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Startup Events
Startup Events
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Devashish Shrivastava Top Contributor
Undergraduate student | Content Writer

5 Ways Events Help Startups Grow:

1. Differentiation is Value

The best way to stand out from a crowded market is to be different and tap into a smaller, unstructured segment of the market.

Conferences are like the Internet in the way they can tap into a specific niche and address customers who are looking for a community, a place and a message that resonate with their own life or business.

An important way for tech events to differentiate themselves is to cover a new topic or an emerging trend. Anybody starting a conference on Drones or Artificial Intelligence will be able to serve several industries at the same time and bring value to a community that still needs guidance on what its weirdness is about.

This is the role of Field Configuring Events as defined by Lampel and Meyer:

Field-Configuring Events (FCEs) are temporary social organizations such as tradeshows, professional gatherings, technology contests, and business ceremonies that encapsulate and shape the development of professions, technologies, markets, and industries. They are settings in which people from diverse organizations and with diverse purposes assemble periodically, or on a one-time basis, to announce new products, develop industry standards, construct social networks, recognize accomplishments, share and interpret information, and transact business.

2. Support your Ecosystem

Highlighting a local ecosystem is the most efficient way to help startups grow. As a matter of fact, this is the starting point of any important conference and one of the key drivers to success of accelerators and... (More)

Answer

Customer retention

It is the transformation of one time customers to repeated customers.Keeping your customers is the main goal.

New customers and existing customers are much different from one another.Existing customers know more about you and the product/service because they have already experienced it. But new customer will be whole new ,you will have to explain him every scheme, types of products, specifications etc. It's expensive to keep new customers in comparison to existing. It's more profitable in long run and marketing costs can also be reduced.

Best way to retain : 

Customer loyalty - Make your customers feel valued by providing them with royal treatment. Introduce them with new product,offers and discounts.

Complaints - You will only be able to get customer retention by satisfying them.If there is any complaint from the customer, it is the prime duty to take care of it.

Emails - Every email can work. It's just to grab the opportunity by setting expectations. Messages like order confirmation, shipment ,delivery and feedback can help gaining customer retention.Through this you are in touch with the customer.

Be truthful - One should be honest with their customers by providing them fair price, good quality products and disclosure about exchange policies.

Customer's interest - Market according to your customer's interest.One149 should know what their customer want so that they can provide suitable product accordingly .

 

 

 

 

 

 

Answer

Terms such as competitive advantage, markets and business, are usually associated with companies in the for-profit sector. Yet operations management is also relevant to organizations whose purpose is not primarily to earn profits. Managing the operations in an animal welfare charity, hospital, research organization or government department is essentially the same as in commercial organizations. Operations have to take the same decisions – how to produce products and services, invest in technology, contract out some of their activities, devise performance measures, and improve their operations performance and so on.

However, the strategic objectives of not-for-profit organizations may be more complex and involve a mixture of political, economic, social and environmental objectives. Because of this there may be a greater chance of operations decisions being made under conditions of conflicting objectives. So, for example, it is the operations staff in a children’s welfare department who have to face the conflict between the cost of providing extra social workers and the risk of a child not receiving adequate protection.

Need for Management Structures

The first and foremost requirement for a nonprofit is to have a board of directors who provide the high level monitoring and control. The board members can be drawn from all walks of life and must have enough experience in the social sector. Further, the members of the nonprofits should be on the board as executive members. Apart from this, the nonprofits must have internal financial controls through auditing and monitoring of the inflows and outflows of funds. This... (More)