with more customers. You can also display sponsored ads and hold contests on the platform to keep your followers engaged and interested in your company.
Affiliate marketing entails contracting independent marketers to sell your products and services through their websites, blogs, and social media channels in return for a commission. The Affiliate Gateway and Optimise Media are two of the leading affiliate marketing companies that you can use to scale up your online sales. Both companies have systems and platforms that they use to target different segments of the audience.
Taking Part in Charities and Sponsorships
A recent poll showed that 90% of consumers expect companies that they buy products or services from to give back to the society. You can strike a balance between conduct business in the country and being a good corporate citizen by participating in charities and sponsorships. These two course-related marketing strategies will give your company immense exposure in return for footing the event expenses.
You can also sponsor local sports teams to get more exposure when the team takes part in tournaments locally and abroad. Garena is one such company that recently sponsored Young Lions, a Singapore League football club. The company signed a two-year deal to support the team by providing $4 million. The team will be wearing t-shirts with Shopee brand name. Shopee is Garena’s first C2C marketplace that is mobile-centric.
Use Professional SEO & SEM Services
It is of paramount importance for all websites to comply with search engine optimized (SEO) rules to continue ranking high on Google and other search engines. High ranking results in more traffic and sales, as more people will get to know about your company and the products that it offers.
Go an extra mile and couple your SEO campaigns with SEM (Search Engine Marketing). Concisely, SEM is a new internet marketing strategy that entails promoting sites by increasing their visibility and popularity in search engine results pages through paid search ads, paid search advertising, Pay-Per-Click, Cost-Per-Click, and Cost-per-Thousand Impressions.
In most cases, the search engine ads are sold on a PPC/CPC and CPM basis. It is recommended to hire an online marketing company that specializes in offering these services to get maximum results from SEO and SEM. The service providers have the resources required to come up with a digital marketing campaign that resonates with your goals as well as software to monitor the amount of traffic and sales generated from each campaign.
A top digital marketing specialist in Singapore which excels in SEO and SEM is MediaOne. Call them at (65) 6789 9852 or email them at email@example.com to see how they can help. Apart from their high-quality work, a thing that really stands out about their service is its their unbridled enthusiasm in sharing their knowledge without trying to upsell their services. MediaOne firmly believes in helping businesses understand how digital media can help them – and in doing so, naturally obtains engagements when these business owners and marketers realise that it can be very intricate and time-consuming work to build up a good Internet profile.
Says Tom Koh, their Managing Director: “Being seen on the first page of Google is of paramount importance in today’s digital economy. We found that most people below the age of 35 do not read print anymore. Up to 90% of Singaporeans we surveyed said that they would check out a business online before they decide to buy or contact them – and these are not just B2C it applies for the B2B also.”
Mr Koh further added: “We help our clients increase their online visibility – 3 happy examples in particular are:
Comat, a popular corporate training firm, whom we helped increase first page keywords from 8 to an astounding 56 in 2 months using ethical SEO methods; Adrenalin an events company which jumped from nowhere to being top in the pecking order when people are searching for such services; and also Print City a digital printing specialist who complains (happily) that they can’t cope with the 40-50 enquiries they have a day due to limited equipment.”