A good business idea and a persuasive value proposition do not guarantee success on their own. Customers will not queue up at the door of a start-up if they are unaware of its existence. Indeed, even if they are aware, they still might take some persuading to try a new, unproved product or service. As a newcomer to the market, you have little or no credibility or reputation. Even if you have a brand, customers will not initially recognize it. And then you still need to persuade them to purchase it again, and again. Your brand should help them do this, but building the relationship that underpins an effective brand will take time. You need to attract the customer segments you are targeting and persuade them to start the journey to become the valuable loyal customers we discussed in the previous chapter. It is not easy or straightforward, even if you have the best product/service in the world.
Swipe to navigate through the chapters of this book
Please log in to get access to this content
To get access to this content you need the following product:
- Communicating your value proposition
- Macmillan Education UK
- Sequence number
- Chapter number