CX Index – Capturing valuable customer feedback

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David Heneghan is the CEO of CX Index, a Voice of the Customer software company successfully doing business in the Nordic region

What does CX Index do?

CX Index is a feedback management platform. Our SaaS technology enables our customers to capture feedback from their customers through channels such as email, chat and IVR. Then, with a range of automated processes, we integrate that feedback with a host of other data sets, so our customers have the context that is necessary to measure, manage and ultimately improve customer experience.

According to Gartner’s latest Voice of the Customer vendor guide, there are over 1000 vendors within the voice of the customer space, with 29 of these leading the wa “based on their vision and technology”. CX Index is in that cohort of 29, which includes others such as Qualtrics and Medallia and the market in which we operate is incredibly competitive. This is why we invest in innovation, including utilising AI and machine learning capabilities to remain differentiated from our competitors.

 

What inspired you to start the company?

I started my career as a bond trader for an investment bank and I saw that the decision-making tools that traders used to bet on the performance of companies seemed superior to the decision-making tools of the companies we were betting on as traders. After digging a bit deeper, I discovered that the problem for the corporates was not a lack of technology, capability, or resources – the problem was a lack of data related to measuring customer experience.

I discovered that feedback is the key metric for customer experience and determined that it would be great to build a tool around this. I then realised that there was a burgeoning industry dedicated to solving this problem but also recognised it was a large market still in its early days.

Having identified the opportunity, I needed to find someone with technical abilities to build a product. I then got introduced Piotr, who is our CTO, we started the business 8 years ago and it’s been a great journey that I would recommend anyone to take.

 

What first attracted you to the Nordic region?

Back in autumn 2017 I was on a call with a Gartner analyst who was advising on the latest trends around customer experience and during this conversation I asked which markets he thought would be best for an emerging business like ours. In European terms he said he would recommend the Nordics as he felt that the Scandinavians are forward thinking with technology and open to fresh ideas and solutions plus the markets were a bit smaller than the likes of France, UK and Germany, which make them more manageable.

Around the same time we were introduced to a Scandinavian company that was in the same space as us but doing something different.

Knowing what the analyst had said to me, I immediately decided to get on a plane to meet the prospect face to face. I think it’s important where appropriate to do that, once it adheres with official travel guidelines. It shows a level of commitment, and very soon after our first meeting we started working together. Over the last 2 and a half years we have worked together to sell into over twenty companies in the Nordics, three of which were in the last two months which is remarkable given the current climate.

 

The company has seen strong growth in the Nordics – what do you attribute your success to?

Firstly, we have been lucky with the partner we found and have put a lot of work into provisioning our technology so that the partner now has a lot of autonomy in selling our platform. They are not just re-selling our tool, but they have the capability to market, to sell, integrate and set up their customers on our platform without the need for us to ever meet any of these customers. This wasn’t straightforward by any means, but it has set us up on a firm footing for a fruitful long-term relationship.

 

What type of companies do you sell into?

We have customers in a host of industries such as retail, retail banking, insurance, hospitality, utility companies (nine of which are in the Nordics), travel companies, B2B companies, BPOs, technology companies and government agencies. Basically, if a business needs to capture feedback from their customers, we generally have a solution to fit their needs. That said, we primarily work with medium to large businesses.

 

What are your top tips for exporting to the Nordics

1. Get on the ground to build your network

Face to face meetings count for a lot, so the best way to achieve that is to go and meet people once you comply with current travel advice. If you feel like it’s a market that you want to pursue, it’s worthwhile reaching out to Enterprise Ireland in the region, as they host great events and offer a range of support.

 

2. Find a partner

If you can identify a strong partner that has a complementary solution or product, it makes life a lot easier. It’s easier for them to sell into their existing customer base than for you to start from ground zero. We have been very lucky with the Provad / Visma relationship.

 

3. Focus on a region

If you get success in a geographic region or country, we have found it is good to focus on that region and try to expand your capabilities there. Having experienced growth in several markets now, we know that local references do count for a lot and it is worth trying to capitalise on these.

 

What are your aspirations for the future of CX Index in the Nordics?

We have had a lot of success in the Finnish market to date and are looking to expand our footprint in Norway, Denmark and Sweden. I hope to double our customer base in the Nordics before the end of 2021. Given our track record, I think that this is eminently achievable, even with what is happening with the Covid-19 pandemic.

It is nice to work in places where there is a nice culture and as a region for doing business I plan for it to remain a top priority for some time to come.

 

Contact our Nordics team to discuss how Enterprise Ireland can support your business.

Graduate Stories – The opportunity to be part of a professional & dynamic team

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Currently in year two with Enterprise Ireland’s National Graduate Programme, Stephen McLoughlin describes his experience of working across the Brexit division and Covid-19 response unit.

Coming from a background in political science, I always had an interest in doing something related to government but I didn’t want to be a civil servant. Enterprise Ireland is unique in that you’re engaging with the private sector, so you’re at the cusp of where the public and the private sector meets – and that really appealed to me because you see both sides and you feel like you’re flying the Irish flag for Irish companies and really making an impact.

 

Applying for the Graduate Programme

I became interested in Enterprise Ireland after talking to some executives at the open day in the Helix while studying for a Masters in DCU in Business Management. The application process is very intense – if you’re in college, you have to set that time aside to apply for graduate programmes because they do take a lot of time to complete. It’s important to do your homework and I’d highly recommend attending the recruitment days so you can meet previous graduates working in the organisations and get an insight into their roles.

The assessment centre part of the application process is tough. It’s worth putting the time into researching what happens in an assessment centre and how it works – there are some valuable insights to learn, such as not being the most dominant person in the room, allowing everyone their chance to speak and using your limited time effectively. The experience does give you an insight into what the role entails and the challenges that it brings.

After the assessment centre, there’s an interview, and a lot of preparation should go into this, especially if you haven’t done much work in competency-based interviews. Look into what skillsets you have that would align with the type of competencies Enterprise Ireland  is looking for. All the information is there online so it’s just a matter of putting the time in to research. The interview is intense but it’s a chance to demonstrate what sort of person you are and what you can bring to the role.

About ten of us commenced the programme in August 2019. We were trained with the international grads, and it was a great chance to meet everyone and begin to network – which is central to our roles.

 

Working on the Brexit response

I was assigned to the Brexit unit – as I had studied political science in my primary degree, this was a dream for me. The Brexit Zone had a dedicated space at International Markets Week in 2019, so I was really thrown into the deep end from the very start – which was a really great experience as I think I met three or four government ministers in my second week and it gave me a huge insight into the advisory piece provided to client companies regarding the challenges posed by Brexit.

“The role gave me the opportunity to develop and enhance my skills as a communicator.” says Stephen McLoughlin

Networking takes a bit of work to master, specifically how to make the most of a conversation and optimise the time you have with a client or a buyer. It’s the professional world and everyone just wants to get the work done as quickly and as efficiently as possible.

We had a lot of Brexit events, so in my first couple of weeks I was able to meet a lot of people all around the country in sectors that might be affected by Brexit. Internal networking is really important too. It’s a really big organisation and you’ll struggle during the first few weeks to meet everyone but they really encourage you to get up from your desk and get involved in projects or events – sports, charity fundraisers and so on.

My role changed dramatically in 2020 when most of the Brexit team became part of the Covid-19 response team. What was really interesting is that our Brexit insights prepared us for this, as a lot of the products and services put into place to help companies during Brexit had parallels with those developed to help clients through the Covid crisis. Advising businesses where to go for support through government agencies has been a big challenge and tough at times but it’s meaningful, practical work that really makes a difference.

If you are interested in joining the Enterprise Ireland Graduate Programmes, check your eligibility here: National Programme /  International Programme.

Supporting Regional Development Critical To Future Jobs Growth

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Resilience is a word we became used to in 2020 and it is an apt term to describe how Irish business responded to the dual challenges of the Covid-19 pandemic and the end of the Brexit transition period.

For thousands of businesses across Ireland, and their staff, it has been a tough, challenging year marked by disruption and uncertainty. But what has been remarkable is how Irish businesses have responded to the impact of Covid-19 and Brexit.

At Enterprise Ireland we work closely with the Irish manufacturing, export and internationally traded services sector.  We invest in established companies and start-ups, we assist companies to begin exporting or expand into new markets and we back research and development projects creating future jobs.

This week we launched our annual review for 2020.  The good news is that the companies we are proud to support employ more than 220,000 in Ireland.  Despite the challenges faced in last year, nearly 16,500 new jobs were created, closely mirroring the 2019 outturn.

However, job losses were significantly higher than in previous years, resulting in a net reduction of 872 jobs across the companies we support.

There is no sugar coating the fact that it was a tough year for business.  However, behind these statistics are individual stories of companies taking brave decisions to change their business model, reimagine their product offering and find new ways of doing business and connecting with customers to trade through the impact of Covid-19 and Brexit.

Enterprise Ireland has worked with these companies throughout the year to ensure viable companies have the liquidity, supports and advice they need to trade, and importantly, to sustain jobs.

Enterprise Ireland supported companies have a key role in the Irish economy.  65% of employment is outside the Dublin region and these indigenous Irish companies, many of which are world leaders in their field, are critical to delivering balanced regional economic development.

Powering the Regions is Enterprise Ireland’s strategy for regional development.  It outlines specific plans for each region in the country, drawing on their existing enterprise base, their connections with third level institutions and their unique potential for growth.

The strategy is backed significant funding.  This time last year more than €40m was allocated, in a competitive call, to 26 projects fostering regional entrepreneurship and job creation.

These included the Future Mobility Campus Ireland, based in Clare, which explores the potential of autonomous, connected and electric vehicles, UCDNova’s Ag Tech innovation centre in Kildare and the Clermont Hub in Wicklow which focuses on content creation and draws on the region’s established film and audio/visual track record.  The 26 projects were supported under the Regional Enterprise Development Fund, which has seen €100m invested in similar projects since 2017.

Given the potential impact of Brexit, particularly in the Border region, 11 similar projects designed to cluster expertise and innovation were supported with €17m in support under the Border Enterprise Development Fund in 2020.

These were strategic initiatives, closely linked to government regional policy, with a medium to long-term focus on supporting regional enterprise.

However, due to Covid-19, Enterprise Ireland moved last year to provide more agile interventions to regional businesses assist them to reset and recover.

Ensuring that viable companies had the access to finance was an important necessity.  Through the government-backed ‘Sustaining Enterprise Scheme’ Enterprise Ireland allocated €124m last year to support more than 400 companies employing more than 10,000 people.  The majority of this funding went to regionally based companies.

Similarly, €8.2m in funding for 95 enterprise centres, which are critical to the start-up ecosystem and future job growth regionally, was made available in September.

Retail business across Ireland also benefitted from the Online Retail Scheme which saw 330 retailers allocated €11.8m in funding to enhance their online offering, reach new customers and increase sales.

Through a mix of strategic funding aimed at long-term enterprise development and more agile funding supports Enterprise Ireland has helped to sustain jobs throughout Ireland in 2020.  We’ve also supported those sectors, such as cleantech, construction and life sciences which continued to grow and create jobs last year.

The pandemic will have lasting effects including how we work and where we work.  Many of these long-term changes can complement strong local and regional economies.  A key element of the Powering The Regions strategy was the potential of remote working and co-working hubs that Enterprise Ireland is committed to developing with our partners.  That potential has been accelerated by the changing work patterns evidenced in the past year. Now, more than ever, having a strategic approach to enterprise development is vital, and Enterprise Ireland looks forward to the role it can play as we recover and build for the future.

By Mark Christal, Manager, Regions and Entrepreneurship at Enterprise Ireland.

New African Dawn: Launch of the Continental Free Trade Agreement

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A new year usually brings with it hope, optimism and new resolutions. The first two weeks of 2021 have however been fraught with the on-going pandemic, Britain’s exit from the EU and increased protectionism and populism around the globe. In marked contrast with this tone, one continent is pushing forward with hope, optimism and new resolutions.

The first of January 2021 saw the launch of the African Continental Free Trade Area (AfCFTA). This milestone agreement strives for greater trade cooperation on the continent. The aim is to bring together 1.3 billion people in a $3.4-trillion economic bloc that will be the largest free trade area since the establishment of the World Trade Organization. This agreement comes into force, with support from 54 of the 55 countries recognised by the African Union (Eritrea being the sole exception) is a hugely positive move.

The Agreement establishing the AfCFTA was signed in March 2018 and of the 54 Member States of the African Union that have signed, 30 countries have deposited their instruments of ratification with the Chairperson of the African Union Commission.

The main objectives of the AfCFTA are to create a single market for goods and services, facilitate the movement of persons, promote industrial development and sustainable and inclusive socio-economic growth, and resolve the issue of multiple memberships, in accordance with the African Union’s Agenda 2063. The agreement lays a solid foundation for the establishment of a Continental Common Market.

AfCFTA presents a significant opportunity to boost intra-regional trade as well as increase Africa’s negotiating position on the international stage. Intra-African trade has always been relatively low. In 2019, only 15% of Africa’s $560-billion worth of imports came from the continent – compare this with a figure of 68% in the European Union (UNCTAD).

In addition, many African nations have struggled to develop better-enabling environments for attracting investment and it should follow that this agreement will help to make the continent an increasingly attractive location for foreign companies seeking to penetrate its huge market potential.

This landmark agreement is off the starting block but there is much to be negotiated to reach the desired goal of #OneAfricanMarket.

Under AfCFTA trading, with an aim to eliminate export tariffs on 97% of goods traded on the continent, tariffs on various commodities where rules of origin have been agreed will be drastically reduced and businesses of all sizes will have access to a much bigger market than they used to before. Non-tariff barriers (NTBs) to trade will also be addressed and a mechanism for reporting of NTBs has been put in place (www.tradebarriers.africa).

In parallel to the AfCFTA, the African Union has also introduced the Protocol on Free Movement of Persons.

Though it will be years before the AfCFTA is fully implemented, the significant steps that have been taken to get the agreement to this point should not be underestimated, particularly in the current difficult global environment. Increasing prosperity on the African continent will ensure that it continues to be a continent of great interest to Irish exporters.

Enterprise Ireland has been assisting Irish companies to navigate the Sub-Saharan African market through our office in Johannesburg, along with an established and growing network of industry specialists across the continent. Contact us to learn more about the opportunities for your business in this growing export destination.

Nicola Kelly, Senior Market Advisor, Middle East, Africa & India

Jenny Melia, Minister Damien English, Katie Farrell

SQUID: Enabling every business reap the rewards of a customer loyalty scheme through a handy app

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At a time when business recovery is on everybody’s mind, winning the loyalty of customers and ensuring repeat business has never been so important. Exactly in the right place at the right time is a new Irish company with a unique product that allows businesses of all sizes implement an effective loyalty scheme for a small price each month.

Established by engineering graduates and best friends Katie Farrell and Matthew Coffey, and supported by Enterprise Ireland’s Competitive Start Fund, SQUID is an innovative loyalty app that is free for customers to download and can hold “virtual” loyalty cards for a range of businesses.

“It was something that a few people were talking about,” explains Katie. “For instance, for food delivery, you have Deliveroo, Just Eat and so on, but for loyalty, many businesses were still using swipe cards, paper cards or their own app. People tend not to want to sign up to too many loyalty schemes because they mightn’t want a load of cards or different accounts.”

The concept is simple so it’s no surprise that Katie and Matthew quickly found several businesses interested in their idea. “It’s a free app, and currently we have over 600 sites on it. We have about 60,000 people using it now.

“The business gets a small device that the customer simply taps with their phone and it adds a “stamp” to their virtual card for that business.” explains Farrell

 This is the basic offering but we’ve added a lot more since then; for instance businesses can now reach out to their customers through push notifications. We’re also looking at doing more integrations as well, for example with food ordering and booking – so in other words, we’re looking at anything a business has to do to drive loyalty, and then we want to simplify it.”

 

Benefits for a small investment

The rewards to the business are significant, especially as the basic package costs just €20 per month. “The app is affordable, it’s free for the users, and it’s more eco-friendly than the printed cards. But people engage with it a lot more than with a paper cards. For instance, 91% of people that placed their first loyalty stamp with SQUID this year have gone on to make another purchase and get another loyalty stamp. And then there’s the ability to actually reach out to your customers as well. We also have a discovery page so you can find new businesses in your area. 

“Each business has their own branded profile page with opening hours, location, social media links, menu etc, so it’s a way of finding new customers too.” says Farrell

Another key benefit is that the business doesn’t have to worry about GDPR. “The contact details and identity of individuals are hidden from the business owners, so they don’t know who they’re talking to or can’t contact them individually by name,” says Katie. “So in a way it saves the businesses the worry about GDPR and for the customer, they can simply turn off the push notifications if they don’t want to receive communications.”

 

Working through Covid

The app launched in October 2019, as Katie and Matthew had put together a small waiting list of customers who were interested in the scheme when they heard about it through SQUID’s initial market research. “We launched with the first five customers in September 2019,” explained Katie. “We decided to start small and grow from there as we were a small team, but we started getting a lot of interest and were onboarding people regularly until Covid hit.”

The beginning of the Covid-19 pandemic resulted in a significant shift in the company’s clients. “We began with a lot of city centre cafés and their customers would be office workers getting a coffee on their way to work. We could see a spike in the morning and then at lunchtime. But when people started working from home, that changed. We were worried at the start, but the café industry did recover and a lot of new places opened up in the suburbs.

“The lockdown gave us time to look at strategy and to market online through social media. To keep some sort of cashflow going, we also added a voucher market feature into the app so people could buy gift vouchers from the businesses they wanted to support during lockdown.”

SQUID had also won funding from Enterprise Ireland’s Competitive Start Fund (CSF), which allowed them to really establish the business before Covid hit and develop the app. Most significantly, Katie applied for the 2019 call for Women Entrepreneurs, which included a business accelerator programme that proved to be invaluable for the ongoing sustainability of the business during Covid.

“I applied for the CSF before we launched and had a waiting list of customers. We put a lot of work into the application and the pitch, and we got it. Before that we were self-funded, so getting the funds from the CSF was our first opportunity to do some more product development – to move it from being just a prototype to becoming an established business.

“I was part of the call for women entrepreneurs, which included participation in the Innovate programme. Each week we got to attend different workshops and talks from entrepreneurs and marketing experts. I found this great as I was able to meet other entrepreneurs who might be a little further along their path than me; I learnt a lot from the workshops and the various talks too. It was also great to get that day just to take a step back from the everyday challenges and work on the overall strategy of the business – I learnt a lot from this programme which definitely helped with the success of the business so far through a challenging time.”

Visit this page for more information about the Competitive Start Fund.

Graduate Stories – Delivering results with internal communications and employee engagement

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Ennae O’Connor is in first year with the National Graduate Programme, working in the Organisational Development department.

During my Business and Management course in Maynooth, I completed an internship in Enterprise Ireland working in the High Potential Start-Ups division. This gave me real exposure into the type of work that Enterprise Ireland does – its culture, its people and so on – and so I knew from then that the graduate programme was something I was really interested in pursuing. I could see what an important role Enterprise Ireland has both within Ireland and overseas for Irish companies.

At Enterprise Ireland, our purpose statement is supporting Irish enterprises to start, innovate and succeed globally but the line that really resonates the most with me is “driving prosperity throughout Ireland”. Witnessing that impact first-hand is something that really inspired me during my internship and made me want to come back. 

“Enterprise Ireland is very fast-paced; you’re taking on real responsibilities and making a real impact for businesses.” Ennae O’Connor, National Graduate Programme participant.

 

Applying for the Graduate Programme

The application process can be intensive and I’d really recommend doing your homework. Look at the Enterprise Ireland corporate website, their social media and their values as a company. Be prepared ahead of each round, leverage any relevant experience you may have, no matter how big or small – education, internships, personal interests – anything that demonstrates your competencies. Reach out to the graduates on the current programme – I’m sure they’d be more than happy to help out and share any advice they have. Keep positive and confident throughout – it is a long process but it’s definitely worth it.

 

Every day is different!

My role is a little different from other graduate roles as it’s internally focused rather than client-facing. I absolutely adore it. My department is organisational development and I’m involved in internal communications and employee engagement. During my internship I was very client-focused, dealing with entrepreneurs and companies, but in my final year in college I became very interested in organisational development – and that translated into me getting involved in this area. It’s completely different from the client-facing roles, but I think the whole area of internal communications is really interesting.

The primary focus of my role is to keep employees connected and informed, creating a shared understanding of Enterprise Ireland’s purpose and values and keeping colleagues updated on company decisions, initiatives, programmes and executive messages. No two days are the same. We have over 40 international offices, as well as regional offices, so my day-to-day role is creating editorial content and executing wellbeing programs and campaigns to promote our company values.

As an example of the typical work I would do, yesterday I was putting together our virtual Pride Parade; today I was preparing a presentation to present to our Executive Director. There’s a lot of creative thinking. Over the last four weeks my main focus has been coordinating our global wellness challenge – similar to a step challenge, we had 44 teams competing to maximise their daily activity. I was giving weekly updates, the highly anticipated Leader Board reveal and sharing photos and videos of the teams getting active. The challenge coincided with our Pride Run, which saw our colleagues all across the world Rock the Rainbow and run, walk or jog 5k to celebrate inclusion and diversity of LGBTQ+ people and their families.

“It’s important to know that there are positions available for graduates in all sectors and all departments, from finance to marketing to our client-facing roles.”  says O’Connor.

There are so many opportunities to get involved and develop your business, project-management, relationship-building and networking skills. You’re not expected to know everything when you come in, but you need to be energetic and enthusiastic and passionate about delivering results.

 

To learn how Enterprise Ireland’s Graduate Programme can help you take the next step in your career visit National Programme /  International Programme.

Conor O’Donovan: Brexit disruption can be offset by Look for Local campaign

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Thousands of Irish companies have been availing of the opportunity to promote their business through the Look for Local campaign, which was launched in November by the Local Enterprise Offices

Backed by the Department of Enterprise, Trade and Employment in partnership with Enterprise Ireland and the local authorities, the Look for Local campaign aims to highlight small Irish businesses in every sector, asking individuals to support businesses in their locality when looking for goods or services.

“The campaign is tapping into the deep well of goodwill towards local businesses that exists in communities throughout Ireland,” says Conor O’Donovan, head of global marketing and corporate communications at Enterprise Ireland. “Local companies across a range of sectors are featured on the Local Enterprise LookforLocal website.

“It is supported by national and local advertising and marketing,” he adds.

“We want to try and encourage more consumers and businesses to look local if they require goods or services in the period ahead.”

He advises any small business which wants to be featured on the LookforLocal website to contact their local LEO to make arrangements.

“More than 4,200 businesses are benefiting from the campaign which has generated excellent traction online after just a few weeks.”

The campaign is of particular relevance to companies which have pivoted and changed their business models during the year in response to the disruption caused by the Covid-19 pandemic. Since January, the LEOs have approved over 11,000 Trading Online Vouchers for small Irish businesses, helping them to establish an online trading presence, or adapt it, under the National Digital Strategy.

In addition, 330 retailers have been approved for €11.8m in funding as part of the government’s Covid-19 Online Retail Scheme, which is administered by Enterprise Ireland. The scheme is targeted at retailers which are looking to enhance their current online presence.

An online presence is also increasingly important for exporters. “A trend we’ve been seeing is that international buyers will search online before making contact with a potential supplier. It’s essential that Irish exporters have strong online visibility.”

Many small local exporting companies will now have to contend with the additional disruption caused by Brexit.

A key Brexit mitigation strategy for exporting firms is market diversification and the Enterprise Ireland Irish Advantage website offers them a shop window to buyers across the world to aid them in its execution.

Exporters and potential exporters interested in being promoted on the Irish Advantage website should contact Enterprise Ireland or their Local Enterprise Office,” he said.

O’Donovan also advises businesses to visit Enterprise Ireland’s Prepare for Brexit website.

“The site is full of resources and information to help businesses get ready for Brexit.

“On January 1 the UK will become a third country as far as trade with the EU is concerned. The Brexit Readiness Checker will take you through all the essential steps to take, including customs,” he says.

“Revenue has estimated that customs declarations will increase from 1.2 million a year at present to 20 million a year. There has been a massive uptick in visits to the site in recent months. The message is getting through that being better-informed means being better prepared and that makes for better outcomes.”

Irish companies are, by and large, retaining their existing overseas contracts, but new contracts are down this year as a result of Covid-19.

“Exporters can’t jump on planes or trains or go to trade shows, so we are facilitating them to connect with new buyers online and encouraging them to avail of funding, advisory and innovation supports available from both Enterprise Ireland and LEOs”, he said.

And there is a high degree of awareness of those supports. “That was one of the very encouraging findings of some recent Department of Finance research,” says O’Donovan.

“Almost 90pc of SMEs are aware of Enterprise Ireland supports and initiatives while over 80pc are aware of what’s available from the LEOs. That awareness will be of critical importance as we strive to help Irish companies become more innovative, competitive and diversified in order to succeed and take advantage of the opportunities that will arise in the coming year and beyond.”

Evolve UK – Guide to Social Value in Procurement

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Social Value in UK Public Sector tenders

Social Value can be described as the additional value created in the delivery of a contract to a community, beyond the monetary value of the contract itself. While Social Value has been a feature of UK public procurement over the last decade, it has grown in prominence since introduction of the Procurement Policy Note (PPN) 06/20 in September 2020. This note requires councils to include a weighting of at least 10% to social value in tenders. Therefore, it is necessary for any Irish company dealing with the UK public sector to consider social value and how they can create value in a wider community.

This Enterprise Ireland publication has been developed in collaboration with Steve Oldbury, Founder & Director, Bidwriting.com to help companies to meet the social value requirements of UK tenders and improve their capability to win business with UK public sector bodies.

This guide includes:

  • The Principles of Social Value

  • Why Social Value is so important to society

  • The importance of Social Value when tendering for work

  • Assessing Social Value and the National TOMs Framework

  • Examples of Social Value Questions

  • Actions required by companies to respond effectively to Social Value

 

 

 

Why Export title

Export Journey: Step 1 – Why Export?

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Why Export title - image of woman packing a box

In a post-Covid world access to international markets, buyers, distributors and information is now at the fingertips of Irish SMEs thanks to increased digitalisation.

When looking towards new markets, it is important to consider the potential benefits of exporting for your company such as;

1. Diversification of market and reduced vunerability

A well considered diversification plan can minimise a dependency on the domestic market and the potential exposure to domestic downturn.

2. Increased revenue and scale

Exporting opens channels to exponentially expand the home market and identify new markets to take advantage of globally. A larger market base delivers economies of scale, enabling you to maximise your resources.

3. Improved profitability

Your ongoing domestic operation should cover business-as-usual fixed costs, either directly or via other types of business financing, which should, in turn, facilitate a faster growth in your export profits.

4. Best practice and knowledge

Accessing global markets will provide additional benefits to an exporter, aside from increased revenues such as new ways of doing business, increased awareness of global best practice, cultural and international competitiveness, that could also bring benefits to your market offering in Ireland.

5. Domestic competitiveness

Considering your company’s export potential will increase its resilience against potential competition within the domestic market.

 

 

Assess & validate title and two women at a computer screen

Export Journey: Step 2 – Assess & Validate

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Assess & Validate title and business people

Before beginning your export journey you must clearly identify your target market.  You may have preferences based on previous experience, understanding of the language or culture or simply some connection with the market, though a good starting point it’s not enough of a reason to export to this market.

Market Research will form the backbone of your export strategy as you begin to validate your plans.

The key elements for consideration are:

  • What makes your product unique
  • Who are your competitors in your selected research market?
  • Who are the buyers in that market?
  • How does your product compare in terms of pricing?
  • How is the product sold in that market?
  • What are the local regulations, certification for selling your product and can you currently comply?
  • A clear understanding as to why you have selected this market as the potential first market.

What supports are available?

If your business is at an early development stage the Local Enterprise Office has the supports to help you plan, start and grow

If you are are already supported by Enterprise Ireland you can contact your Development Advisor here.

The Market Research Centre provides access to world class research databases to help client companies make better, more informed business decisions. Contact the Market Research Centre here. 

Enterprise Ireland hosts events to assist companies’ growth plans – See our events calendar for details.

Our Market pages and Going Global guides provide expert insights and contact details for our overseas offices.

Learn how our Exporter Development team can support your growth.

 

 

 

Positioning Strategy title and businessman

Export Journey: Step 3 – Positioning Strategy

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Positioning Strategy title and businessman

Your positioning strategy should set out what you will do to achieve a favourable perception in your new export market.

Typically companies will try to achieve the same brand positioning regardless of the market. A coherent positioning strategy can be hugely advantageous, so it’s important when reviewing the export potential of your products/goods or services to consider the following:

1. Customer profiles

  • What is your current USP and will this translate to your new foreign export markets ?
  • Do you understand your domestic customer profile? E.g. age profile, socio-economic grouping etc.
  • Are there other significant demographic patterns to your product or service’s usage?
  • Have you considered the need to modify your product/service to facilitate differences in language, culture and business environments?
  • How do you plan to deliver your services to foreign markets ? In person, via a local partner or using digital resources?

2. Market Pricing and Value Propostion

  • Consideration whether any necessary changes to make your product/service more appealing to foreign markets and customers?
  • If you’re exporting services, what makes them unique within global markets?
  • Have you benchmarked your services in a global context? Would they be considered to be world-class and stand up to stronger scrutiny?
  • Have you considered the cost implications of servicing overseas markets? Including FX rates and fluctuations?
  • Does your product have a shelf life and will this be impacted by time in transit?
  • Will your packaging have the same impact in a foreign market or can it be easily modified to satisfy new demands?
  • Are there any climatic or geographic factors that could affect the uptake of your product or service in other markets?

3. Route to Market

  • Do you need special export licensing or documentation to export? i.e. technical or regulatory requirements localised to the market?
  • Are there considerations for the safe transportation of your product to global markets ? i.e. specialized containers or packaging materials?
  • Would transportation costs make competitive pricing a problem?
  • How efficiently does your target market process incoming shipments?

4. Capacity to support

  • In the event that your domestic/export demand increases beyond current projections, will you still be able to look after both markets?
  • Will you be able to serve both your existing domestic customers and any new foreign clients?

 

5. Further considerations

  • Do you require a local presence or representation?
  • Will your products/service require local professional support or can this be done digitally?
  • Will after-sales service be required ? Can it be easily sourced locally or do you have to provide it? Does you have the resources to provide it?
  • Are there legal / IP implications to consider when entering global markets?

Once your positioning strategy is in development, it’s time to consider how to develop your export strategy and access your target market.

 

Take the next step in the Export Journey

 

Scale title and background image of modern city

Export Journey: Step 6 – Scale

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Scale title and background image of modern cityYou are now successfully exporting to your first market. Now begin to build on this success and grow your exports.

You will now have built up a good relationship with the overseas market team and keeping up to date on buyer trends and external factors impacting these trends will enable you to stay competitive.

Factors to consider in your plans to scale exports:

1. Resources

Do you have the necessary resources both in terms of staff and finance to meet the demand of a new market?

2. Capacity

Do you have the manufacturing, packaging, logistics, linguistic capacity?

3. Environmental

Have you considered your carbon footprint; requirements of buyers?

4. Sustainable Growth

How will this impact your current financial standing? Will it strengthen or dilute your position in the market?

5. Adjacent Markets

Is there potential in the adjacent markets where buying patterns, pricing and local regulations may be similar?

 

How can Enterprise Ireland support your growth?

If you are are already supported by Enterprise Ireland you can contact your Development Advisor here.

The Market Research Centre provides access to world class research databases to help client companies make better, more informed business decisions. Contact the Market Research Centre here. 

Enterprise Ireland hosts events to assist companies’ growth plans – See our events calendar for details.

Our Market pages and Going Global guides provide expert insights and contact details for our overseas offices.

Learn how our Exporter Development team can support your growth.