As a melting pot of diversity and opportunities, Singapore is continuing on the trend of being a favoured regional financial hub in the dynamic APAC region. We have no reason to doubt this as a recent study by the Asian Development Bank highlighted that the city-state ranks fourth in Asia as a market with the best startup ecosystem.
We at SalesWorks, with a track record in Singapore that stems all the way back from 1999, have seen this firsthand, of course, and have helped clients from varying industries boost sales and penetrate the highly competitive market – and we still continue to do the same today.
That said, while we understand that selling techniques vary according to the industry and product, and are comparable to the techniques used in most other sophisticated markets, it can be daunting for startups to go head-first into a robust scene such as Singapore.
So if you’re a startup owner looking to make it big in Singapore, you’ve come to the right place: we’ve compiled a list of seven proven sales strategies to help startup businesses succeed in Singapore.
This is what you’ll need to do:
1. Understand who your customers are
Identifying who your customers are is great (and an immense feat on its own), but what will get sales through the door is understanding what motivates them and how your product or service can solve their problems.
Go deep with the buyer persona research, as doing this correctly will save you thousands of dollars from marketing to someone who will never engage your business.
2. Start smaller
Singapore is home to more than 2,000 large, medium and small US firms alone. The market is demanding and competition is intense, but don’t let that deter you.
While we understand the need to stand out from the competition, we strongly advise you (and other startups) not to rush into it. Start smaller with niche target audiences and scale from there.
3. Get social through social media
As of August 2022, the number of social media users in Singapore has skyrocketed to 5.3 million. That is a good 89% of the total population of the country itself!
Plus, a study by JP Morgan found that 39% of the audience in Singapore relies on social media ads to discover new brands or products. This can definitely be used to your advantage; work with your digital marketing experts to build a customer acquisition strategy that leverages paid social media ads for a more efficient sales conversion.
4. Mobilise the local community
Influencer or affiliate marketing is a great way to get a headstart in the local scene. People buy from others in their community, and according to Statista, 37% of Singaporeans rely on word of mouth to discover new brands.
We’ve said it time and again, “People buy from other people”, and we highly suggest researching and reaching out to the KOLs (key opinion leaders) who can help boost your sales.
5. Content is king
Now that you know who your audience is and how to get them to the conversion stage, you need to ensure that your content game is strong.
Another word of advice from us is to not create or generate content for the sake of it. Be sure to put a lot of thought into it so that it makes sense and resonates with your audience because great stories don’t just move mountains – they result in sales!
6. Turn to technology
Turning to technology to scale can be hugely beneficial for you and your business. Accessible analytics and efficient operations are some of the areas of technologies that you can tap into, and they will certainly help you get a full picture of how you are performing and what it takes to achieve better.
Leverage the Singaporean government’s initiative to help SMEs adopt digitalisation through the Productivity Solutions Grant (PSG) to enhance your business’ growth.
7. Pivot to other methodologies, such as face-to-face marketing
With how stiff the competition is on social to also make sure you are offline. Face-to-face marketing is a great way to make a personal impression – almost everything is virtual these days, and face-to-face marketing allows you, especially if you are the founder of a startup, to raise brand awareness and build a network.
This is where a marketing agency like SalesWorks can step in. As the pioneer in introducing the concept of face-to-face marketing to various markets, SalesWorks has helped small companies grow and given larger companies a boost in sales – and we can certainly help your startup scale for success here in Singapore!
Face-to-face marketing and interactions create a personalised experience that leaves the customer feeling appreciated and increases the probability of a sale. Plus, long-term relationships can be established and developed by listening to the customer’s latest challenges and identifying the ways your product or service can help – which increases the likelihood of your startup becoming even more successful!
SalesWorks can help your startup scale for success
With our expertise and insight, the team at SalesWorks can effectively execute your campaigns and measure performance, allowing you to focus on the strategy for growth. Plus, we also offer face-to-face marketing training for you and your team members, should this turn out to be a huge part of your sales strategy (we highly recommend it!)
On that note, we do offer a custom service based on your needs and would love to get to know you and your goals better. Drop us a note so we can have that conversation about your business and how we can help you get where you’re headed as soon as possible!