Focus on the Customer and Win in the Downturn December 12, 2008
Posted by OnProcess Technology in Customer Experience Management, Customer Understanding Research, OnProcess.Tags: Customer Experience, customer experience assessment, Customer Experience Management, downturn strategies, focus on the customer, strategies for managing in economic downturn
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It seems obvious enough, but when things get tight and cuts loom, sometimes it’s important to take a moment and remember what you can’t afford to forget.
Here’s a good article from InsideCRM.com:
Every economic downturn in history has inevitably been followed by an upturn, so embracing a good customer strategy during a slump will greatly increase your chances of still being in business when the recovery comes around. Ultimately, a recession can actually help differentiate companies and their service propositions. It is therefore worth making the case that cutting into customer-service spend is not necessarily the right option.
More at: http://www.insidecrm.com/features/focus-customer-win-downturn-111808/
Critical to this approach is knowing what areas of your customer experience are delivering value and which are hurting you. Need more visibility into customer-service related issues at this critical juncture? You may want to talk to us about our proactive customer experience management programs.
–sk
Asset Retrieval is Critical in This Difficult Economy October 15, 2008
Posted by OnProcess Technology in Asset Recovery, Asset Retrieval, OnProcess.Tags: Asset Recovery, asset retrieval, customer satisfaction, finding capital, reducing capital expenditure, Steve Kirstein, strategies for managing in economic downturn
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With lending and borrowing tighter, if in fact not available, companies will have to find ways to limit Capital Expenditures without hurting their operations or customer relations. As self-serving as it may be for us to mention, a well-run Asset Retrieval program can make a huge impact on operating expenses and reduction of Cap Ex.
If you can find all of your inventory in the field, and get it back faster, you can dramatically reduce expenditures on replacement goods. Returned items can be repaired, refurbished or otherwise returned to the field more quickly, keeping new equipment inventory needs down. A relatively small percentage improvement in return velocity and return rates can leverage a very large improvement in profitability.
Combining all this increased awareness and control of your warranty and end-of-life equipment with a proactive customer outreach will also mean you can maintain and even improve customer satisfaction, while reaping these very tangible financial benefits.
So, while you’re fervently hunkering down, contemplating cuts in Marketing, Operations, Personnel and so on, which will all impact sales and customer satisfaction, consider reviewing your Asset Retrieval operation as an important alternative that can bring financial improvement AND increased customer satisfaction.
–sk
