The small island nation of Singapore has a lot to offer in terms of opportunities. Singapore harbors a multi-cultural society and enjoys the status as the most ‘technology-ready’ nation. The merits of having a business in Singapore are many, but getting the word out about your brand can appear to be very challenging.
So, you have your product (s) ready, have fulfilled all the legal formalities and are ready to set up shop. But, how do you introduce your new brand and start making it a profitable business?
Setting up your business is only half the battle won. Especially at the nascent stage of your business, you have a tight budget and almost nil customers. Frame a smart strategy that helps you get maximum ROI on a limited budget.
In order to spread the word about your new business, you need to market your brand and employ other cost-efficient tactics.
In this blog, we will cover 7 effective ways in which you can introduce your new business in Singapore-
Understand Your Target Audience
Develop an understanding of your target audience when you want to frame a strategy for marketing your brand. First and foremost, is your brand a B2B brand or a B2C brand? Accordingly, you can define which segments of the market you need to cater to.
What kind of products are you offering? A luxury B2C brand, for instance, is more likely to create campaigns catering to a particular segment of society. Doing a little research on your potential customers can help you go a long way in developing a fool-proof marketing strategy.
So, create an effective business marketing strategy keeping your audience persona in mind. In fact, your customer persona can help give direction to your strategy.
Build brand awareness in your local community (s). You can start by getting yourself listed with local business directories, and sites including Google.
Apart from that, you can look at local events, functions, and activities, where you can showcase your brand. You can also offer sponsorships at such community events, and get brand promotion in the form of flyers, posters, banners etc.
Offering freebie samples is another way you can get potential customers to know about your brand. This will help in word-of-mouth marketing, as well.
Take initiatives to hold talks and deliver discussions on subjects relevant to your brand and/or industry. This can help you establish your position as a source of knowledge in the industry.
One of the most cost-efficient strategies to market your brand is by going online. According to recent statistics, 84% of the population of this small island nation is present and active online.
So, why not leverage these numbers to your benefit? The best thing about building an online presence is that it allows you to market your brand in a cost-efficient manner.
Get started by creating a website for your brand and power it up with a blog. In order to enhance your presence online, you must optimize your website for search engine rankings. Follow relevant SEO practices to rank on the top on search engine platforms such as Google and to get discovered.
Find out which media houses and publications will help you get exposure to your target audience. Send out press releases to such online publications to further spread the word.
The power of social media cannot be underestimated. Almost 79% of the population in Singapore is active on social media platforms. In fact, social media offers an organic platform to market your brand along with paid marketing and advertising options.
Create your brand page/handle on top social media platforms including Facebook, Instagram, YouTube, and Twitter. Each of these platforms has big user bases and if you aren’t already building a presence here, you are missing out on a very lucrative opportunity to build a community of potential customers.
Produce good quality content to share with your target audience. Enticing your audience with good quality content is the first step towards building a connection and generating engagement for your brand.
Dig Into The Data Behind Your Content
Putting out content on social media platforms is important. At the same time, it is important that you keep track of your performance. Are your efforts really paying off?
Use a good social media intelligence tool to track the relevant data behind your brand performance. Based on the insights and intelligence derived, you can frame strategies that help you generate the maximum ROI on your time, money and efforts.
Learn from your competitors. Find out what your competitors are doing to market themselves on social media platforms. Use a social media competition tracker to monitor competitor activity and inculcate practices that are helping them win over their audiences.
Run Brand Advocacy Programs
There is nothing more powerful than a good peer review. The audience is highly driven by fellow consumers’ feedback about certain products and/or brands.
Tap into the power of word-of-mouth by asking customers to share their feedback, and leave out reviews on digital platforms.
Since most of the population in Singapore is online and actively using social media, you must capitalize on your social media presence.
Millions of conversations happen on social media platforms every day. Every conversation about your brand as well as about keywords or topics relevant to your brand can hold important cues.
Use a social listening tool to listen to all the conversations happening around your brand and/or relevant keywords. This will help you stay on top of your audience’s opinions and sentiments and point out the common themes and patterns from these conversations. You can also find out who all are speaking in favor of your brand and bring them on board as brand advocates.
Here’s another tip on how you can introduce your new business in Singapore. Collaborate with brands as well as with social media Influencers. Look for brands that offer products or services that complement yours and build exciting experiential events, for instance.
Summing It Up
The nascent stages of a business are the most challenging ones. You need to build awareness about your brand and that too at a minimal budget. In order to do this, you need to apply the right mix of online and offline marketing strategies, and back it up with steps that help you stay on top of your game.
So, what are you waiting for? Get started by following these quick tactics to introducing a new business in Singapore.