Don’t Mess with My Cookie!

I was recently enjoying a delicious lunch at Young’s Café restaurant. While there I read an article that declared that the recession is a figment of our imaginations. The author suggested that we simply go about our business as usual and the world’s economic downturn would have no relevance to our business success or our ability turn a profit. It was all very Zen.

I find it really hard to get my mind around the idea that everything is nothing. The recession is not mystical smoke and glass and it is not going away anytime soon. Businesses have made cuts and they will continue to do so.

But what should we be doing to protect and build business in a down economy? Here are just a few suggestions:

Understand how the recession is impacting your clients and customers
If you are planning for the coming months without considering your customers, you are headed for disaster.  Know what holds value for your customers and tailor your offerings and pricing to meet those essential needs. This is not the time to raise prices unless you are significantly underpriced or you are substantially improving your offerings.

Provide world-class customer service
Quality customer service counts now more than ever. Show sincere appreciation to your customers and work to retain their loyalty. Buffer them as much as possible from the pains your organization is experiencing. For example, don’t assume your customers will accept that response time is longer because employees are on furlough or layoffs have taken place. Maintain impeccable service standards.

Avoid impact on customers
When deciding what additional cuts to make ask, “How will this affect my customers?” It is especially risky to take away benefits or services that were once considered standard. It is also hazardous to add new services if you are unsure whether you will be able to offer them into the future. Any negative change directs customers to take their business elsewhere. Yet I know of businesses that have recently increased prices, eliminated live customer service reps and discontinued offerings that were once standard. And they did these things despite the fact that they were already struggling to remain profitable!

I finished my lunch and the Zen article. The waiter brought my bill and a fortune cookie. I have come to expect the cookie. Confucius says, “Keep the customer happy and you will be happy, too.”

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