Recession proof your business - keep the customers happy

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Recession proof your business - keep the customers happy

Search: Business credit crunch

Unless you've been living under a rock for the last 6 months you'll be acutely aware of the problems in the global financial markets. If you are unlucky enough to be seeking funding right now you'll no doubt have experienced the problems first hand as cash becomes harder and harder to find.

So what can you do to ensure that your business weathers the financial storm? You can make sure that the customers you already have think you're wonderful.

Here are 5 tips on how to make sure you capitalise on your most important asset.

Empower your staff

There is nothing more irritating than phoning up a company and being told "the person you need to speak to isn't here today", or "sorry that's not my area". You need to empower yours staff so that they know that whatever the query they need to get it handled as quickly as possible. If the person the customer needs to speak to isn't there then take all the details and have someone else who can help call the customer back. Bend over backwards to make sure the customer feels listened to, assisted and impressed by your company's professionalism.

Handle complaints swiftly

A customer complain isn't the death knell of the relationship - IF you handle it correctly. And that means quickly, efficiently and apologetically - even if you don't think it's valid! According to venture capitalist Colin Barrow author of Starting a Business for Dummies an unhappy customer will tell between 8 and 15 other people about their bad experience. Even based on that statistic it's always best to accept responsibility and fix the problem. If you do this well you may be surprised to find that customer is even more loyal to you and your business in the future.

If you don't handle complaints seriously and quickly then not only do you have a potentially damaging influence in the market place and this can be especially devastating because of internet technology and blogs etc but you also make it easy for your competition to steal that customer.

Create a customer centric culture

Often in business we are so focused on bringing in new business that we forget about the old business. Your people need to know that you are committed to maintaining long term business relationships. Find ways to reward your staff for fostering customer care and loyalty in your customers so that all the focus is not only on finding new business. Make sure you have the right people on the front line of your business – people that are helpful by nature and willing to go the extra mile to make sure your customers are happy.

Regular contact

With the internet and email technology there really is no excuse not to keep in touch with your customers. There is very little cost involved in generating an email bulletin of special offers or a monthly newsletter. You have to stay in the mind of your customer so that when the time comes that they need something you sell your newsletter or email could be just the thing to remind them of your existence and gain an extra sale. You need to get their permission to contact them though.

Ask for referrals

There are departments in large businesses dedicated to complaints and when things go wrong but what about when things go right? If you make sure your customers are happy time and time again then ask them to refer you to other people they know who may also benefit from your services. If you leave them to their own devices they might tell one other person if you're lucky but if asked most people will happily provide one of two potential contacts. There are very successful businesses that grow purely through word of mouth and dedicated referral programs. Find innovative and meaningful ways to say "thank you" for referrals that turn into business.

Also ask for testimonials and put them on your website or marketing material. Testimonials are a very powerful tool to persuade others to try your offering.