How to Set Your Marketing Goals

Do you want to get a good return on investment of your money spent on marketing? Do you know what is the first thing you have to do for your marketing goals? It is Goal Setting.

This is an essential and good practice by any business owner. With these few simple tips, you can set your marketing goals quickly and easily.! In this blog, we’ll walk you through how to set up your marketing goals aligned to your business goals and how to achieve all your marketing objectives with good ROI(Return of investment)marketing objectives. We have also given you a pdf file with stepwise exercises to build your business plan.

Remember: Every business is different and you cant just follow the marketing strategies done by a successful business. Marketing Goals have to be derived from your business goals. Otherwise, you will not reach to your potential audience and you will waste your time and effort

Step #1: Define Your Business Goals

The first step is to clearly identify your business goals. Grap a paper or open a notepad and derive these points from your business goal.

  • What is your mission statement?
  • What are the objectives you want to achieve in your business? (Write at least 3).
  • Define your unique value proposition for each of your objectives
  • Come up with a quick 2 line summary about your objective and unique value you provide.
Business Strategy Worksheet

You can download this Business Strategy Worksheet in PDF below:

Step #2: Define Your Customer Strategy

Now define your customers here. They are your end audience so, all your marketing plans should be inclined towards the. These simple steps will identify potential customers and come up with an ideal plan unique for your customers.

  • List down the demographics of your potential audience. Create at least Like Gender, age group, interest.
  • Write the audience’s goals. What your audience actually needs
  • What is the technology your customers use? Like Facebook, Google search, Instagram , twitter ,etc.
Business Goals or Strategy Worksheet

You can download this Business Strategy Image in PDF below:

Step #3: Creating Shared value

Now You have to create a marketing goal for each of the objectives you created before. Your business goals and customer strategy match the target audience for each goal. This is where you find the shared value of your business and customer.

  • Take one objective at the time
  • Match the correct audience from customer study list
  • List down the customer channels you mentioned in customer study list
  • In each channel create the following list.
Creating a shared value worksheet

You can download this Creating a Shared Value Worksheet in PDF below:

There are no secrets to success. It is the result of preparation, hard work, and learning from failure.

– Paul Tournier

As your budget progresses and evolves, continue referring to your Marketing Goals. Remember to make the necessary modifications to your goals as time changes. Stay focused and remember your goals – they will always inform what your next step will be!

Marketing Strategy Worksheet

You can download this Marketing Strategy Worksheet in PDF below:

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ashbiha March 23, 2021 0 Comments

7 Best Payment Gateways in Singapore that will Cost you Less Money and Effort

Digital payments are becoming a big part of everyone’s life and finding the best payment gateway for your small business is also important. There are a lot of payment gateways around the world, yes. But the ones that are affordable and easy to use, not so much. 

To show the value of digital payments

A business needs to have a secure and reliable payment gateway because if not, it is going to affect your sales and your business. If you are a small retailer or own a small business and looking to switch to digital payment methods, you’re in the right place. We have tried our best to list out the best payment gateways in Singapore that will be suitable for everyone.

Top 7 Payment Gateway options to use in Singapore:

Paypal (Global Payment Gateway):

Paypal is one of the most trusted and well-known payment gateway around the world. So it’s safe to say that the experience with Paypal will be very easy and secure. 

It allows the users to make transactions in 2 ways: Paypal Express and Paypal Standard. The option Paypal Express is for quick payments that have to be done as quickly as possible. Paypal Standard is a slow transaction mode where one has to enter all kinds of information before getting ready to send the payment. 

Red Dot Payment:

Red Dot Payment is headquartered in Singapore itself and offers a range of payment gateway services for businesses. It allows the user to choose from the different range of payment modes available including both cards and non-cards.

Stripe:

Stripe was launched in 2016 in Singapore and is well-known for its reliable and flexible features. It is being used by some big brands and names like Kickstarter and Deliver but is also suitable for small businesses.

Asia Pay (Asian Payment Gateway):

Being one of the most used payment gateways in Asia, Asia Pay accepts payments using Cards and other modes such as Paypal, China Unionpay, and Alipay. The user can use Asia Pay in different currencies, different languages, and multiple cards.

Brain Tree:

Brain Tree is a part of the global payment gateway, PayPal. It offers multiple payment methods such as cards (Visa, Mastercard, etc.), Apple pay, Union pay, and Android pay. Braintree provides the users with workable prices that make it easier for them.

eNets:

eNets can be considered as not so easy to set up for payments. The payment gateway requires a merchant bank account and takes about 6 weeks to complete the integration process. Although it is a tedious process, it accepts all major credit cards for payments.

Liquid Gateway:

Liquid Gateway is another Singapore-based payment gateway that offers a very low transaction fee compared to most of the payment gateways. It will be suitable and reliable for all businesses in Singapore who don’t wanna do or deal with any complicated procedures and fee structures. 

Payment Gateways:PayPalRed Dot PaymentStripeAsia PayBrain TreeeNetsLiquid Gateway
Set-up feeNo Set-up Cost1 time Set-up costNo set-up feeQuote Based FeeNo Set-up feeSet-up fee requires and variesNo Set-up fee
Transaction FeeS$0.50 Transaction Fee on every transfer3% + S$0.30 transaction fee on for credit card3.4% + $0.50 fixed transaction fee2.6% + RM 1.50 per transaction3.4% + $0.50 transaction fee3.5 to 4% transaction fee2.9% + $0.50 transaction fee
Accepted Payment MethodsCards and PaypalCards and Non-Cards Credit Cards and BitcoinsCards and other modesCredit cards and other modesAll Major Credit cardsCards and other modes
IntegrationSimple signup by creating a business account with emailAn application process to integrate your business which takes about 3 working daysRequires a certain expertise or a developer to customize the payment APISign up process that can be integrated to multiple channelsHas 2 ways of integration.1. A quick signup2. Improved integration with some expert helpAlmost a long application process for a much more tedious integrationA simple sign up process and the company will guide through the rest

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ashbiha March 12, 2021 0 Comments

How to Import Goods to Singapore

Popular with traders both locally and internationally, Singapore is connected to ports over 600 in 120 countries. Singapore is rated as one of the easiest places to start or run or start a business in a few hours.  Importing goods to Singapore can be a confusing process for people who just don’t understand trading but want to understand the concept of it. This article is here to serve you the exact purpose as it is presented in a way for everyone to understand the Import process in Singapore.

Here are the steps one needs to follow and check before deciding to Import goods into Singapore:

Import Goods to Singapore

Step 1: Activate Your UEN

If anyone wishes to import goods to Singapore, the company must have a valid UEN from Accounting and Corporate Regulatory Authority (ACRA). 

Step 2: Activation of customs account

If the company has already been registered with the (ACRA) Accounting and Corporate Regulatory Authority then the owner/director/partner whose documentation is also registered with ACRA, can initiate the company’s Customs Account. Furthermore, They can sign up via e-Service to receive notifications and alerts using SingPass.

Here is the link to sign up: https://www.tradenet.gov.sg/TN41EFORM/tds/sp/splogin.do?action=init_acct 

Step 3: Check for controlled goods

Check whether your goods fall in the controlled goods category. 

Import Goods that fall into the controlled category need proper authorization such as an Advance Notification license and/or certificate approval from the Authorities (CA) before they are imported into Singapore.

List of goods that are prohibited or controlled are listed here https://www.customs.gov.sg/businesses/importing-goods/controlled-and-prohibited-goods-for-import

Step 4: Import procedure for importing goods to Singapore

Now assuming your goods are not in the controlled or prohibited category, Goods are broadly classified as dutiable and non-dutiable. Check where your goods fall.

Dutiable and Non-Dutiable Goods

Dutiable goods, which incur both GST and duty.

Non-dutiable goods incur GST only.

GST grant is given only for non-dutiable goods imported by parcel post or air freight to a total CIF value not exceeding S$ 400.00

Step 5: Permit application for importing goods to Singapore

There are two ways 

Number 1:

You can appoint a local freight forwarding agent, registered as a TradeNet® user with the Singapore Customs to help with the documentation Customs and help you make them as your Declaring Agent.

Number 2:

Any institution or entity which is registered with a TradeNet® account can submit and help obtain approval for their applications through the same.

For a small business or home business if the import frequency is less it’s better to go with option 1.

For the list of trade net providers in Singapore you can check here https://www.customs.gov.sg/businesses/national-single-window/overview/tradenet-solution-providers 

Step 6: Paying Duties

All payment regarding duties has to be made to Singapore Customs through Interbank GIRO (IBG). If your company’s import is on a low frequency then you can choose to organize with your appointed Declaring Agent to do everything regarding your duties. If not, you can register your company for an IBG and permit your Declaring Agent to use that IBG for duties regarding your Customs Permit via the Authorisation of Declaring Agent e-Service. 

For more information on IBG application with Singapore Customs, Please visit https://www.customs.gov.sg/businesses/registering-to-trade/registration-procedures/apply-for-inter-bank-giro

After following all the procedures and successfully getting permission to import goods to Singapore, one should keep all the documents connected to the import of goods for at least five years, starting from the date of customs permit approval. If requested, those documentations must be presented to the Singapore Customs in either physical or digital form.

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ashbiha March 4, 2021 0 Comments