Issue #71 -- February 10, 2003
Right now, I am heavy into business development work for a client of mine, talk about a challenge. It seems like everyone has cut their budgets to the bone, but we are making progress. How are your relationship tasks coming along?
The lesson I bring to you today looks at the three key areas where you can improve customer retention in a difficult market. In "9 Ways to Improve Customer Retention in a Tight Marketplace," you will learn strategies to improving sales flow, focusing your best customers, and enhancing your ability to serve their needs. If budgets are tight in your industry, then these strategies can keep customers sending money your way.
Last week I shared with you management strategies to reduce costs, what results are you seeing. Drop me a quick note sometime; I would be interested in hearing about your success. Next week I share with you tips on leveraging partnerships to improve sales.
If there is anything I can do for you, please let me know.
Strategic Relations Consultant, Author & Speaker
By Justin Hitt, Strategic Relations Consultant, https://iunctura.com/
When a cloud of economic slowdown looks over your business or industry, what are you prepared to do to retain customers? Less informed executives often hold tight for a wild ride without taking any clear action, when there is something you can do. You can improve customer retention in a tight economy by improving sale flow, focusing on your best customers, and enhancing your ability to serve their needs.
Here are a series of strategies you can put into action today:
During tight markets, customers are going to be concerned about price, enticing offers from your competition, and will judge your business by its perceived stability. It is critical you stand strong and stay in front of customers by solving real problems. You will retain accounts when you are proactive instead of reactionary in light of the economic landscape.
Often your customers are just as concerned as you are about a tight marketplace. The best test of your relationship with them is adversity, and how you handle it. Improving sales flow, focusing on your best customers, and enhancing your ability to serve customers needs demonstrates strength. How will you use that strength to retain (and grow) your customers?
© 2003 Justin Hitt, All rights reserved.
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Justin Hitt is a strategic relations consultant and the author of "How to Get more Profits by Cultivating Your Best Customers". Clients include business owners and executives of medium to large companies worldwide. He can be reached at https://iunctura.com/
Can you afford NOT to take advantage of this free consultation by email? Ask your strategic relations questions; send questions to questions-strategic-relations
>> Big "thank you"to those who faxed in their business card for a complementary copy of "How to Cultivate Your 'Top Ten Percent' Customers for Greater Profits" If you missed out, well, better luck next time. The early bird saves $47 dollars.
>> Quick Survey: What is the biggest relationship challenge you face as an executive or manager in business? Reply to this message with your answer, and I will post a summary of results here next week. Help fellow readers, all responses are confidential.
>> Do you have an opinion on effective ways to listen to employees? A good friend Bob Abbott is putting together a magazine article on the executive listening skills, and needs feedback from real executive on the front line. Mail your tips and opinions to mailto:email@example.com
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© 2002-2003 Justin Hitt, All rights reserved. This is a paid subscription newsletter. Sharing this newsletter in any form is a violation of your user agreement. Address all written correspondence to: Strategic Relations Journal c/oCenter for Strategic Relations, Dept HIP,PO Box 3123, Martinsville, VA 24115. https://iunctura.com/
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