Like any other company formation you need to follow several steps precisely for the incorporation of your ad agency in Singapore.
First of all, it is necessary to define the objective and set a strategic business goal. Indeed, unlike starting a business without an objective, this gives you a direction to follow. Moreover, an objective motivates and reinforces your desire to go towards it. Therefore, with well-defined goals, you have the ability to decide and prioritize a more decisive approach.
Secondly, it is important to identify the target audience. One of the biggest mistakes in starting a business is not identifying your target audience. Therefore, it is best to filter out the ideal target industry on the one hand, and on the other, the customers that best fit your business model. Once this is done, you can adapt by making modifications to the desired target to highlight your strengths. Finally, while there are many ways to gather these resources and data, you can try investing in analytics tools to study consumer behavior and interest.
Third, you need to make a choice between a physical or virtual office. It is imperative to get your budget and accounting from the start. Among other things, this can help determine if you are able to sustain your business over the long term. To determine if it would be effective for you to have a physical office you actually need to take into account the capital of your business, the costs of expansion, the ideal work culture and the services you provide. Unlike a physical office, you can opt for telecommuting which can offer you flexibility and likely save you office costs. However, telecommuting also has its drawbacks. It takes commitment and dedication to communicate with the team and, most importantly, trust to make sure everyone is playing their part to make things work.
The fourth step is building your team. As a startup, it’s best to hire a small team of employees who are competent and passionate about the work. To do this, you need to start by identifying the core tasks that every marketing agency needs. This could be a data analyst, a strategist, a marketer, a web designer, or people who are dedicated to performing specific tasks or services.
Then, the fifth step is to find customers. You need to create brand awareness through consistent branding and market positioning, participate in marketing partnerships, optimize your online presence as well as social media.
Finally, the last step consists of customer retention. The ultimate goal for an ad agency is to have customer loyalty and recurring sales. To do this, you will need to understand consumer behavior. Therefore, to build customer loyalty, you must proactively take the right steps to meet the demand. As a result, you need to build your company’s credibility. Indeed, nowadays, consumers are quite smart and the last thing you want is for them to have a second thought about the credibility of your ad agency.
For example, having a business invoice seems much more reliable than a handwritten copy. When it comes to B2B, if you want to project a professional impression of your business, you should use separate company checks or credit cards rather than your personal account. Finally, customer service has a lot of thought about customer satisfaction. Because of this, it may be best to open a 24-hour live chat service to resolve any issues that arise.
Initially, the first and most important step in starting your ad agency is to register your company in Singapore with the Accounting and Corporate Regulatory Authority. Upon successful registration, your company will receive a unique entity number, which is required when applying for other licenses and permits.
Secondly, after obtaining your business license from ACRA, you may need other licenses depending on the activities of your ad agency.
Indeed, to display billboards in Singapore, approval from the following authorities is required:
Finally, it is important to specify that currently in Singapore, internet content is regulated as broadcast multimedia content and therefore all services provided by internet service providers and internet content providers require a license. However, internet content providers are already automatically licensed under the Broadcasting Act, so a separate license application is not required.
No matter how much you know about online marketing, if you can’t effectively communicate your ideas to your staff and customers, your business may not work. Because of this, make sure that you work to hone your communication skills. In particular, you should start doing this as soon as you start your business. For one thing, communicating is important because it allows you to understand what customers want or need. Therefore, you need to be able to listen and address their concerns. On the other hand, you also need to communicate well with your staff so that everyone understands their role in certain projects. Finally, you need to be able to present your ideas clearly and concisely, without leaving any questions or confusion. Indeed, communication is particularly useful when it comes to explaining your processes. Therefore, you must be able to offer a basic understanding of the subject. Finally, your customers should never be left in the dark.
