Going Online -What You Should Know Before You Start-

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Maximillian Barber
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1 Singapore Institute of Retail Studies Going Online -What You Should Know Before You Start-

2 Singapore Institute of Retail Studies (SIRS) Continual Education Centre of Nanyang Polytechnic Specialized in the training of the Retail and Service sector of Singapore The school was setup in 2006 The first CET centre in Singapore, a collaboration between NYP and WDA

3 Singapore Institute of Retail Studies (SIRS) Original Site within NYP Moved to HDB Hub in 1007 Jan

4 KICKSTARTER A new way to gather funds, A new way of doing business, ALL ONLINE.

5 KICKSTARTER Combining Market Research, Marketing, Pre- Sales, Crowd-Funding into a single model of business Currently more prominent in the US Changing the arena for SMEs vs Giants

6 Is there Money in the Internet? Mastercard 2 out of 3 Singaporeans have used credit cards for purchases online Nielsen Survey 85% of Singaporeans have taken part in some form of Social Media, 69% have used it as an interaction tool with brands MEF Consumer Survey 84% of Singaporeans have used their mobile phone to collect information on products

7 How easy is Internet Business? 10% of Singapore BlogShops have monthly sales of at least S$ % of Singapore BlogShops have monthly sales of only S$500 or below

8 So what s the point of having an online presence? 24/7 channel No real geographical limitations Controllable cost Arena is relatively even Terrifying marketing effects Easy to expand Can you afford not to have it?

9 Common Issues

10 The Fundamental Concept of Online Business

11 Understanding if the KEY! The boundless limits of the internet The deadliness of the internet It is easy, yet it is hard Nothing can replace understanding

12 The Components of Online Business Store Front Marketing Service

13 Choosing Your Store Front Available Platforms(Shopify, ebay, Amazon) Blogs Specialized Website Social Media

14 Your Customers decide Your Direction Age Interest Gender Education Geography Spending Power The Place They Go

15 Store Front Choosing Your Looks Choosing Your Placements Pricing Payment Methods Make it CLEAN, Make it EASY

16 Marketing Customers are NOT going to appear automatically Advertisements Blogs Social Media Traditional Advertisement Word of Mouth

17 Service For online business, service is most important! Social Media Trust Using customers data correctly Backend activities/efficiency

18 FaceBook

19 Facebook? 750 million Facebook users On average, a Facebook user: Has 130 Friends Looks at least 80 different Groups Puts up at least 90 comments a week 58% of Singaporeans owns a Facebook account, daily usage on average 38 minutes In the world, there are 3.2 billion likes/comments in a single day Incredible viral effects for marketing &set=vb &type=2&theater

20 The Power of Social Media The same marketing method, amplified a thousand times Not a pure advertisement Hidden method is usually stronger Consistent updates/content Be very, very careful with Social Media

21 What Else? Follow the Trend SEO (Search Engine Optimization) Learn Patience

22 Threats Intellectual Property Price War (TaoBao 淘宝网 ) Anti s

23 So, What of the Investment?

24 ida supports SME to go online Data Control and Analysis Inventory Backend Logistics -70%

25 SME Infocomm Resource Centres (SIRCs) Which Funding Scheme Benefits Me The Most? How do I get them? 新开设! Tel: sirc@sccci.org.sg Tel: Info_sirs@sirs.edu.sg

26 Who is Eligible? Criteria All companies registered in Singapore that fulfills the following: At least 30% share must belong to Singaporean AND Group Income cannot exceed S$100 million OR Number of Employees not more than 200 Note: Project must be in Singapore Project must provide benefits to Singapore-based business Not applicable to upgrades/renewals 26

27 isprint

28 isprint Funding Support isprint provides up to 70% assistance to SMEs, for them to improve their ICT capabilities: Pre-approved Vendors/Solutions Customized Solutions 28

29 WSQ Training Support Provides a full suite of training programs for adult learners under the WSQ framework developed under WDA % funded by WDA, Absentee Payroll and CQA bonus Certificate of Retail Operations Advanced Certificate of Retail Supervision Diploma of Retail Management Full Qualification Classes and Modular Classes Anywhere, Anytime

30 Productivity Innovation Credit (PIC) Funding Support IRAS provides support for investment into the 6 qualifying activities, including IT automation and Training: 400% Tax reduction 60% Cash Payout 30

31 Manage an Online Retail Business WSQ Course 30 Hours 70% Funded By Government $230 (before GST) Conversion Hub S$10,000 Support Package Shopify Educational Journey SGNic Free Registration

Supporting Businesses through innovative internet solutions and information technology

Supporting Businesses through innovative internet solutions and information technology WEB DEVELOPMENT, WEB HOSTING, SOCIAL MEDIA ADVERTISING, IT TRAINING, IT INFRASTRUCTURE MANAGEMENT, ERP DEPLOYMENT,