In this economy, most businesses are facing tough times. Revenue is down, budgets are being cut, and jobs are at risk. Many of our customers question the wisdom of engaging their customers at this time. They fear the worst and think talking to their customers could damage their relationship. So many businesses are ducking for cover and waiting for better times. Here is our view on how to manage your relationships during a down economy.
Don’t be a “fair weather friend” to your customers! Let your competitors cower and run for cover while you stand side-by-side with your customers. True friends, like true business partners, listen to you and stand by you in tough times. Here are three key reasons why now is the BEST TIME to reach out to your customer base, listen, and develop creative solutions for them.
1. Listen now…when your customers will really open up. Many customers tend to open up when times are tough. They need someone to tell their problems to. Someone who will listen. Someone who can help them. Be proactive! Reach out and engage your customers NOW and they may reveal information they would not normally share.
2. Hang on to everything you’ve got. Our first priority in tough times is to make sure we don’t lose the customers we’ve already got. Customers are facing pressures that put even the best relationships at risk. Take the pulse of your customers now so you can identify and manage any potential risks.
3. Stand by them now and they will remember you later. In today’s economy, most businesses don’t have time to listen to their customers. Taking the time to connect with them now shows your commitment and will set you apart.
Smart leaders will identify ways to make the best of these challenging times by protecting the business they have and finding ways to strengthen their customer relationships while the competitors are hiding in fear.
EVP, Client Opinions