Ten Ways to Beat the Recession for Business

How does a business beat the recession? How does a business outcompete and outmarket the competition? How does a business survive and beat the recession?

Here's a great column by Shaun Smith on how a business can beat the recession...

Here are Shaun's Top Ten Tips for a business to beat this depression:

Shaun states the age-old customer service mantra: "It has been estimated that reducing your customer churn by just 2% has the same impact as reducing your costs by 10% and in tough trading conditions it is even more important."

Shaun asks us to "look out for these ten pitfalls that trip organizations up when the going gets tough.

1. Believing that delivering your brand does not require the active and continuing involvement of leadership. There is a tendency for organizations to hunker down and this leads to the leaders becoming internally focused. It is even more important for leaders to walk the talk to keep their people motivated and their customers coming back.

2. Delegating responsibility for the customer experience to marketing or HR or Operations. The executive team have to own the customer experience and you cannot afford competing agendas and politics to determine priorities.

3. Segmenting customers by demographics or account size rather than profitability. In tough trading conditions when customers are scarce you want your best customers spending more with you rather than your competitors so focus on real customers not some arcane marketing view of the world."

Go and read Shaun's column for all the ten tips and tricks to beat the recession.

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