The Challenges of B2B Sales in Singapore
By: Alexander Lim
Tags: Startup, Startup Lessons, B2b Sales, B2b Marketing, B2B

The Challenges of B2B Sales in Singapore

Photo by LinkedIn Sales Navigator from Pexels

Despite our global outlook, B2B sales in Singapore is still faced with a lot of problems.

Despite the global awareness and worldwide connectivity, Asian countries are still very conservative when making financial decisions.

This is why most of the time, your company will be met with difficulties when selling to corporations in Singapore.

Aside from that, Singaporeans are also very choosy about their purchases.

They prefer to stick to their own brands or stick to the choices they know. As a result, your company will likely go through a lot of rejection when trying to sell your products or services in this country.

Additionally, the market is also highly competitive and there’s only so much you can do to stay ahead of the game.

This is why you should outsource your marketing efforts so you can have more time in focusing on core business processes instead of worrying about what will happen next in your marketing strategy.

The solution to your B2B sales in Singapore

You may have tried contacting corporate companies in the country with your sales pitch, but you still get rejected most of the time.

This is why you need to outsource your marketing efforts so you can have more time in focusing on core business processes instead of worrying about what will happen next in your marketing strategy.

The good thing about outsourcing here in Singapore is that you will be able to save a lot of money and time by hiring professionals who will take care of your campaigns.

Hiring a professional company who specializes in lead generation and appointment setting is a smart choice because it will allow you to focus on doing other important things.

Moreover, there are lots of options when it comes to hiring an agency to do your B2B sales for you, but not all of them are worth it.

If you want results, then you should be looking for a company that has been proven effective through customer reviews. You can choose from phone lead generation or appointment setting depending on what fits the best for your business needs.

How much is the cost of doing B2B sales in Singapore?

B2B marketing in Singapore can be very expensive and it may be hard to find a company who will deal with your budget.

But this shouldn’t be a problem because there are some companies who are willing to work with the budget you have.

It is just important that you know what you should expect in terms of cost when dealing with a professional service provider.

Phone lead generation or appointment setting usually costs around $500 to $3,000 per month, depending on your needs and the scope of your campaign.

Lead generation is more effective because it can provide more long-lasting results compared to appointment setting.

If you want quicker results, then it is best that you hire an agency that offers appointment setting because this will allow them to meet up with potential clients who are interested about your products and services.

But if you have time constraints, then lead generation is the best option for you because it doesn’t require clients to get in touch with the company directly.

What kind of ROI can I expect?

The cost of hiring a professional agency depends on what kind of campaign they will do for your brand.

You should also take note that most agencies will give you back 60% of their total collected leads as part of their service fee.

This means that if they collected 1,000 leads for your brand, then they will give back 600 contacts as their initial payment from these leads.

From these 600 contacts, only 10% (60) might become actual customers for your business. This means that out of 1,000 leads collected, only 6 people may eventually buy from your company!

That said, there are lots of factors why someone won’t end up buying from your brand even if they were contacted by an agency before such as competitors offering better products or service or simply being uninterested in what you have offered them during the sales pitch.

About the Author

I am the Founder of Cudy Technologies (www.cudy.co), a full-stack EdTech startup helping teachers and students teach and learn better. I am also a mentor and angel investor in other Startups of my other interests (Proptech, Fintech, HRtech, Ride-hailing, C2C marketplaces and SaaS). You can also find me on Cudy for early-stage Startup Founder mentorship and advice.

You can connect with me on Linkedin (https://www.linkedin.com/in/alexanderlhk) and let me know that you are a reader of my Medium posts in your invitation message.