How to market a start-up in Singapore

Singapore’s entrepreneurial stage has been set as a promising hub with enough buzz to re-launch a nineties boyband back to stardom. However, with only 778 km of highly urbanized land mass and five million consumers at best, you had better be selling the next best thing since the iPhone.

In a commercial landscape where business development is facilitated for entrepreneurs and internationals, the prosperity expected does not always actualize. A new business owner will reassure himself, “I’ve got something different. I am positive everyone will notice it.”

By the time he realizes “I can’t do this myself,” it is often too late. Prospective consumers have already taken off on the plane of opportunity.

The average Singaporean consumer is regularly subjected to a myriad of marketing ploys. From roadside promotional stunts to a social calendar full of free events, buyers are spoiled for choice, privy to privileges for nearly everything consumable.

So how does a start up even begin to get their name out? Before you start handing out membership cards and free ice cream, complete the steps below and save yourself money in the long run.

1. Invest in your personality- complete a thorough brand review with focus on the details. The logo, font, colors, website, business cards, it’s more important than people think. A brand consultant can pinpoint areas of focus and facilitate what needs to be done.

Most entrepreneurs rush through this phase to get to the consumer faster. However, making the initial investment equates to money saved when having to rebrand six months down the line. These pillars stick throughout the life of the business. Make sure they are right.

2. Communication the right way- work with someone (a freelancer or PR agency) who can help customize key phrases, an informative press release, and a communication 101 kit that will equip you for optimal media success.

A professional will help build an up-to-date media list so you don’t have to go digging. He will also be more of a trusted source when having one shot to pitch this ‘interesting new idea’. A proper PR push will garner helpful, free publicity from the get-go.

3. Develop the right channels- Determine what will create the most traction for your buck. As much as you would like to spend on print ads, a FB campaign and a launch event all in one go, budgets get in the way.

Be picky. Social media engages people instantly and becomes a cost effective way to get the word out. Once you’ve got step 1 and 2 nailed down, start building up your social media as you continue to execute your promotional plan.

Use targeted advertising mediums based on your demographic and product, not just visibility and reputation. Investing in a TVC won’t necessarily garner you more response than a blogger’s website.

Your PR professional will educate you on what options are most effective. If you can’t afford to launch your brand with celebrity fanfare, start with third-party partners. Larger organizations, related consumer events and non competing brands can be leveraged for free exposure to potential clientele.

4. Keep Investing- once the core of your marketing strategy is in place, continue building on other vehicle. Database building, enhanced advertising campaigns and special events will help reaffirm your existing consumers and reach more. Designate an in-house marketing person who can focus on your brand every day and make sure the foundation continues to be elevated.

Ideally, a business will only launch once. Complete the legwork, commit the initial investment, and expect to reap benefits.
 

Honey Lee, Managing Director, HEAT Pte. Ltd 

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Tags: Honey Lee, HEAT Pte. Ltd, market Singapore, market start-up