How Do I Market Business Consulting Services in Singapore

Double taxation guarantee agreements, strong intellectual property laws, and investment guarantee agreements are some of the incentives that make Singapore an ideal country in the Asia-Pacific region to set up a business. Over the last decade, the number of foreign and local companies has increased by more than 50%. This trend has, in turn, resulted in an increase in demand for professional business consultancy services.

If you are an expert in a particular industry or niche, you can profit by helping other companies make informed decisions and resolve problems. Here are tips on how to market your business consulting services in Singapore.

Join Singapore Business Advisors and Consultants Council

Singapore Business Advisors and Consultants Council (SBACC) is a professional body that enforces Practising Management Consultant certification. As a member of this organization, you will be recognized as an authority by not only companies in the private sector but also various government agencies such as IE Singapore, WDA, and SPRING Singapore.

Network with Industry Leaders to Get Speaking Engagements

Networking with industry leaders will help you to secure speaking engagements that will expand your clientele base and audience. For example, if you are an expert in online marketing in Singapore, you may be invited to speak at seminars and business conferences such as the Annual International Conference on Computer Games, Multimedia, and Allied Technologies.

Finally, you need to have a website to connect with entrepreneurs and company directors who require business consulting services. Search engine marketing strategies such as PPC will also help you to advertise your brand online by strategically placing ads on SERPs whenever someone searches for your target keywords.

Do you know about these Biggest Business Mistakes in History? Know how to avoid them!

Making mistakes is a part of human behavior. Learning from mistakes is great and valuable. But there are two ways to do that. Make your mistake and learn or study what can go wrong by others mistakes.

Check out following business blunders in history with how to avoid it tips.

New Coke

Coca-cola Company decided to remove its signature drink in 1985 and introduced a new signature drink named New Coke. By the late 1970s, Pepsi was taking market share of Coco-Cola. Coke’s market research concluded that the problem was its flavor. Pepsi was winning it all by those changing taste. So coke came up with New Coke idea.

Coke underestimated the power of brand loyalty and so the new product highly failed on the market.

How to avoid tip – If you are doing something good keep doing it. The other might not be able to snatch your loyal customers. If you do such kind of mistake, you probably won’t get as lucky as Coke did.

JCPenney

For a long time, JCPenney was the go-to discount clothing retailer. They had more than thousands of stores offering the low price. Everything changes when the company hired former Apple retail boss Ron Johnson to take over as CEO in 2012. Johnson made many mistakes from changing company’s logo for three times in three years into pushing brands like Levi’s to open their mini store inside JCPenney. He even fired company’s long-term advertising agency. All he did was a major fail.

How to avoid tip – Don’t try to be something you’re not, ever! Change is good but meaningless change is worst.

PETS.COM

PETS.COM reminds us a sock puppet. The company went into its own hype ignoring fundamentals. Hummer Winblad the owner of the company didn’t bother to perform any independent market research. Ware there even customers interested in the home delivery of fake mice and rubber bones?  Investor’s $50 million disappeared into the name of history just like.

How to avoid tip – Never take the power of market research for granted. Develop a business plan before you execute the actual one.

EDSEL

EDSEL is an example of spending a lot in market search and then ignoring it.

During the mid-1950s Ford spent millions of dollars to its researchers to develop a new mid-priced brand that will stand out in the market. But in three years EDSEL journey, FORD only managed to sell 118,000 of them. They lost almost $250 million. If we study what went wrong, the first thing comes to mind is the name. Ford spent good time and money after name research but at the end, Ford’s chairman picked EDSEL (the name of founder’s late son).

How to avoid tip – Follow the research and especially when you spent the good fortune after it.

Tie up of Quaker and Snapple

Snapple was a huge hit at small retailers in the 90s. Quaker thought the tie-up could make billions of money. So they paid $1.7 billion for Snapper. But the other competitors like Coco Cola took the market over by introducing the product like Fruitopia. So the tie-up turned out to be a big flop for Quaker. In 1997, Quaker sold Snapple for $300 million. How to avoid tip – Always see your competitors move and especially when you’re planning something big.

There’s a quick lesson to learn from all these mistakes made by big companies.