Basics of Service Business

If 70% of the gross domestic product is counted as a service business in the world; then it would relatively mean that 70% of the arab entrepreneur start-ups are considering the service business in their ideas. So are we clear that either you’ll be looking for the service business or you already got one. The question that lies here: Are you crystal clear on how service business is majorly different from the product business?

Service is performed, not produced; yet you might produce an application or website (like you develop social media – facebook application, then offer this service to the users, who consume/use it and keep on performing it in terms of feedback, errors, upgrades, etc…) Therefore, you need to measure it in terms of performance not production while managing your assets, budget, resource, and time. While consuming it, you can pop-up or notify them with your request to send feedback which is part of the communication process that is different for a product business to do. Through this consumption process it is required that you dig for the feedback:

a) Try to get instant impression about the quality of service (how did the quality of service met your expectations)

b) Measure their level of satisfaction in a very clear question (rate how much you are satisfied)

c) Expose their level of loyalty (are you likely to visit/use/buy/get our service once again)

d) Measure their level of brand equity (how do you value our service against the competitors)

With this little questionnaire, many findings would come out with un-expected results, it will define who is your real target audience, how much your service benefits are, what is the level of your client satisfaction, what are your real unique selling points, and a lot more of ideas and statistics.

I will write about this thoroughly in my upcoming writings that I consider a vital discussion in the online business in the Middle East. (Getting to know how to deal with the audience when they are offering a different perception form product business)

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Tarek is the founder and chief researcher at Youngberry, a youth research and marketing firm dedicated to the region. Tarek founded and previously worked as Manager at Flip Media (Interactive Agency), (Job Site) and Consulting House Qatar (Consulting firm). He is researcher and writer on internet & disruptive innovation, entrepreneurship, and youth culture.