Online businesses in Singapore have been expanding at an impressive rate. If one wishes to start an online business in Singapore, certain steps must first be taken. Research must be conducted and a plan must be formulated. After this, incorporation of the online business is required.
However, in Singapore, just as in any other country, some online businesses are easier to enter than others.
In reselling, which is also known as the white-label industry, the provider of the service or seller of the product is not behind the main operation or production. These are done by a different company. The reselling business allows for a higher profit margin for sellers, as they are able to choose their own prices. Among the services offered by resellers include pay-per-click advertising, social media campaign management, and search engine optimization (SEO).
One of the more successful reselling companies is SEO Reseller. SEO Reseller’s adherence to industry best practices, evolving and dynamic environments, and emphases on customer focus, transparency, and support have allowed it to establish over 400 digital agencies in 12 countries, bringing in over 386 million visitors to clients’ website annually.
2) Affiliate Marketing
Affiliate marketers help promote another company’s services or products. They receive a suitable commission after sales are made due to their marketing. Most affiliate marketers share news about products through social media. Some also attempt to draw attention to the products they market through product reviews on their website. A competent affiliate marketer must be able to accurately identify the target audience of a product, as well as write copy which is compelling enough to cause people to want to buy what is being marketed.
Matuloo, one of the world’s leading affiliate marketers, has been in the industry for almost two decades. His adaptability and flexibility have helped him turn a sizeable profit through his websites and SEO.
3) Online Travel Agencies
Due to the difficulties sometimes associated with making travel plans, some travelers prefer to use online travel agents to ease their burden. In Singapore, a travel agency licence is required to become a travel agent. This licence requires proper company registration, paid-up capital of at least S$100,000, a company website, a physical office with a signboard, and the selection of a key executive. The company’s executive and managerial appointments must also be deemed to be of good moral character.
Expedia is among the most well-known online travel agencies. Established in 1996, Expedia broke away from Microsoft in 2001. Today, Expedia is regarded as one of the most admired and best-managed companies in any field.
4) Medical Transcription
The job of medical transcriptionist is one of the few that can be done online. A medical transcriptionist listens to recorded medical dictation, then transcribes it. Medical transcription also involves editing documents created with certain computer software programs. One of the main advantages of starting a medical transcription business is the fact that startup costs are relatively low when compared to other online businesses. A successful medical transcriptionist must have good grammar and research skills, while also possessing a functional understanding of various medical terms.
Datamatrix Medical has emerged as a prominent medical transcription company. The company prides itself on being highly knowledgeable about electronic health record (EHR) services and using technological advances to tailor its services to match each specific EHR system. Today, Datamatrix Medical’s services are used by over 250 medical practices and hospitals across the US.
5) Kindle Direct Publishing
Kindle Direct Publishing (KDP) was launched by Amazon in 2007. KDP allows clients to publish books on Kindle and Amazon. These books can be purchased by any online buyer. KDP is free to join, and Amazon does not charge printing costs unless someone orders a physical copy of the book. Amazon’s rising influence has increased KDP’s inherent potential. KDP is an easy online business to enter because of the lack of startup costs and the fact that a website is not required before entry. People who succeed in KDP may either write their own books or get others to write for them. Those who write their own books must have good writing and proofreading skills, while those who hire writers require a suitable budget.
Paranormal fiction author Amanda Hocking rose to international recognition after self-publishing on Kindle. Just a few days after publishing her novel My Blood Approves on Kindle, its sales skyrocketed. Her novel became so profitable that she quit her previous job and became a full-time writer.
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6) Pay-per-click Advertising
Many businesses use pay-per-click (PPC) advertising to make them more marketable. In PPC advertising, companies display ads on their website and pay a certain amount of money when visitors click on the ad. PPC advertising is also known as search engine marketing. Due to the sharp decline in newspaper readership in Singapore, PPC marketing has become essential to any business. Thus, many companies in Singapore are now willing to pay lucrative salaries to effective PPC ad managers. Entering the world of PPC advertising is relatively simple because anyone can set up an account and start to advertise on Google or Facebook.
Chemstations, which sells chemical process simulation software, was able to target an important group of engineering customers through careful, intelligent use of PPC advertising. Text, word choice, and photographs have all been meticulously selected to leave the best possible impression on those browsing the Chemstations website.
7) Internet Security Consulting
The Internet security consulting business in Singapore is currently experiencing something of a boom. This is because many businesses fear having their websites hacked and their information leaked. Thus, businesses of all sizes require Internet security consulting. An Internet security consultant ought to be tech-savvy, especially regarding how a company’s Internet security should work to prevent hacking.
DXC Technology served as an IT partner for optical retail group Specsavers. At the time, Specsavers’ Internet security was in a questionable state. However, DXC was able to correct this issue by using a platform that utilized multifactor authentication, testing, and disaster recovery. This allowed Specsavers to cut costs, meet demand, and design and maintain security for the cloud.
8) Graphic Design
Much like several of the businesses already mentioned, the graphic design business in Singapore is in the midst of a rise in demand. Many companies and individuals require graphic designers because they want to communicate their non-verbal messages in the most effective way possible. One of the advantages of the graphic design industry is the fact that graphic design services can easily be provided from home with little overhead. In spite of the costs associated with the necessary design software, not much is needed to start a graphic design business. The only things that are truly necessary are a computer and a working Internet connection.
Sean Martin is a freelance graphic designer. He got his start in the industry by using Macintosh design software to create designs for T-shirts. He subsequently switched gears and began doing desktop design for direct marketers. This has allowed Sean to earn an average of US$75 an hour, a figure derived from the five to 15 jobs that he simultaneously handles.
There are two ways to start an online photography business. The first is by taking a litany of photographs, then selling them online. Those who choose this method usually create a website or online store dedicated to their photography. The second is by signing up at a website that will sell one’s photographs. Among these websites are iStock and Shutterstock. The photographer will earn a commission for each photograph sold. Online photography businesses allow for flexible schedules and give photographers opportunities to meet new people and travel while doing something they enjoy for a living.
Crump Photo has recently risen in prominence among online photography circles. Appropriate use of SEO optimization, identification of a niche, and ease of interaction with customers are some of its best tips to develop its business.
10) Social Media Marketing
Social media websites such as Twitter, Facebook, and Instagram have opened the door to many opportunities for social media marketing managers. Many businesses use social media to sell products, so they require social media marketing managers to assist them in this regard. Having a social media expert in charge of the company’s accounts will improve the company’s overall image. Social media marketing managers bring a sense of presence and individuality to a company. Those who know how to appeal to various audiences are the ideal candidates to start such a business.
Savvy use of social media marketing has allowed Seattle-based bakery chain Cupcake Royale to increase the number of followers it has while also allowing them to have a say in the business. Cupcake Royale uses its social media accounts to engage their audiences and ask for suggestions for new cupcake varieties to be released. In doing so, the company has proven itself to be willing to communicate with its customers.