Definition of Academic Transcription
Before launching your academic transcription company, you should define what academic transcription means and how it differs from other types of transcription.
Usually, people hear the word “transcription,” creating video subtitles comes into their mind. But they should also familiarize themselves with academic transcription because it can be even utilized more often than the usual transcription.
Academic transcription involves converting audio to the text of such materials as lectures, interviews, discussions, seminars, etc. As you may guess, this type of transcription is widespread among students. Not only learners but educators can rely on the best transcribers. After you determine the notion of academic transcription, we can move to the main things that should be taken into account if you intend to launch your own transcription business.
Hire Only Professionals
The reputation of your academic transcription organization directly depends on the level of quality you provide. In order to attract new clients and make them your returning customers, your company should provide top-notch transcription services.
For this, you should possess a strong team of human transcribers. Hire experts with attentiveness. You can ask potential candidates to pass special tests that would prove their skills and abilities. Moreover, you should employ helpful and stress-resistant customer support managers. They should be familiarized with the policy and operation of your company and be ready to respond to clients’ questions anytime.
Define your Audience
We have already mentioned that academic transcription involves making transcripts for learners. But you should not forget that students can be of different academic levels. In order to expand your client base, mention on your website that your transcription experts are ready to assist students of high schools, colleges, bachelors, masters, etc.
Also, keep in memory that even educators can place orders on our platform. After they receive finished transcripts, they can change the submission of educational material and correct mistakes made in their lectures or seminars.
Set Affordable Prices
As the majority of your client base are learners, you should set fair rates for your services. Do not forget that students possess many expenses such as education fees, accommodation costs, food expenses, etc. That’s creating a flexible pricing policy would be a proper decision here.
Do not set extremely low or high rates. Keep in memory that you should pay fair salaries for your professional human transcribers. You can regard the possibility of creating loyalty programs for your returning customers. This can be discounts for next orders, promo codes for first orders, extra free of charge features, etc.
Providing transcription services to learners, you should remember that there is always a part of potential clients who will hesitate whether to place orders on your platform. The reason is that they do not want their educator or group mates to find out these students asked for online help.
To show that your company is reliable, mention on your website that you guarantee 100% confidentiality. You should warrant that neither your managers nor transcribers will share the clients’ personal information with third parties.
Do Not Hide Opinions from Clients
As the future owner of the business, you should prepare that your clients can place not only positive testimonials. Even if you operate the company perfectly, there will always be displeased customers. Of course, such clients will place their negative reviews concerning cooperation with your organization.
In this situation, you should act as a fair owner of the company and demonstrate not only positive testimonials on your website. First, potential clients will view that even if your company is not perfect, you are not ashamed of your mistakes and will make all effort to fix them. Secondly, you can really analyze what was made wrong and try to resolve the dispute with displeased customers. By correcting your mistakes, negative testimonials will gradually appear less and less.
Do Not Forget about Legal Aspect
Making your company legal will not only raise the trust of clients toward your company. But also establishing a legal business entity will secure you from being held personally liable. This is helpful in case your transcription company is going to be sued.
Also, if you do not want to have problems with the law, you should register your company for a variety of taxes. This should be performed before you launch your business. This procedure is simpler to execute than it seems.
Another important thing is to open a business bank account. This will enable you not to mix your personal and business accounts. Also, your personal assets will be secured. Moreover, this procedure makes accounting and tax filing simpler.
Work on the Brand of Your Company
As your company is just going to appear on the market, you should think about the development of your brand. Create an eye-catchy name for your company, develop a user-friendly and easy-to-navigate website. You can even think of placing advertisements for your company.
Your aim is to stand out from other candidates and make clients place orders on your new platform rather than a familiar one. The best way of attracting potential customers is by creating profiles of your company on social media. Take into account those social media where your target audience appears the most often.
Time for a Conclusion
We can conclude that starting your academic transcription business is not as easy as it can seem. There are many aspects that should be taken into consideration. But after you perform everything properly, your company will prosper, and the client base will increase.
If you don’t want to result in hefty fines, you should obtain necessary permits and licenses, also think about the services you are going to provide, analyze how much profit your transcription company can make. After you launch your company, you can think of strategies that can make your business more profitable.
Do not rush with performing actions mentioned in this article. Think over everything to the smallest detail, and you will gain success.