Service strategies to use in business, and to what target market.
When setting up in business, whether it trades in the real world or only online, you need to develop a service strategy that you would like to push to your target audience. Your service strategy is what you are offering to your customers and the value they perceive from it. Every business needs to have some sort of strategy in place or there will be no direction.
In this article I have outlined 3 potential strategies that can be used to define your target market. It is completely up to you which route you decide to go down, however you must completely stay with your decision...
More for less - Providing your customers with a service that goes that little bit further for less money is ideal for attracting people in the lower end market. Servicing people with smaller budgets does not necessarily mean bringing in less money to your business. By going down this route you are looking for volume sales, and with lots of people starting up in business these days, this will rarely ever be a problem. Your aim here is to capture as many customers as you can and turn over the service as quickly as possible.
Less for more - As strange as this may sound, there is a definite market out there for people that are happy to pay more for small things. Lots of people in this world that like to feel "elite", and if you advertise in the right way and to the right people, you will find plenty of customers who are prepared to pay that bit extra. Clearly with this option you will get less sales per year, but your profit margin will be high to compensate for this.
More for more - The third and final option is aimed at customers that have more money to spend but still want to see value in what they buy. This way you can set your prices high, but remember, you'll still need to provide a full and comprehensive service for every sale.
No matter what strategy you opt to go for, you should always make buying a happy experience. I always tell people to under promise and over deliver, giving a customer more than expected is a sure way to get them coming back to you again, or referring people they know your way.
http://goarticles.com/article/Service-strategies-to-use-in-business/4961769/
When setting up in business, whether it trades in the real world or only online, you need to develop a service strategy that you would like to push to your target audience. Your service strategy is what you are offering to your customers and the value they perceive from it. Every business needs to have some sort of strategy in place or there will be no direction.
In this article I have outlined 3 potential strategies that can be used to define your target market. It is completely up to you which route you decide to go down, however you must completely stay with your decision...
More for less - Providing your customers with a service that goes that little bit further for less money is ideal for attracting people in the lower end market. Servicing people with smaller budgets does not necessarily mean bringing in less money to your business. By going down this route you are looking for volume sales, and with lots of people starting up in business these days, this will rarely ever be a problem. Your aim here is to capture as many customers as you can and turn over the service as quickly as possible.
Less for more - As strange as this may sound, there is a definite market out there for people that are happy to pay more for small things. Lots of people in this world that like to feel "elite", and if you advertise in the right way and to the right people, you will find plenty of customers who are prepared to pay that bit extra. Clearly with this option you will get less sales per year, but your profit margin will be high to compensate for this.
More for more - The third and final option is aimed at customers that have more money to spend but still want to see value in what they buy. This way you can set your prices high, but remember, you'll still need to provide a full and comprehensive service for every sale.
No matter what strategy you opt to go for, you should always make buying a happy experience. I always tell people to under promise and over deliver, giving a customer more than expected is a sure way to get them coming back to you again, or referring people they know your way.
http://goarticles.com/article/Service-strategies-to-use-in-business/4961769/
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