Singapore is a fast progressing country where we can see many start-ups and new business ideas emerging every day. The small and medium scale businesses need encouragement and support from growth so that they can flourish and contribute to Singapore’s economy and development.
Associations such as Singapore Enterprise Association take various initiatives to promote and support small and medium scale businesses. Right from organizing seminars and training programs, they also acknowledge firms that are doing well with the prestigious Medal of Honour Award. The Singapore Enterprise’s Medal of Honour Award recognizes companies across Singapore that are doing best in their respective fields or industries.
The SMEs often face challenges during their initial days and need a roadmap to proceed ahead on the path of success. One of the essentials for very SME is to have an incredible online presence. Without online presence, they can miss out on significant business opportunities. The Singapore Enterprise Association reviews and suggests why it is important for SMEs to have online presence. Here’s a look:
What is digital presence?
It is a place that your business owns online. Digital presence has a wide scope and it encompasses of the following:
- Website
- Social media profiles
- Listings on various social media profiles
- Searches that your website shows up for
- Paid media or pay-per-click advertising
- Organizations, events, communities, and forums that you actively participate in
Why digital presence is required?
Statistics say that as many as 70% of the small businesses fail within 5 to 10 years of inception. The pertinent question is why does it happen? Cash flow and lack of sales can be a significant reason. Research shows that almost 70 to 80% of the customers connect with a new business online even before they visit its office or buy from them. This means a significant part of the sales are influenced by digital presence.
Have you ever imagined what will the customers think if they can’t find your business online? And what if there are no reviews and ratings for your business/ service? These things may seem insignificant but matter a lot in this era of digitization and globalization. Simply put, lack of digital presence can make you miss out on a huge percentage of your sales and revenue.
Where to Begin?
The first thing to do is come up with a website of your own. By having a strong website, it will be easy for you to make sales and have strong online presence.
- Get your website made by a professional with a clean design and user friendly layout.
- Your website should be able to convey your core message that the business will share across all digital platforms including social media.
- You need to identify websites and platforms that your business needs to show up on. For example, B2B companies can benefit from LinkedIn and B2C companies can benefit from Facebook.
- You need a content strategy that can help in achieving an active digital presence.
Explore the web for more information on how Singapore Enterprise Association reviews and helps businesses to become better when it comes to their digital journey.
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