starting up module 4

7/28/2019 Starting Up Module 4

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Starting a Business -The No Nonsense Guide

Module 4: Finding and keeping

customers


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Module 4: Finding and keeping customers

4.1

4.1

4.2

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4.3

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4.4

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4.5

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4.6

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4.7

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4.8

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4.9

4.9

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What will your business do? 2

Research the market 4

Strengths and weaknesses 10

Market risks 13

The marketing mix: the 4 Ps 14

Sales 21

Providing excellent customer service 22

Glossary 24

Action plan 25

This module will help you to:

understandthemarket foryourproductorservice refineyourbusinessidea planhowyoullreach

yourcustomers sellsuccessfully.

Youllalsohavetheopportunityofcompletingthepartsofyourbusinessplanthatrelatetoyourmarketingandsellingyourstrategyforfindingandkeepingcustomers.

What you will learn and understand asa result of working through this module

How to use the module

Thisisaself-helpmodule,withbothreferenceandworksheetmaterialtohelpguideyouthroughstartingasuccessfulbusiness.

Youwillfindiconsthroughoutthemoduletohelpguideyou:

Tipsforhowtomaximiseyourbusiness

Colour-codedlinkstoothermodules

LinkstotheBusinessLinkwebsite

Anactionplanattheendofthismoduletohelpyouplanyouractivityforstartingup.

Worksheetswithlinkstothebusinessplaninmodule6.

Linkstotheessentialbusinessplan

Linkstothecomprehensivebusinessplan

Ifyouareusingthemodulestocompleteabusinessplan,seemodule6forwhichplanisrightforyou.

Starting a Business - The No Nonsense GuideisproducedbyBusinessLinkaspartofitsStartingaBusinessservice.BusinessLinkprovidesimpartialadviceandinformationtohelpyoustart,growandsucceedinbusiness.Helpandsupportisalsoavailableonline,throughlocalworkshopsandoverthetelephone.Visit businesslink.gov.uk orcall0845 600 9 006,forfurtherdetails.


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Wh

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Whatwillyourbus

inessdo?

Theprocessoffindingandkeepingcustomers(knownasmarketingandsales)startswithfindingoutwhattheyneedandhowyoucanmatchyourproductand/orservicetothoseneeds.Thisunderstandingwillenableyoutoidentify

therightgroupsofcustomersandtargetthemwiththerightproducts/services.

Thinkofmarketingascreatingtheopportunityinthefirstplace,andsellingastheconversionofthisopportunityintoasale.

Tofindandkeepcustomers,youllneedtohaveaclearvisionoftheproduct/serviceyouregoingtosellandwhoyouregoingtosellitto.Youmustknowhowitwillstandoutfromthecompetitionandwhetheryoucansellitatapricethatwillgiveyouenoughprofittobeworthwhile.Youmaynotknowtheanswerstothesequestionsyet,butthismodulewillhelpyoutodecideexactlywhatyourquestionsareandthebestwaytofindouttheanswers.

4.1 What will your business do?

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4.1

What are the features and benefitsof your product/service?Successfulbusinessesfocusonthebenefitsthattheirproduct/servicecanoffercustomers,ratherthantheirfeatures.

A featureisanattributeoftheproduct,suchasitssize,weightordesign.

A benefitiswhatthefeaturecando

forthecustomer(butrememberit'sonlyrelevantifit'ssomethingthatthecustomerwants).

A saucepan makes a good example:Feature:non-stickcoatingonsaucepan

Benefits:

fooddoesntsticktothesurfacetastierfoodsaveswork.

Worksheet: Your business ideaSumupyourbusinessideahere.Ifyourenotentirelysureaboutit,dontworry. Youllhavethechanceofreviewingitlaterinthemodule.

What your business doesWritedownwhatyourproducts/servicesfeaturesandbenefitsare.

Product/service Features Benefits


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Research

themarket

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Marketresearchisallaboutfindingoutwhatpeoplewillbuy.Itseasytoassumethatpeoplewanttobuywhatyouhavetosell,buthowdoyouknowthattheywill?Doingmarketresearchisessentialforanynewbusiness.

Showingthatyouvedoneresearchisalsooneoftheelementsthatbanksorinvestorswillbelookingforinyourbusinessplan.

How to do the researchSomepeoplemayprefertohireamarketresearchagencybutresearchisntdifficultornecessarilyverytime-consumingtodoyourself.Theresavastamountofpublishedresearchoutthere,bothspecificandgeneral.Someofitisfree,someyoullhavetopayfor,someyoucanborrowfromlibrariesandsomeisavailablethroughtheInternet.

Youcanalsogooutandcollectinformationby:

makingupyourownsurveysor

questionnairesandconductingthem face-to-face,byphone,emailor sendingthemthroughthepost holdingfocusgroups,discussions andinterviews observation-watchingwhatpeople buywhentheyreshoppingorvisiting exhibitions,orcountinglorriesleaving yourcompetitorspremises.

Youdonthavetotakemonthsoffworktodotheresearch.Youcouldreduceyourriskbydevelopingyourbusinesspart-time,startingmoreslowlyorreducingtheneedforfinance.

4.2 Research the market

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Themoreinformationyouhave,thebetterplacedyouwillbetoturnyourbusinessideaintoasuccess.

The marketYourfirstgoalistogainanunderstanding

ofwhatshappeninginthemarketthatyouwanttotarget:

whatsthetotalmarketbusinesscustomers,consumers,UKonlyoroverseasaswell?

isitgrowingorshrinking? arethereanydifferencesfromregion toregion? whataretheseasonalinfluences? isitawelldevelopedmarketorare new,competitiveproductsentering? isitpronetofashionsandshort-term changes? isnewtechnologylikelytoalter themarket? whatchangesmayaffectdemand? arethereotherproducts/servicesout therethatareessentiallythesame asyours?

Your customersNext,findyourcustomers.Marketresearchwillhelpyouidentify:

whoandwhereyourpotential customersare howmanyofthemthereare thecharacteristicsofdifferentgroups theirbuyingpatternswhere,how,howmuch,when,why.

Onceyouhavethisinformation,youneedtoplaceyourcustomersintogroupssothatyoucanidentifythemostpromisingonesandfocusallyourmarketingeffortsonthem.

The competitionResearchingthecompetitionisanexcellentopportunitytocompareyourideaagainstwhatotherbusinessesareoffering.

YoucandiscoverwhoyourcompetitorsarefromsearchingontheInternetforsimilarproducts/services,fromlocalbusinessdirectories,yourtradeorprofessionalassociationoryourlocalChamberofCommerce.

Onceyouveidentifiedwhoyourcompetitorsare,readtheirwebsitesandbrochures,leafletsorflyers.Iftheyreanonlinebusiness,askforatrialoftheirservice.Ifyourcompetitorpublishesone,readtheirannualreport.

Speaktoyourcompetitors.Phonethem

toaskforacopyoftheirbrochureandapricelist.Enquirewhatanoff-the-shelfitemmightcostandwhethertheresadiscountifyoubuymorethanone.Thiswillgiveyouanideaatwhichpointacompetitorwilldiscountandatwhatvolume.Phoneandface-to-facecontactswillalsogiveyouanideaofthestyleofthecompany,andtheinitialimpressiontheymakeoncustomers.

Your USP (Unique Selling Proposition)Makingyourproduct/serviceuniqueordifferenttothecompetitioniswhatsknownasyourUSP,orUniqueSellingProposition(orPoint).Thiscouldbegoingforagapinthemarketsomethingthat

nootherbusinessisofferingoritcouldbecreatingastrongbrandthatyourcustomerswillrelateto.Itcouldevenbesomethingassimpleasofferingfasterservice.

Find out moreMarketresearchandmarketreports:businesslink.gov.uk/startmarkets

Knowyourcustomersneeds:businesslink.gov.uk/startcustomer

Understandyourcompetitors:businesslink.gov.uk/startcompetitor

4.2

Howareyougoingtoperformyourcompetitorresearch?Putanyactionsintoyouractionplan.

Howareyougoingtoperformyourmarketresearch?Whoareyougoingtotalktoandwhere?Puttheseactionsintoyouractionplan.


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Research

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Worksheet : Your market researchFromtheresultsofyourresearchintoyourmarket,writedownthetrendsthatyouhaveidentified,andwhatresearchyouvedonetocometothoseconclusions.

The trends in your chosen market are:

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2.

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How you know this:

Profiling customersWritedownwhatyouhavefoundoutaboutyourcustomers.

The customer groups you will be selling to are:

Your customer research has shown what your customers want is:

How you know this:

Number of customers you expect to win in each group and what they might pay:

Name: Richard RivlinCompany: Bladonmore

RichardRivlinexplainshoweffectiveuseofmarketresearchhelpedhimdevelophisfinancialtrainingandmediabusinessBladonmore.What I didOveraperiodofthreemonths,Iwentonavirtualfact-findingmissionusingtheInternet.Ifyoupersevere,youcanfindanincredibleamountofqualityinformationforfree,includingmarketreportsandexpertanalysis.Businessconsultantswebsites,industrybodiesandsector-leadingcompaniesareagoodplacetostart.

Throughoutmyresearch,Iwascarefultoavoidanalysisparalysis.Theresnopointhidingbehindpilesofmarketdataandthinkingyouhavedonesomethingconstructive.Youhavetousetheinformationtodevelopyourbusiness.Havingclearobjectiveshelps.Iwantedtoknowthesizeofthemarket,tolearnfromcompetitorssuccessesandmistakesandtounderstandwhatpotentialclientswant.

Group Number of customers Price they might pay

Heres how I made the mostof market research

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Research

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Case study

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Profiling competitorsWritedownthenamesofyourcompetitorsandtheirprofilesandhowtheycomparetoyou

Competitor name Strengths Weaknesses

How you can improve on their offer and/or price:

What makes your business different your USPWhatmakesyourproduct/serviceuniqueordifferentcomparedwiththecompetition?

Heres how I exploited a gapin the market

Name: Jeff SacreeCompany: Gecko Headgear Ltd

What I didAsasurfer,Icouldseethepotentialforahelmetthatwasbothlightweightandheat-retaining.Iwasalsolookingforwaystodiversifymyproductoffering,sincesellingsurfboardsishighlyseasonal.Idesignedandmadethefirsthelmetformyselfbuttheideasooncaughtonwithothersurfers.

However,surfingisarelativelysmallmarketandIbeganwonderingifIcouldbasethewholebusinessonmyhelmetdesign.IresearchedotherpotentialusersandaconversationwithalifeboatmanledmetoapproachtheRoyalNationalLifeboatInstitution(RNLI),whowereimmediatelyinterestedinusingaversionofthehelmet.

Plan ahead and get fundingAlthoughIwasalreadymakinghelmets,workingwiththeRNLIwasadifferentballgame.Thehelmettheywantedhadtobeadapted,testedandcertifiedbeforeIcouldstartsellingit.Ialsoneededtotakeonstaff,whichmeantthecompanyneededinvestment.IgotabankloanonthebackoftheRNLIsinvolvement,whichwasthentoppedupatvariousstages.

Keep innovatingWhentheRNLIcontractfinallybroughtussuccess,wewerecarefulnottorestonourlaurels.Todate,wevegonethroughtendifferentversionsofthesafetyhelmet,refiningitinlinewithcustomerfeedbackeachtime.Thehelmetcannowacceptarangeofadd-ons,suchascameras,torchesandcommunicationsequipment,accordingtocustomerrequirements.

Partnershipswithsuppliershavebeenanotherkeytosuccess.Forexample,weveworkedwithamanufacturertodevelopa

newadhesivethatcanwithstandsaltwateruse.WevealsopartneredwithTheWeldingInstitutetofindbetterwaysofweldingsectionsofthehelmettogether.Thishashelpedusinnovateandkeepaheadofcompetitors.

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Everybusinesshasitsstrengthsandweaknesses,anddoingthemarketresearchmayhavemadeyouthinkaboutyours.

ASWOT(Strengths,Weaknesses,

Opportunities,Threats)analysisisagoodwayofhelpingyouidentifythegoodthingsaboutyourproductorservice,possiblemarkettrends,andanythingthatletsyoudownorcouldbearisk.

4.3 Strengths andweaknesses

TipIfyoucompareyourstrengthsagainstyourcompetitors,theremaybeoneormoreareaswhereyoureparticularlystrongincomparisontothem.Ifthisalsohappenstobesomethingthatyourcustomersvaluehighly,thenyoureontoapotentialwinner.

Strengthsandweaknesses

4.3

Name: Debbie PierceCompany: The Bury Black PuddingCompany

DebbiePierceexplainshowshesetupthee-commercesideofherLancashire-basedfoodcompany.

What I didWehaveastallatBurymarketandwesetupthewebsitesowecoulddelivertopeoplesdoorsandreachthosewhocouldntmakethejourneytoBury.

Alocalwebsitedesignbusinesshelpedusputthesitetogether.Wesatdownandthoughtaboutwhatweneededonit.Youneedabitofhistoryaboutthebusiness

andwewantedtoadvertisethatthestallwasthereforpeopletovisit.Ialsowantedtogetasmuchinformationaspossibleabouttheproductinandsomenicepicturesthatuploadedinstantly.Ithinkallofthesethingshavehelpedusmakeonlinesales.

How planning helped uscreate a profitable website

Worksheet: SWOTWritedownpotentialstrengths,weaknesses,opportunitiesandthreatsintheseareas:

Your customer service

The benefits that your product/service offers

Your specialist skills, equipment or expertise

Your business image

The price of your product/service

Your systems: quality control, accounting, production and distribution

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SWOT analysisTranslateyouranswersintoaSWOTanalysisbyplacingeachintheappropriatebox

S strengths W weaknesses

O opportunities T threats

Marketrisks

4.4

Whatcanyoudotomaximiseyourstrengthsandopportunitieswhileminimisingthreatsandweaknesses?Putanyactionsintoyouractionplan.

AftercompletingyourresearchandSWOT,youshouldnowbeawareofeventsthatmayimpactonyourbusinesssectorormarket.Thesechangesaremarketrisks.Youneedtoidentifythesepossibilitiesandhowyouwilldealwiththem.

4.4 Market risks

Worksheet : Managing market risks

From the results of your research and SWOT, write down the risks thatyou have identified:

egcustomerswishingtobuymoreenvironmentallyfriendlyproducts

How you would manage those risks so that they become less of a threat:

egadjusttheproductdesigntominimiseenvironmentalimpact

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Themarketingmixisthecombinationofallthethingsyouneedtothinkabouttomarketyourproduct/servicesuccessfully,andtheyreoftenknownasthe4Ps:Product,Price,PlaceandPromotion.Allfourelementsmustworktogethertogive

aconsistentmessagetothecustomer.

Product (or service)

makesureitwillsatisfythecustomers needsorwants makesureitcanbeproduced anddeliveredataprofit makesureyourcustomerservice isright differentiateyourproduct/service fromyourcompetitors betotallyclearaboutwhatyoure hopingtosell.

Agoodproduct/serviceissomethingthatsatisfiesthecustomersneedorwantsaswellasbeingsomethingthatyoucanproduceanddeliverataprofit.Youneedtomakesurethatyourcustomerserviceisright.Itsessentialthatyoucan

differentiateyourproduct/servicefromthatofyourcompetitors.Indoingso,youalsoneedtomakesurethatyouaretotallyclearaboutwhatyoureselling.

4.5 The marketing mix: the 4 Ps

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PriceAgoodpricingstrategyshouldbebasedonyourmarketresearch.Businessesneedtoknowwhattheircustomerswillbepreparedtopayfortheirproductratherthansimplyworkingoutthecostand

addingontheprofittheywanttomake.

Aspartofyourresearch,compareyourproductswithequivalentcompetitiveproducts.Thiswillhelpyoudecidewheretopitchyourprices.

PlaceThesedays,placemeanseverywhereyourproduct/serviceisvisibletopotentialcustomers.Successwilldependonyourproduct/servicebeingavailableintherightplacesattherighttime.Itsnogoodsellingonlyfromyourowncompanywebsiteifyourcustomersareallbuyingfromanauctionwebsite.Itsnogoodbeingonamarketstallifyourcustomersareallinaprestigiousdepartmentstore.

Youneedtofindoutwhereyourpotentialcustomersarebuyingnow,andthen

decidewhatyourroutetomarketwillbe.

Youcould:

selldirecttothecustomer- throughpersonalselling,mailorderor theInternet sellindirectlytothecustomer-through wholesalers,retailersoragents.

Youmaywellusemorethanoneroute.

Online business: YoumayhaveidentifiedsellingviatheInternetasoneofyourroutestomarket.Settingupaprofitablewebsiteisntascomplexanddifficultasmanypeoplethink.Nordoesithavetobeexpensiveandtime-consuming.

Startbysortingoutwhyyouneedawebsite,whoyoureaimingatandwhatyouwanttoachieve.Isitanonlineversionofyourbrochureorasellingtool?Doyouwanttobeabletotakepaymentsonline?

TipTipsforonlinetrading:

answerqueriespromptly makesurethewholeofyour teamknowswhatsonthesite haveareliablewebhost publiciseyoursite makesureyouhaveasecure serverifyoullbetradingonline reviewyoursiteregularlytomake surethatproductsandinformation onpricesareuptodate.

PromotionCustomersmustbeabletoknowaboutyourproductsandunderstandthebenefitstheywillbring.Raisingawareness,creatinginterestandmakingpeoplewantyourproduct/serviceareall

importantpartsofpromotion.Youneedtocommunicateintherightwaywithprospectivecustomerssothattheyreencouragedtobuyyourproductratherthanacompetingone.

Topromoteyourproduct/servicesuccessfully,youllwanttospendsometimeplanningyourimageandbrand.Imageisthewaytheworldseesyourbusiness.Itwillreflectthewayyouvechosentopositionyourproduct/serviceinthemarket,soyouwillneedtoconsidereveryaspectofyourimage,includingyourlogo,stationery,signsandpublicity.Branddescribesthepersonalityofyourcompanyandproducts/services.

Find out more

Priceyourproductorservice:businesslink.gov.uk/startprice

Identifypotentialsaleschannels:businesslink.gov.uk/startsaleschannels

Developane-marketingplan:businesslink.gov.uk/startinternetmarketplan

Branding:thebasics:

businesslink.gov.uk/startbranding

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Themarketingmix:the4Ps

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Case study

Heres how I got my greatnew product in front ofcustomers

Name: Sam TateCompany: Sprue Aegis plc

SprueAegisFireAngelisaninnovativesmokedetectorthatfitsbetweenalightfittingandthebulb,takingitsenergyfromthemains.FireAngelchargesupitsrechargeablebatterywhenthelightison-andrunsoffthebatterywhenthelightisoff.Thecompanyhasntlookedbacksinceconvincingonehighstreetretailertosellthedetector.Itsnowstockedinaround6,000outlets.

What I didWespentmonthsdiggingoutmarketresearchreports,talkingtotheFireBrigadeandthegovernmentdepartmentresponsibleforfiresafety.

OnceweconfirmedtheFireAngelwasavaluableidea,Iwentoutontothestreettoseeiftherewasamarketforit.Webasicallyjuststoppedpeople,showed

themtheprototypeandaskedasetlistofquestions.Wealsolookedcloselyatourcompetitorsproductsandwhotheirmarketwas.

WeinitiallyworkedoutasalesstrategyinvolvingtheInternet,directmarketingandadvertising.However,wesoonknewonacost-per-salebasisthiswouldntbefeasible-wewouldhavesoldlessandhadtochargetwiceasmuch.Wethenrealisedanidealwaytoreachconsumerswhowantedaquicksolutionwasthroughsupermarkets.

Mostsmokedetectorsretailatbetween5and10.Weknewwecouldchargeapremiumbecausefittingthealarmisassimpleaschangingabulb.Itdoesntneedabatteryanditlastsforuptotenyears.

Wesetthepriceataround20buttheretailerobviouslytakesamargin.Remember-itsalothardertoputthepriceupthandropitdown,sodontgointoocheaply.

Ittookthreeyearstogetourproducttomarket.Alotofthistimewasspentondesignandsafetytesting,butittook

18monthsoftalkingtoonewell-knownhighstreetretailerbeforetheyagreedtostockthealarm.Onceyoureintherewithoneretailchain,itgetsmucheasiertoapproachothers.Butyoudefinitelyhavetobepersistenttosucceed.

Worksheet: The marketing mixPricing what you doNotedownhowyoucalculateyourprices,howtheycomparewiththecompetition, andthereasonsforthedifferencesbetweenyourpricesandyourcompetitorsprices.

How do your prices compare with the competition?

Product/service Your price Competitor price

Reasons for the differences between your prices and your competitors prices:

Isthereanythingyoushoulddotomakeyourpricemorecompetitiveortomaximisethereasonsforpricedifferenceswithyourcompetition?Putanyactionsinyouractionplan.

Worksheet: Your brandDescribethepersonalityofyourcompanyorproductsusingthewordsyouwantcustomerstousewhentheycomeintocontactwithyourbrand.Thewordsshouldntdescribeyourproduct/service,morethefeelingthatpeopleshouldhaveaboutit.Youmightchoose wordsliketraditionalormodern,understatedorbold,friendlyormysterious,homelyorprofessional.

Usethesebrandwordstohelpinformyourresponseforthemarketingmixworksheets.

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Worksheet: Promoting and advertising your businessHowandwherewillyoupromoteyourproduct/service?Promotionmeansalltypesof communication,andcouldincludeadvertising,leaflets,brochures,exhibitions,telesales,face-to-faceselling,sponsorshipandawebsite.

Whatneedstobedonetocreate,distributeandorplaceyourpromotionalitemsandadvertising?Putanyactionsinyouractionplan.

Worksheet: Routes to marketHowwillyouselltocustomers(egthroughashop,wholesaler,dealerorwebsite)?

Whatdoyouneedtodotosetupyourroute(s)tomarket?Putanyactionsinyouractionplan.

Worksheet: Review your offerTheresultsofyourmarketresearch,theSWOTanalysisandthe4Psmayhavegivenyousomeideasabouthowyoucantailoryouroffertomakeitmoreattractivetoyour targetcustomers.

Should you be targeting your product/service at other groups of customers to the onesyou originally thought? If so, why?

Should your product/service offer other benefits to customers than the one(s)you originally thought? List these:

Is your price too low/high? Make any revisions to your pricing structure.

What new ways can you think of to make your offer better than the competition?

Would there be better routes you havent considered? What are these?

Isthereanythingyoucandonowtoimproveyour4Ps?Addthesetoyouractionplan.

4.5

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Sellingisoneofthebiggestchallengesformoststart-upbusinesses.Itsfrequentlythemake-or-breakfactor.

Rememberthatwhetheryouresellingamobilephoneorbusinessinsurance,the

basicapproachisthesame-concentrateonhowyoucouldmakelifeeasierforyourpotentialcustomer.

Onceyouknowwhatthecustomerislookingfor,youcanofferthesolution-yourproduct/service.Ifthecustomerisinterestedbutundecided,removeanyremainingdoubtsbyexplainingwhyyourproductisideal.Youneedtofocusonbenefitsratherthanthefeatures.

The selling processAtitssimplestlevel,thestagesinthesellingprocessare:

Establish a relationship with yourpotential buyer:Thecustomermustthinkyouunderstandthemandareabletohelpthem.Customersinitiallyperceiveallpossiblesuppliersasthesamesoyou

needtoexplainandshowyourdifference.

Ask questions and listen to the answers:Youneedtohaveanopenmindwithoutmakingassumptions.Listeningiskeytodiscoveringwhatmotivatesthecustomertobuy.

Check your understanding is correct:Toavoidanycommunicationproblemsitsimportanttocheckthatyouvecorrectlyunderstoodeachother.

4.6 Sales

Find out morePlanningtosell:businesslink.gov.uk/startsalesplan

Thesalesappointment:businesslink.gov.uk/startselling

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Match the benefits of your product to theneeds your buyer has told you they have:Peoplebuythingsforwhattheycandoforthem.Youneedtoofferbenefitsthatmatchtheirneedsandgetthemtorealisehowmuchtheywantyourproduct.

Complete the sale:Dontexpectyourcustomertodotheworkofcompletingthe

saleforyou.Onceyourealisetheprospectisreadytobuy,stopselling.Checkandconfirmwhathasbeenagreed,thencompletethesale.Thisisbestdoneinanupbeat,positivemanner.

Notethatyoumaynotneedallthesestages,andtheymaynothappeninthisorder.

4.6

Sales

Worksheet: Summarising your business ideaRecallyourbusinessideafromsection1.Afterperformingyourresearchand lookingatyourmarketingarethereanyadjustments/revisions/editsyoushouldmaketoyourbusinessidea?

Revise and/or edit your business idea:

You have researched and developed it by:

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Worksheet: Customer care

In what ways will you ensure that your customers are satisfied with your product/service?

1. Delivery:

2. Ongoing service:

3. Getting feedback:

4. Other:

Customercareisallaboutensuringthatyourcustomersareassatisfiedaspossiblewitheveryaspectofyourbusiness.Sellingenoughofyourproduct/servicetomakeaprofitwillultimatelydependonyourcustomerscontinuingto

buyfromyou,socustomercareshouldbehighontheprioritylistforanybusiness.Itseasierandcheapertoselltoyourexistingcustomersthanfindnewones.

Therearemanywaysyoucouldmakethelivesofyourcustomerseasier:

makesuretheproducttheywant isalwaysinstock answertheirqueriesimmediately offerefficientafter-salessupport followupafterthesaletofindoutif theyhadaproblemthatyoucanputright makesureanyoneyouemploywho dealswithyourcustomersoffersthe sameleveloffriendlyand knowledgeableserviceasyoudo talktocustomersaboutwhattheylike ordontlikeaboutyourproduct/service listentotheircomplaintsandput

thesituationrightquickly,iftheyhave agenuinereasontobeupset thinkaboutwaysofofferingyourbest customersmoreegdiscounts,fast- trackingtheirorder,orsimplytaking themoutforadrink.

4.7 Providing excellent customer service

Find out more boxIdentifyandsellmoretoyourmostvaluablecustomers:businesslink.gov.uk/startcustomercare

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Whatstepsdoyouneedtoputintoplacetoensureandimproveyourcustomercare?Putanyactionsinyouractionplan.

Providingexcellentcustomerservice


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What needs to be done By whom Date

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4.8 Glossary

4 PsThecombinationofproduct,price,placeandpromotionthatdetermineshowyouwillmarketandsellyourproducts/service

Brand

Bundleofbenefitsoraddedvaluesattachedtoaproduct,personorplacetomakepeoplethinkofthosevalueseverytimetheyhaveanydealingswiththebrand

e-commerceTheabilitytosellandtakepaymentsonline

Marketing mixThecombinationofallthethingsyouneedtothinkabouttomarketyourproduct/servicesuccessfully

Route to marketHowyouwillaccessyourcustomers,directly(iefromashoporwebsite)orindirectly(iethroughretailers)

SWOT analysisAsummaryofallofyourstrengths,

weaknesses,opportunitiesandthreats

Target marketsGroupsyouchooseasthefocusofyourmarketingeffort

Unique selling proposition/point (USP)Uniquebenefit(onethatyouofferbutyourcompetitorsdonot)

4.9 Action plan

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Actionplan

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Byworkingthroughthismoduleyouvetakenanimportantstepindecidingwhetherstartingabusinessisrightforyou.

Takeafewminutesnowtowritedownanyadditionalactionsyouwanttotaketomoveyourbusinessideaforward.

Find out moreFormorehelpwithyournewbusiness:

DotheotherStartingaBusinesstheNo-NonsenseGuidemodules

AttendBusinessLinksStartingaBusinessworkshops08456009006

ContactyourlocalBusinessLink08456009006

Andourwebsite businesslink.gov.ukhasinformationonthemanyaspectsofsettingupanewbusiness


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Module 4: Finding and keepingcustomerscoversresearchingthemarket,gettingyourbusinessofferrightandsuccessfulsellingtocustomers

Module 5: Managing moneyexplainsthekeyskillsneededtoorganiseyourbusinessfinancesandhowtoapplyforfunding

Module 6: Your business planenablesyoutodevelopabusinessplantouseyourselfortohelpraisefinance

Starting a Business The No Nonsense Guideisdividedintosixeasy-to-followmodules.

Workthroughitatyourownpaceordipinandout,dependinguponyourareasofinterest.Step-by-step,thisinvaluableresourcewillguideyoutowardsyourgoalandhelpyousucceedinbusiness.

Module 1: Overviewsummarisesthebasicstepsyoullneedtotakeinordertosetupyourownbusiness

Module 2: Is starting a businessright for you?containsinformationandexercisestohelpyoudecidewhetherrunningyourownbusinesswillsuityou

Module 3: Planning yourbusinesswillhelpyoutoplanthepracticalandlegalaspectsofyourbusiness

PublishedMay2010CrownCopyrightPrintedintheUKonrecycledpaper

URN:BL/006

Aswellasthisguide,BusinessLinkoffersthefollowingsupport:

Workshops to helpyoudecidewhether

startingabusinessisrightforyouandexplainwhatyouneedtoknowtomakeyourbusinessasuccess

Practicalguidesandonlinetools

onourwebsite.Visitbusinesslink.gov.uk

Helpandadviceoverthetelephone.

Call0845 600 9 006totalktoalocalBusinessLinkadviser

Business Link0845 600 9 006businesslink.gov.uk

starting up module 4

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