Isn’t it a bit risky to be choosy and welcome only a portion of your potential market? Why should you define and pin-point your ideal customers?
A number of years ago, we were contacted out of the blue by a Christian organization that needed their sermons transcribed. Right away they requested discounts on our rates; promising us a huge bulk order when we complete the first project. As a Christian owned business, we love helping churches and pastors so we went along with the low rates even though it was way below our normal discount rate.
After agreeing to transcribe their sermons at very low rates we requested them to send through their sermons for transcription. Once we got the audio files, we realized that almost all the audio files were what we consider ‘difficult’.
The sermons were recorded live in what seemed to be open air stadium or something. It was impossible to comprehend the pastor giving the sermon.
This meant that we spent double the time in transcribing the sermons and also only about 70% of the sermon was audible.
This was a big lesson for us. We love helping out people and even giving them discounts. However, when we ended up spending more time on their projects for lower rates we realize it was a mistake.
- Never finalize rates before assessing the audio files and ascertaining their requirements.
- Being helpful and having a good intention is not always the best for business
- Customers looking for cheap transcribers and low-cost transcription services are often the most demanding to serve.
Needless to say, we never got the bulk order we were promised.
That is why, even when you are a start-up, you have to define your ideal customer and avoid costly mistakes.
As a transcription service provider, in theory, we could transcribe for anybody and everybody. However, we are not a not-for-profit organization. We have to make profit to stay in the market.
Our Ideal Customers
We want to help organizations and individuals who are all about productivity and improving their profitability in the long run. We are the back office for administrative assistance and typing tasks for small and medium organizations that don’t require full-time assistants and full-time transcribers.
We love assisting small law firms and individual lawyers who need transcription assistance but don’t want to spend too much on hiring full-time transcribers and administrative assistants in-house. In fact, one of our long-term customer is an ‘online’ law firm that has no administrative department. They don’t even run a traditional physical office!
We love assisting video production houses in their post-production and editing processes. In fact, some of our long-term customers are video production houses.
We provide affordable transcription services to students and academics by discounting up to 10% our rates.
If you are looking for a cheap transcription service, we are not your provider. We’ll have to look somewhere else.
We value our time as much as we value your time. We also respect customers who value our time and expertise.