Working from home is no longer a dream for people who want to break the cycle of 9 to 5. Since the Internet and mobile capabilities are opening up more doors of opportunity, aspiring Singaporean entrepreneurs may want to choose a business idea that suits them and then go for it. In some cases, the only thing that stands between a new online business startup and an individual going forward today is choosing the right business idea.
So, if you are interested in working online, here are 22 Singapore home-based business ideas that you may want to consider as a possible option for you.
Graphic Design Business
If you are a graphic designer or simply possess the skills to do this type of work, you may want to set up a home-based graphic design business. Because the demand for this kind of business is presently high in demand and the future of this profession seems promising, this may be a great choice for you.
This is especially true for individuals and companies alike that need creative people that can assist them in communicating their messages in a non-verbal form. For instance, because new and established companies need logos, innovative graphic advertisements, and search engine optimized websites, you can provide these services from home with very little overhead.
Typically, the most expensive business cost for a new graphic designer is usually the price associated with the design software. Aside from this, the only thing that an online graphic design business really needs is a dedicated computer that is attached to an internet connection.
If you happen to be good at writing and communicating ideas and information to others, you may want to consider launching your own copywriting business.
This is a business that is also high in demand online and in brick and mortar companies too. Therefore, Singapore companies are often seeking out writers who have the expertise to create sales copy, including advertisement ads, engaging content for websites, direct mailings, commercials, newsletters, and many other kinds of essential communication.
Normally, the basic requirements for this industry include Singaporeans that have a degree in communications, advertising, marketing, or English. However, it is also important to note that an excellent writer can do a great job in starting this type of online business.
Virtual Assistant Business
If you have worked as administrative assistant for a small business or a large corporation, you may already possess the skills and experience to become a virtual assistant. Since virtual assistants can work for one company or more than one client, this is also an excellent business idea to start. Because a virtual assistants job is to handle all kinds of different small tasks as well as large projects, they can assist clients with the work that needs to be done. For instance, when a client in Singapore needs someone to work for them on a regular basis, they may take on the full responsibilities of answering all of their emails, completing data entry assignments, scheduling appointments, managing a blog and other daily functions including completing their online shopping needs. Actually, virtually anyone who has administrative skills can work from home as a virtual assistant so it is an excellent choice for many. Furthermore, if the work for a virtual assistant becomes too time-consuming, the online business owner may choose to hire other virtual assistants to assist with completing the work done.
Marketing Consultant Business
Marketing is an essential part of any small business or a large corporation in Singapore. Since their primary role is to make sure the business has large numbers of customers to serve, these professionals are often paid very well for the services that they offer. Therefore, the advice that they supply is normally more than worth it when the marketing campaigns that they deploy are successful.
For instance, if a midsize to large company launches an online campaign, they can assist the owners and their representatives in developing and an effective email marketing strategy that keeps their target audiences engaged.
One of the most effective and most profitable usually involve generating more sales by sending out incentives like digital coupons, freebies, and other things through email. In fact, a successful email marketing campaign will keep a loyal customer base returning to the site again and again.
Also, these professionals are also responsible for ensuring a business’ website is designed with successful SEO and SEM strategies. Therefore, starting a marketing consultant business is a great way for an individual to utilize their experience online, while also generating revenue for their own marketing consultant company.
Another interesting profession that was birth out of the Internet and its creative functioning is the profession of blogging. Today, blogging is not only a side job that an individual does for themselves and their personal interest, a blog can be used for many different things and reasons.
Specifically, since blogging businesses can perform these duties for small businesses to large corporations. This is because blogging can serve a diversity of purposes including assisting with complementing a successful social media network campaigns for the business. Therefore, if you are interested in starting your own blogging business, you may want to consider one of the following options.
- Freelance Writing for Blogs
- Operating Your Own Blog for Profit
- Serving Corporate Clients to assist in Meeting their Goals and Objectives
Internet Security Consulting
If your expertise lies in the area of internet security, this is also prime time for starting your own online business. In particular, if you are considered to be a technical savvy professional that understands how a company’s internet security should work to avoid online hacking. Just like the big-name companies, no business can afford to be hacked and their information leaked to the public. Therefore, an internet security consulting company for hire is an excellent option for small businesses too. So, if you want to make your skills and expertise available for businesses in Singapore, you will find that your business services are not a luxury to many but a necessity.
If you’ve ever thought about investing in real estate, then you may be interested in buying and selling domains. Just as in real estate, there are some domains that are more popular and valuable than others. You could easily purchase these domains at auction for low prices and then sell them to the highest bidder for a nice profit.
This business takes a significant amount of time and attention to what is going on in the market. It also takes a certain amount of SEO research. By knowing how well-optimised the site is, you will be able to better predict which niches and companies will result in the highest profits. For some domains, it can take several months, or sometimes years, to get the price you want. However, the benefit is that it can all be done online and from the comfort of your home.
Perhaps you are someone who enjoys traveling. If so, then an online photography business may be ideal for you. You can document your journey in the form of photos and then sell them online. You could create a website or store that is specifically dedicated to your photography.
You could also sign up for a website that will sell your images for you. Sites like Shutterstock and iStock allows you to list your images for a certain price. When it sells, you earn a commission. If your images are especially good, you may be invited to join exclusive websites were commissions are higher commission rates.
Is there a subject that you are particularly knowledgeable about? Do you have the standardised tests and scores to prove it? Do you get satisfaction out of seeing people achieve their goals? Well, you may be the ideal online tutor. If you’re someone who enjoys helping people solve problems, then you can share your knowledge with clients over the phone or video chats.
Work with your clients to ensure that they know all of their testing materials inside and out. The better their test results, the better your reputation and the larger your clientele. You can either charge per session, per package, or per hour. Your fees will be based on your reputation. And the more you can charge per hour, session, or package.
If you enjoy predicting trends and performing deep research, then you will probably love stock trading. Depending on the type of trading you’re interested in, it may require that you keep a certain amount of money in your account at all times so in some cases. And this means that it could require a significant initial investment.
Unlike the other businesses mentioned on the list, stock trading is not as flexible. While it does give you the ability to work from home, it will take a considerable amount of commitment, long hours and it comes with a huge learning curve. You’ll need to understand systems, trading requirements, and regulations. However, if you can get over the initial hurdles, it can really pay off.
Social Media Marketing Manager
While social media platforms may be primarily associated with connecting with friends and family, it can also be the door to a great career. As websites like Instagram, Facebook, and Twitter become more and more apart of our everyday lives, many entrepreneurs are finding new opportunities as social media marketing managers. There are several businesses, both online and offline, who use these platforms to sell their products and services. And they understand the importance of hiring an expert to run their accounts so that they see as much engagement as possible.
Social media marketing managers help to build a sense of community among online followers. They work to give the brand a personality and presence. So if you are someone who is skilled at creating a memorable social media presence and you know how to drive traffic, create a buzz, establish a reputation, and appeal to almost any audience, then this online job may be perfect for you.
One of the most important parts of any online business is search engine optimisation, or SEO. This is the practice of increasing the quantity or quality of your traffic by obtaining high rankings in the search results. And this usually requires the proper use of certain keywords.
In fact, many companies often hire individuals who can help them make it to the top of Google’s SERPs, organically. If you are someone who is able to craft excellent content that adds value to the industry and is interested in the technical side of optimising a website, then the position of SEO specialist may be just the online job for you.
PPC Ad Manager
No matter what industry a company is in, it will always be in need of advertising. This is especially the case if you want to get an audience’s attention online. In many cases, there are thousands of business like yours on the web, so you need a way to stand out. Many businesses use pay per click, or PPC, advertising to give them the marketing boost they need.
PPC is an online marketing model in which companies display their ads and pay a certain amount each time the ad is clicked on. While this may seem relatively straightforward, it takes a great deal of research, testing, and planning in order to get the most out of this strategy. And companies are usually willing to pay top dollar to the individuals who can do this effectively. If you are someone who has an interest in learning more about ad platforms, on Facebook or Google, then you may be the ideal candidate for this online job.
If a company wants to ensure that its website is well-designed and well-maintained, then it’s important that they use web development skills. However, given that this requires the use of very specialised and complex skills, companies often enlist the help of a third party. These third parties are ref erred to as web developers.
Web developers are software engineers. They design, code and modify websites– from their layouts to their functions. And they do all of this according to the specifications of their client. Their top priorities are to ensure that the site is visually appealing sites, user-friendly, and easy to navigate. This position gives you the ability to be creative, conceptualise and design websites from start to finish. It also gives you a large amount of flexibility and you never stop learning. So if you are interested in creating the ultimate user experience and have, or are willing to learn, the technical skills that this position requires, then the position of a web developer may be perfect for you.
While there are many jobs in the medical field that require you to show up in person, there are also those that can be done online. One of these is a medical transcriptionist. This position requires you to listen to recorded medical dictation and transcribe it to text. So if you are interested in getting experience in medicine or would be willing to certain programs and get certification, then the position of medical transcriptionist is for you.
Though vacationing can be a relaxing time, making plans for your vacation can be very stressful. This is why many people choose to enlist the help of a travel agent. Even more convenient, many choose to work with online travel agents.
As an online travel agent, you will simplify the process for your customers. You will help with travel plans such as booking their flights, cruises, hotels, and rental cars. If you have experience planning tours and are well organised, then consider becoming a travel agent.
It’s very important that companies keep a close eye on all of their finances. And in many cases, this will require the expertise of someone who is familiar with accounting processes. A lot of business owners prefer not to handle this task on their own so they employ a bookkeeper. Bookkeepers are responsible for recording business transactions. They record things such as purchases, sales, collection of accounts receivable, payroll, payment of bills, etc.
This online position requires that you have knowledge and experience working with accounting software. So if you are organised, are interested in accounting, and have administrative experience, consider becoming a bookkeeper.
Print on Demand (POD)
Speaking of passive income, the Print on Demand (POD) business is something worth exploring. You don’t need to have anything printing equipment to start a T-shirt printing business in this era. Thanks to POD websites like Shopify and TeeSpring, you don’t even need to keep an inventory of the shirts you designed. Speaking of which, you don’t also need to have excellent design skills to start a T-shirt printing business, although it does help! There are lots of shirts that have just one word printed on it, and they’re selling like hotcakes.
POD stores often have a platform where you can design your T-shirt and then retail it from your account. If people like what they see, they will click to purchase. That’s when these POD business’ in-house factories will start printing using their state-of-the-art technology, accompanied by their logistical process, to deliver the T-shirt to the buyer.
Many POD stores have expanded their range of products beyond T-shirts. You can even start customising caps, mugs, tote bags and also face masks!
There have success stories of people becoming millionaires after starting a print on demand (POD) business. However, the journey to such success doesn’t come overnight.
Firstly, you have to think of a specific market or niche to serve. Unless you have a big operation, you cannot be tackling every single market.
Following which, you will need to think of how to reach out to your target market. You may need to spend quite a lot on marketing on Facebook ads to attract buyers. The top POD sellers have admitted that marketing on Facebook ads is a trial-and-error process. Not all marketing Facebook ads campaign will succeed during the first try, which means you will have to set aside a budget for your marketing needs. Otherwise, you have to build up a social media following before you can witness some sales success. It may sound tedious, but once you’ve acquired a loyal following, it will be easier for you to sell anything, not just T-shirts!
Most importantly, do get lots and lots of education on how to create a successful print on demand (POD) store. There are several YouTube channels, such as Wholesale Ted and Joe Robert. They provide valuable tips on how to succeed in this business.
If you have some knowledge to share, why not compile it into an e-book? E-books are a new way of reading. They are accessible anywhere, and can also be updated regularly, unlike paperback versions. This trend is here to stay.
People are always craving for new information, be it health, relationships or even how-to-guides. If you know how to compile the top online businesses to start, you can also organise them into an e-book.
Wait a second. Bye guys! I’m off to start my e-book business!
Of course, I’m just kidding. It isn’t a one-step-to-profits business. Like the Print-on-Demand business, you have to do your research. For that, you need to identify your target market and find out what sort of information they need. Remember, you’re building up a following here with this business. If they like your first product, it’s easier to sell them the second.
Besides writing and then selling your e-book online, you can always approach big corporations or coaches. They often publish e-books and other free downloadables for them to build a pool of new clients. Yet, they may not have the time to write them.
If you have the chops for acting and imitating accents and characters, voiceovers can be a fun and fulfilling business!
There is a demand for voiceovers locally and internationally. Aside from commercials and animation programmes, there are lots of corporate training videos that require a friendly voice to guide them through the learning journey.
If you intend to start a voiceover business, be prepared to set aside around $300 for a quality microphone that cancels out all ambient noises. You will also need to learn how to edit your demo reel on Audacity, which is a free software for sound and music editing.
Run an E-Commerce Store
There is an abundance of platforms where you can sell items to people around the world. No longer you need to bear the costly overheads of a brick-and-mortar, you can just list your products for an affordable monthly fee or even free!
However, bear in mind, you’ll have to source the inventory and ship it to the platform’s warehouse before you can start retailing it. Sourcing for your items also means that you’ll still have to set aside costs for it. Besides, you would also have to invest in time and even money to learn how to get your products out to your target audience. Yet, before you start doing all of these, you’ll have to do lots of research on the kind of products you wish to sell. It’s pointless purchasing loads of products when no one’s buying.
If you don’t want to be weighed down by the inventory costs, you can try dropshipping. This is a fulfilment process where a customer orders a product from a retailer, who then transfer all the customer’s detail to their supplier. The supplier will then ship the item directly to the customer on their behalf. There’s no inventory, and your focus is just on marketing the supplier’s products to their target customers. Without an inventory, you are also free to capitalise on trends and festive seasons to sell different products.
However, dropshipping isn’t free of issues. Keeping track of the inventory can be challenging since you’re not the one shipping out the item. Customers are prone to order out of stock items, especially if the product gets popular overnight. If the supplier messes up during any stage of the logistical process, your reputation will be on the line. You’ll also have to be patient with earning big bucks during the initial phase. Dropshipping is a very competitive business, and it’s possible that you may have to lower your price to stay in the game.
Regardless of the type of e-commerce business you wish to start, getting an education to build a strong foundation is paramount. Fortunately, several e-commerce platforms, such as Shopify, offers free training courses to help you get a headstart. Yet, the learning will never stop as you may also need to stay fresh with the latest developments of each e-commerce platform. Lots of people around the world are trying to get a piece of the e-commerce pie. To rise above the sea of people selling similar products, you’ll have to develop strong business acumen along the way.
This is an opportunity to fuse your passion for exercise with making money. You don’t have to be physically present with your clients as you coach them. There are also other ways you can package your yoga, pilates or weight lifting training programme and sell it. The realm of fitness is ever-changing, which means you can be creative to start your fitness trend and franchise it out!
Additionally, you can create recipe books and include it as part of your package. If you have a large following on social media, there are lots more you can do! Consider bundling your fitness training business with an online T-shirt and sportswear printing business! Inspire enough people, and there will be lots of them who will proudly wear a shirt with your fitness movement printed on it.
How to Start An Online Business In Singapore
Technology has significantly changed the way Online Business are run. E-commerce is steadily growing and we can predict that in future most businesses transactions we be done on the internet. When shopping brands like eBay and Amazon emerged more than two decades ago, many people saw them as passing clouds. They have grown so much that major industries such as food &beverage, fashion and technology have online stores where customers can easily purchase items.
The Great Leveller For Businesses
The internet has made the business playing field level. With a computer, you can start an online business to earn yourself some cash. This does not require any technical experience or programming knowledge. You don’t need much knowledge to be able to develop your business websites. The internet has provided entrepreneurs with a common medium in which you work at your own pace according to your business ambitions. More so, there are lots of free services making it easy for you start your internet business with no money or a little start-up capital. For example, you can use WordPress to set up a blog or website for free or use the third party such as eBay or Amazon to sell your goods. You will give them a cut of your sales in return. There are some steps that you can follow for your new online business in Singapore to be successful. This article will go through how to start an online business in Singapore.
Singapore’s Digital Marketing and Market Size
Technology has developed digital tools that utilise online presence as a marketing platform. The program is offering equal chances to both big and small company brands to market their goods and services. Singapore is one of the top countries that has dramatically welcomed online business marketing developments. In 2018, it obtained the world largest segment in search advertising. Recent research statistics in Singapore revealed that about fifty-five percent of the population accessing the internet use their google to search or purchase products. While most of the Singaporeans ranging at 3.2 million access the internet through mobile devices, the online digital usage is generally high in Singapore. The small and large company are turning to digital marketing as the statistics reveal of how Singapore has become highly digitalized. With these vast developments in Singapore, you should not be left behind in starting your online business.
E-commerce in Singapore
In Singapore, businesses should adopt e-commerce if they want to gain success in the years to come. Why is this so? Singapore has a total population of 5.6 million, of which 4.7 million are active daily internet users and 2.9 million have used e-commerce at some point in their lives. This means that there is a huge market out there and smart businesses should dive in early enough. The only problem is that SMEs face challenges like time, experience and limited resources.
For a business to succeed in e-commerce, there is need for third party web store builders who are instrumental in tackling issues like collection of customers’ data, attractive web design, security of payments and optimised delivery schedules.
Having an online store has tremendous advantages. Most customers love the convenience that comes with purchasing products online, considering that online stores are usually open 24/7. All that they require is either a smart phone or a laptop and the product is delivered right to their doorstep. In order to grow your businesses, e-commerce retailers can keep track of their customers’ habits and offer services that satisfy their needs. This will ensure the retention of these customers.
Setting up an online business
Believe it or not, starting your own online business is pretty simple. However, a key part of your success is knowing how to move efficiently. If you are a Singapore entrepreneur and are interested in exposing your products or services to millions of potential customers, then here are seven things that you need to do in order to quickly get your website up and running.
1. Identify a specific need
The biggest mistake that people make when starting an online business is looking for a product first then the market. You need first to establish the vacuum space in the current market for you to have higher chances of success. For you to carry out this market research, visit online website forums to establish the questions people ask frequently and the problem, they want to solve. You can also do keyword research in a move to determining the keywords most people are searching while not many sites are providing. Lastly, you can visit the websites of your potential competitors and see what you can do better. This way, you will come up with products that have an already existing market.
Here’s what most people do when starting their online business. They look around for a product that they think will sell well. And then they look for an audience who is most likely to purchase that product. This is the wrong approach. Instead of looking for your product first, look for your audience first. You need to be on the lookout for a common problem that people are having. What solutions are people searching for?
You need to conduct a market research and analysis in order to determine if the idea you have come with can be used to develop a good business. This is a crucial step because when you dive into the business without proper planning, you may end up losing your hard-earned cash. Once the process is complete, you can easily tell if the idea is okay, needs a little tweaking or isn’t viable.
After identifying an idea to work on, find out how you will satisfy the needs of your potential customers. This can be easily done by visiting forums and reading through all of the posts and comments. You can do a keyword search to find the terms and phrases that people are looking for in Google’s search engine. You can even visit your potential competitor’s site and find out what demand they are filling. You can then use all of this information to come up with a product or services that either has very little competition or is in very high demand or both.
Before beginning operations, it is advisable to incorporate your business. This step is vital because the type of business structure you pick will determine your ability to raise capital, exposure to liability and your taxes. A significant number of entrepreneurs are in favour of a private limited company because of its numerous advantages like: perpetual succession, limited liability, credible image and a legal entity status. In addition to that, registration of a private limited company in Singapore is a quick process that can be done within 24 hours. Remember to have in place the necessary infrastructure such as operations & customer support, web design & development and website marketing & advertising before you begin.
- Overview of the e-commerce industry in Singapore
Before you start an online business, consider doing a little research on thee-commerce industry in Singapore. Most Singaporeans have access to internet at home and prefer to order items online rather than physically get them from retail shops the traditional way. Many aspiring entrepreneurs are opting to launch their business online. A 2011 MasterCard Survey revealed that 2 in 3 Singaporeans Access the internet to shop online.
In a Nielsen survey (2011), of the 85% of Singaporeans who were active social media users, 69% used it to connect and engage with brands and companies. These statistics indicate that more Singaporeans are opting to conduct business transactions online. Studies show that the most commonly sold items are: apparel and fashion accessories, health and beauty products, music, toys and games, books, office supplies, consumer electronics such as cameras and computer hardware & software.
Most online businesses in Singapore have gained tremendous success because of various factors. One is flexible payment methods, where a majority of buyers use internet bank transfer rather than PayPal or credit cards. Secondly, there is a high demand for niche products. This includes products that cater to specific audiences/communities and international products which are not readily available in the local market.
Thirdly, Singaporean online businesses are famed for their reliable logistics services. For instance, products are shipped to local and overseas customers in the shortest time possible. This strengthens the relationship between buyers and e-retailers and boosts sales. Lastly, secure electronic transactions are also a factor. Most online buyers trust e-commerce websites which have a TrustSg mark.
2. Write captivating copy
So you’ve found the perfect product or service. Now it’s time to create the thing that will draw people to your website so that they can learn more about what you have to offer. You can begin creating copy. But you shouldn’t write content that simply sells what you have to offer. It has to be something that people will be captivated by. It has to be useful and compelling. Luckily, there are a few things you can do in order to make sure that your copy grabs your audience’s attention every time.
You should use headlines that are compelling and that arouse their interest. You can describe the problem that your service or product solves. You can add testimonials from people who have benefited from your business. You can create a sense of urgency within your content.
Research has come up with a well-proven sales copy formula. The sales copy drives the visitors throughout the marketing process from visiting your website to making a purchase. Firstly, use a compelling headline to arouse the interest of your visitors. After getting them interested, clearly, state the problem solved by your products. Establishing credibility to your online visitors is crucial. This can be achieved through the use of testimonials from the people who have previously purchased your product. Blog posts and articles about the importance of your product could as well promote your customers lead conversions. Other components of sales copy formula include making product offers, establishing a strong guarantee, creating urgency and asking for the sale. Simply, your business sells copy should primarily focus on the benefits of the products to the consumers.
3. Build your website
Now that you have crafted winning content, you need a place where the content can be featured. Your website is going to play a huge role in attracting clients. And if you’re not careful, it could also play a role in scaring them away. So it’s important that you invest time into creating a website that is user-friendly. One of the best design tips you can implement is simplicity. Make sure that you don’t add anything to the site that will distract the users from your main message.You might want to check this out if you’re at this stage.
A simple website design is one that makes good use of white space. There are only one or two fonts. The navigation is very clear and is the same for each and every page. Only use graphics if they help to further promote your main message. Include an offer so that your visitors can submit their email addresses for your mailing list. Also, make sure that your checkout process only involves one or two clicks.
To come up with a simple and customer friendly business website, take two plain fonts on a white background. The online visitors should be able to navigate through all the website pages easily. In case you upload audio, graphics or video, they should serve the purpose of enhancing your message. Additionally, you should provide an offer for those who sign in to your email listing. You have to keep in mind that the visitors are on your website for less than five seconds. Making your site easy to buy from customer friendly.
4. Drive traffic with search engine marketing
When you’re trying to promote a brand new website, one of the easiest ways to get traffic is by using PPC, or pay per click advertising. And there are two major advantages to using this form of advertising.
PPC (Pay-per-click) provides best and easiest method of driving traffic to a new website. Instead of organically waiting for your site to have traffic, PPC services can be of great help. The PPC ads immediately show up on the search pages. Additionally, it enables you to test different headlines, keywords, prices and selling approaches. In this way, you will be able to know the highest converting keyword which will work best for your business. You can then use the keyword in the different sections of your website in copy and code. This technic will give you immediate traffic and higher ranking in search engines.
You can then use this keyword information in your headlines for your organic marketing, or SEO. While PPC can cost a lot. SEO has very little cost involved and by combining these two strategies, you can earn a significant amount of traffic. If you’re not exactly sure how PPC and SEO works, you could always work with a digital marketing agency and get a consultation.
5. Become an authority
One of the biggest reasons why people use the internet is so that they can find information. So if you would like to get more traffic, then you need to be able to provide them with this information. Not only that but this information should be valuable–something that makes their life much easier. And it’s best that you give away as much information as you possibly can, for free.
Search for websites that focus on topics that are related to your niche. You can either ask them to share your content with their audience or offer to write a post for free on their website. In many cases, these website will be glad to link to your content, as long as it offers value. Just remember to include a link on whatever website you choose to give the information to. Google loves backlinks.
Look for ways to make people’s lives easier by creating guides and tutorials. You can distribute this information through article directories. You can even give it away on your social media platforms and ask others to share it. Hang out with your target audience, offer them helpful advice, and you will soon been seen as an industry expert.
Most people see the internet as a source of information. Producing expert content is one of the ways of getting people to visit your site. Give the information for free to other sites to expose your expertise to the broader majority of internet users. This will result in a better search engine ranking and more traffic to your site. Remember always to include a link to your site with each video, article, blog or any other content you create. You can also provide “send to a friend” links for valuable contents. Upload these contents throughout social media platforms and directories. Moreover, you can prove expertise by actively participating in social media forums that carry your target audience. Getting quality backlinks for other sites for your post is the best source of search traffic to your website. Google gives a higher priority to link to website posts and ranks them higher. The secret is writing great content that will move other sites. In this way, they will share the content on their platforms increasing the chances of getting quality backlinks for your posts.
6. Use email marketing
Email marketing is a more effective and cheaper method of promoting your online business as compared to radio, TV or print. An email listing is a valuable asset for digital marketing. Your visitors permit you to send them your business email. This is of great significance as you will send them what they have asked for, it enables you to develop a lifetime customer relationship, and the response is a hundred percent measurable. Email is the best way to follow up potential customers to keep them revisiting your site.
Whenever someone signs up for your newsletter, this means that you now have the permission to reach out to them. And this gives you the ability to cultivate a long-term relationship with your audience. The great thing about email marketing is that it gives you access to a large amount of people who are interested in what you have to offer and it costs little to nothing. Your email list is the best source of leads you will ever have.
7. Make back-end sales and upsales
The tricky part in online marketing is closing the first sale. However, you need the customers to come back for more products for your business to grow. You need to follow up with them through back-end and to upsell to increase your income. This is done by either offering complementary products for previous purchase, offering related products on the thank you page or sending out electronic loyalty coupons for them to redeem during their next visit. Make your customers more loyal by rewarding them.
One element that a lot of Singapore business owners often overlook when developing a new business is estimating how much each of their customers is worth. More specifically, they do not take the time to estimate their customers’ lifetime value. Research shows that almost 40% of the people who have made at least one purchase from you will inevitably make another purchase from you in the future.What does this mean? Well, it means that the most difficult and crucial part is getting someone to buy from you for the first time.
So this means that you need to become a master at upselling. You have a special opportunity to make more sales by promoting products to those who have already made a purchase from you. So make sure that you reach out to former customers. Let them know that you have products that will be a great addition to the one that they have already purchased. Send out special coupons to your most loyal clients and let them know that they can be redeemed upon their next visit. And always offer related products on your thank you page.
Online Businesses That You Can Start with No Money
Once you start up your online business by following the discussed steps, the internet has many online ways of making money at a little or no cost. This article will guide you through the top five best ways of making money online.
Online Drop Shipping
When starting up an online business, you have no substantial amount of capital to maintain a large inventory, owning a warehouse for your products or manufacture products. This is why working with a drop shipping company is a perfect strategy for you. Upload your products on sale on your website or other selling on platforms such as eBay or Amazon. After your customers buy the product, you purchase the product from the drop shipper at a lower price. The process simply involves forwarding the customer order to the third-party company. The drop shipper will deliver the product to your customer. This strategy involves no risk plus you can deal with a wide range of products. However, drop shipping requires a super reputable drop shipper as customers blame you for low-quality products and late delivery. You can use a private label to make a different brand for your products in a bid to reduce the high competition.
Want to get money while you rest? Affiliate marketing is how you can get started. Affiliate Marketing revolves around the concept of promoting products of other people through an affiliate network. You afterward earn a commission of the products bought courtesy of your marketing. For those who have products that they want to sell more, they can offer a financial incentive to promoters through the affiliate program. This principle is based on revenue sharing. You don’t have to worry about maintaining your products inventory or shipping products. Every product has its unique link tracking back to website account of affiliate partner. The customers are taken to partners shopping cart for check out. After the purchase is recorded, you will be given a commission varying depending on the affiliate partner. This can range from five percent to fifty percent. Your only role is handling the marketing for your prospects to buy.
Blogging involves making money from a subject you have passion or expertise on. It is easy for you to start your blog site and personal hosting for a low price. Other than writing, blogging also involves posting photos, links, videos, and reposting news to other sites as long as its related to your niche. Your blog should provide unique and useful content that is rarely found on other sites. Moreover, you should upload new blog posts regularly and consistently to maintain your readers base. The different methods of earning money through blogging include Google AdSense, affiliate marketing and blog ad networks.
YouTube is one of the world most popular website with millions of videos for its more than a billion users. This provides a perfect platform for you to earn money by making a good video and uploading it on YouTube. To maximize your video YouTube views, the video should contain useful content that will make people want to watch it. You can choose a specific niche and make a video on what a target audience want to see. Create your personal YouTube account and start uploading videos. Enabling monetization on your YouTube settings allows Google to include short AdSense ads with your videos. You get paid when viewers click on those ads. You should make sure that you post our videos on other social media software including Facebook, Twitter, and Instagram to extend your reach. Having a large following gives you an opportunity to promote large companies through paid sponsorships.
Online internet business is not all about the marketing of physical products. Digital information products provide a quick and easy way of making money outside affiliate marketing. The most famous methods of developing information products include audio as a recorded teleconference, video as a recorded webinar and text as an eBook. These categories provide a creative platform for you to make any type of engaging content. You just have to upload these products for sale on your website, and a customer will buy and download them at any time. You can periodically check for the information products selling best to make more of those.
Regulations in the e-commerce industry
The Singaporean government provides rules and regulations that govern online businesses in Singapore. Some of the regulations include:
- Consumer protection regulation – an example is the Sale of Goods Act which states that goods sold should be of good quality.
- Protection and Security of Digital Data – the acts in this category covers issues like security of credit card payments and protection of personal information.
- Intellectual Property protection in the Cyberspace – Under this there is the Copyright Act which protects anyone other than the owner of the copyright from publicly distributing, copying, adapting, broadcasting and reproducing the work.
Anyone running or planning to open an e-commerce business in Singapore must know the tax requirements. Singapore has a liberal tax regime that provides plenty of incentives to SMEs. Taxes that apply to online businesses are categorized into two: Income tax and Goods and Services Tax (GST). The application of income tax depends on the following factors – residence, source and income classifications.
On the other hand, Goods and Services Tax, commonly referred to as Value Added Tax (VAT) in some countries is a tax (indirect) levied on the supply of goods and services in Singapore and the imported goods. Its application is on the selling price of goods and services in Singapore. A business must be GST registered in order to apply this tax. One of the rules for e-commerce businesses is that if a local buys goods online, they will be subject to GST.
Financial Assistance and Funding
With more Singaporeans making business transactions online, many people are planning to start e-commerce businesses. These online businesses can be quite expensive if you factor in expenses like merchant account fees, website development fees, marketing, and inventory costs. It is common to hear of investors who are willing to fund promising e-commerce ventures. The Singaporean government is supporting this industry by installing the necessary infrastructure and proving incentives to aspiring online entrepreneurs.
- Business Loans – this is where one acquires funding to kick-start their business venture through debt financing. If you choose this type of financing, you will be able to retain ownership of the business. The only problem is that you will be required to pay your lender regardless of whether the business becomes a success or not.
- Venture funding and Angel Investing – In this type of funding an investor/group of investors offer capital in exchange of shares in your business. It is especially great for budding entrepreneurs who cannot acquire traditional loans.