Books and Workshops to build and sustain customer focus and service excellence throughout your entire organization.


Customer Focus in a Slow Economy

By Ray Miller

“Nobody wants to lose customers but you know as well as I that when the economy gets tough, many organizations go into reactive mode. ”

Ray Miller is Managing Director of The Training Bank and author of That’s Customer Focus! and The Customer Focus Companion.


The Training Bank is a full service training and development firm which specializes in fully customizable Leadership, Customer Focus, Service Excellence, Management and Supervisory Development training.


Enhance your Customers’ Experience and sharpen your Customer Focus to differentiate your organization and build long-term loyalty and profitability.


If you need help, check out our book, That’s Customer Focus!: The Overworked and Under-appreciated Managers Guide to Creating a Customer-Focused Organization.


Everything you need know and do to create and implement your strategy is covered in this great book. 


If you would like a PDF version of this article, please click here and we will send you one.

Free Customer Focus and Customer Service Article

During an economic downturn most customers will be looking to increase value for their money. They will try to make their hard earned cash go further and you can be sure that they will be more critical when making buying decisions.

 

With less disposable income, customers will be less forgiving of a mediocre or poor service experience. And don’t forget that when it comes to service, the vast majority, 90 to 96%, will not complain and most will simply go elsewhere. You can bet that they will want to deal with organizations that demonstrate that they want and appreciate their business.

 

You can also be guaranteed that your customers will be strongly influenced by the commentary of their friends, acquaintances, family and colleagues when it comes to   recommendations for products or services and providers.

 

As I mentioned earlier, when economic conditions become more demanding, far too many organizations focus on cost cutting and acquiring new customers which invariably puts the relationships with their existing customers at risk.

 

Quite often training budgets are the first to get cut. This includes all important training on things like Customer Service and Leadership.

 

Process improvement plans get put on hold often including process improvements that were intended to enhance the customer experience.

 

Even though it is five times more expensive to get new customers than it is to keep existing already profitable customers, many organizations bolster their marketing efforts trying to pull more customers in the front door, at the same time virtually ignoring their existing customers who simply walk out the backdoor looking for someone who wants and appreciates their business and proves it through their actions.

 

The retention of existing customers is all the more important during difficult economic conditions. Research proves that existing customers are more profitable and improvements in your operating expenses and resulting bottom line can be achieved through maintaining a high level of customer focus. Just to remind you, don’t forget a five percent increase in customer loyalty can contribute from 25% to 125% directly to your bottom line.

 

Remember that your customers always have the choice of buying from you or your competition. When times are tough, that choice becomes even more important.

 

Implementing a customer focus strategy will create valuable and long-lasting relationships with your customers that will provide a secure and growing revenue stream.


Focusing on getting the customer experience right is critical. Making sure that your customers choose you over your competition is essential. If you get it right when times are tough you will certainly reap the benefits and rewards of unleashing the power of customer focus as conditions improve.


So this time, why not dare to be different. Why not unleash the potential of customer focus, while everyone else has their eye off the ball.


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