5 Simple Reasons why you should do your internship in Estonia

In March 2018 I moved to Tallinn, Estonia to do my internship at Katrium OÜ. An Estonian market research and business support services company. It is for customers in Scandinavia, Russia and the Baltic countries. If you have a problem to decide where to do an internship, here are five key reasons. Why choose the opportunity to live in Estonia?

the view of central squere in Estonia which you can see during your internship

1. Beautiful city

Tallinn – quickly developing and a very busy city. It has an amazing medieval centre that is the best medieval centre in Europe. The city is with many options to do. Cultural, sport and other activities. Whether it is the weekend or a weekday, there is always something to do. So, no time for boredom.

Picture shows Estonia digitalization

2. Estonia leads the way to digital future

With the support of the European Union, Estonia started building its e-government program since 1996 with the introduction of e-banking. As well as, the country quickly digitalized many parts of the government. They allowing even foreigners to sign up. And to be a part of the digitalization with the high-reaching e-residency program.

Picture shows digital life in Estonia

3. An international internship environment in Estonia

However, an internship in other country is a great opportunity for relevant working experience in an international surrounding. It helps to secure a future dream job. Estonia’s positive reputation in other country makes sure of that a work placement here make a great addition to resume.

This picture shows that you can make a lot of frinds in Estonia during your internship

4. Meet the best people in Estonia during your internship

Moreover, Tallinn is a great place for making both local and international friends. Tallinn – truly an international city and houses and foreign students. That combined with the city’s excellent nightlife guarantee a great time.

This picture shows a guy traveling to Estonia for internship

5. Many great countries near

Also, Estonia good position and great infrastructure. So, it is easy to travel to neighbouring countries such as Finland, Latvia, Lithuania and Russia. For example, take a ferry from Tallinn to Helsinki in Finland and arrive in only two hours. Do not forget that over 50% of Estonia territory is in forests. So, nature over sightseeing in cities and there are many things to do.

Interested to know more about a possible internship at Katrium? Send your CV to hr@katrium.eu today and we will contact you as soon as possible or click here to read more! 

Competitors analysis for better company performance

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Companies’ need competitors analysis. Today’s market is very volatile, nothing is constant anymore. Customers buy from you and tomorrow they change their mind and turn to your competitor. So, it is vital to fight for your customers. Business constantly needs to innovate how to keep them also not forgetting to attract the new ones.

There are very few virgin customers on the market, those that have never bought from you nor from your competitor. Their percentage is so minimal after all that they do not deserve so much attention, especially if your reputation speaks for your quality and is thus attract sufficiently new buyers. It is a huge mistake to disregard a huge amount of customers that could be yours. Yes, those that are buying from your competitor.

Businesses must stay original and keep on learning. It is vital to upkeep constant excellence in performance. And where best to learn than from the competitor?

If you will understand your competitors, you will better understand the customers that you don’t have. Knowing your competitor is key to understanding your customers and their behaviour – why do they buy from you? Why don’t they buy from you?

Best market strategies are to offence and defence. You need to surprise your competitors and overwhelm your customers.

What shall I look for?

First of all, understand the market size. Who are the most important players and how important they are to your customers? There are different kind of competitors: direct and indirect. Understanding both of them will unseal the market potential and will give you a sight of the whole market horizon.

Next things are the pricing, positioning and customer service of your competitors. All of these are important factors that deserve your attention.

So what are the tools to learn from a competitor?
  • Visit your competitor. Explore their store, visit the office, send them an email, call their customer service, act as their customer.
  • Talk to your customer. It is amazing how much your customers know more about your competitor than you do. Find out if your customers previously have used the services of your competitor and how did that go.
  • Take a look at social media and the internet. Read reviews, look at the new products and services launch, see their blogs and company press. There is so much information available online.
  • Follow up yearly the progress. Document the data and benchmark yourself to see yearly trends.

In conclusion, finding out the competitor’s strength and their weaknesses will definitely give you a new perspective. It will give you fresh ideas on how to develop yourself in the eyes of your customers. You will have tools to understand your market potential and customers deeper than ever before and re-evaluate your market position. In the end, this is the key for better business.

Katrium offers its customers a set of tools to perform a reliable competitor analysis on a yearly basis. Read more about our research services here.

Clients and their importance to buy from you instead of your competitors

Picture represents ideas which appears for a better clients understandingHow often your clients become seduced of other companies? Let’s imagine a situation where Company A asks an offer from Company B for their services. First, company B sends their best possible offer to Company A. But eventually, they decide to buy the service that they need from Company C. 

In this kind of situation, you can either leave it or you can take a look at the whole picture.  One option is to ask Company A why they chose to buy from someone else instead. Clearing this out will help you to improve your business. Also, it can help you to bring Company A back when they notice that you care about your customers’ opinions. So, how do you make such enquiries politely and without getting the other party’s guard up? Here’s how:

WHY clients are important?

Customers are the ones who bring you the profit, not you or your staff. Understanding customers’ needs are essential. They not only bring the money to the company – but also give you an advantage over your competitors. No one else knows better than clients themselves what they want. And whoever does the best job of listening to their customers wins the market share.

Talking to and thanking customers who bought something from you is important, but asking “why” from the ones who did not buy from you should be at least at the same level. It could be that they did not like something. It could be the product, price, selection, customer service or maybe you did not interact with them enough. There are a million different reasons, but you cannot know for sure unless you ask. Assuming the main issues that caused it sends potential customers straight to your competitors’ door.

By asking the customers “could you please elaborate what was the reason that made you go for our competitor’s offer instead of us” will help you to meet customers’ needs and improve your own business. Of course, asking ten customers, who decided to not buy from you, and getting ten different answers will not lead anywhere, but if four or six out of the ten customers name the same issue, maybe you should take a look at that particular aspect of your business/offer and think what you could do differently, better. The more satisfied your customers are with your services and products, the more likely it is that they become your loyal customers and recommend you to their colleagues and partners.

SOLUTION

So, how should you ask this easy question from the customers who chose to go with the third option instead of your offer? The answer is easy. You need to ask them for feedback. But this takes time and effort. Also, you need to know how to ask the right questions. You do not want to waste your own or the customers’ time with irrelevant questions. It is not necessary to ask questions, that do not provide you with any further information and thus risk the chance of getting any responses at all. A good option would be to outsource the feedback process to an external survey company. The company that has the resources to create a survey with relevant questions that fit your company’s needs and make the interviews with the customers who slipped away from you.

RECOMMENDATIONS

You could create your own online survey. Surveys like that give a chance to the current as well as potential clients to decide when they want/can answer. The survey could be sent to them by email or you can set it up into your website where everyone can complete it whenever they want to give you feedback or explain what qualities they look for in a cooperation partner.

But if you want to ensure a larger number of answers and to reach people directly then phone interviews are a better option. Making a phone call to your customers has higher survey response rate than online surveys. What could be a better way to find out what your current customers, as well as the lost customers, think about your company and your ways of doing things than by talking to them? On the phone, you can ask follow-up questions from the respondents. It helps you to get a better overview of their thoughts and ideas. That way you get more detailed responses which can help you to have a clearer idea of how you are doing as a company.

However, all of us know that most of the companies do not have enough time to call all the clients that chose to go for another company’s offer instead of yours. This is the point when research and consulting company steps in and asks the questions for you. Outsourcing the service to the specialist in this field saves you time and gives you high-quality analyses. All you need to do is to let the specialists do the work for you.

Katrium offers its customers a set of tools to perform reliable customer service. Read more about our services here.