Keep Customer Communication Strong
- Sunday, July 10, 2011
In an economic downturn, companies tighten their belts. Typically they pull their advertising and marketing budget. The truth is that by doing this and reducing communication, you only affect short term sales, and sacrifice your long term goal of a strong link with your customer base.
There are several strategies for staying connected. First, consider that media revenue is also deflated in times of economic stress. The cost of advertising in some markets gives you the opportunity to stretch your advertising dollars. Perhaps its time to increase your visibility while your competitors are lessening theirs.
Second, be mindful that consumer behavior changes during a recession. Major purchases are delayed, and cheaper alternatives are sought. Not all consumers stop spending, they simply alter their habits to better fit their financial situation. Keep your customers attracted to your business by letting them know you are willing to be flexible to meet their needs, even in tougher spending times. If you can offer a lower cost solution to their needs they won’t have to go elsewhere and you won’t have to risk permanently losing them to a competitor.
Third, depending on the type of business that you own, you might consider offering free seminars or give-away events. The idea is to connect and reconnect with your customers at every opportunity by providing something that draws them back to you. This will keep them loyal and help to cultivate a stronger relationship in the future.
Deb Davidson
Associate, E. Sue Huff & AssociatesLabels: advertising, customer communication, economic downturn
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