Since the 1980s, Singapore has consistently mastered the art of using ICT to spur economic and social development across the country. Major sectors such as healthcare, finance, and education rely on ICT to scale up their business revenue and capabilities.
In the 21st century, the demand for professionals with strong coding and computation skills to develop computer software and applications skyrocketed. Currently, Singapore is home to more than 80 of the top rated 100 software companies in the world include Microsoft, Interush, Zopim, Google and much more. The fact that Zopim, a homegrown software company, powers Facebook Messenger Business application is clear proof that this industry has and will continue to grow.
Foreign and local software companies registered and incorporated in the country need to have robust marketing strategies. Here are three marketing tips for software companies in Singapore.
Have Open and Flexible APIs
The most successful SAAS products in Singapore have a flexible and open APIs that facilitate easy integration and collaboration with third-party software. They surround themselves with focused developers and have a plugin that is instrumental in promotion and development of third-party plugins.
This form of interoperability boosts the value of the software and at the same time creates resale opportunities and additional revenue.
Monitor the Software Dashboard
For a software company to be successful here, it has to set up key performance indicators (KIPs) for their products. Some of the most important KIPs are;
- Monthly revenues
- Monthly cash flow
- Customer acquisition cost ratio
- Annual contract value
- Customer Lifetime Value
All these metrics will inform their decisions and show if the software is meeting the demands and expectations of the customers.
Align Incentives
Create incentives that will motivate the salesperson and software developers. To get maximum results from these incentives, you have to align them with the set KPIs. For instance, you can decide to compensate the marketing personnel based on factors such as;
- Upsell and new customers
- Nonrecurring and recurring bookings
Finally, be actively involved in digital marketing to connect with 81.3% of the population that use the internet to access information and socialize through the various social media platforms. MediaOne can help you achieve this goal by providing top notch website search engine ranking services. Get in touch today by calling our support team at (65) 6789 9852.
