As the wind of economic cycles blows hard, some businesses try to contain costs by cutting corners on customer service. This is exactly the wrong thing to do, because service matters now more than ever. Here's why:
Wiser spending. When people buy during an economic downturn they are extremely conscious of the hard-earned money they spend. Customers want more attention, more appreciation and more recognition when making their purchases with you, not less.
More bang for the buck. Customers want to be sure they get maximum value for the money they spend. The basic product may remain the same, but they want more service.
A guarantee. Customers want firmer guarantees that their purchase was the right thing to do. In good times, a single bad purchase can be quickly overlooked or forgotten; but in tough times, every expenditure is scrutinized. Provide the assurance your customers seek with generous service guarantees, regular follow-up and speedy follow-through on all queries and complaints.
Positive word-of-mouth. During a down economy, people talk more with each other about saving money and getting a good value. Positive word-of-mouth is a powerful force at any time. In difficult times, even more ears will be listening. Be sure the words spoken about your business are good ones!