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How to lose a customer forever
Source: BI-ME , Author: BI-ME staff
Posted: Wed June 17, 2009 5:43 pm
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INTERNATIONAL. Now more than ever, maintaining a quality customer experience is crucial to the survival of any business.  According to business management specialist, Bob Prosen, author of 'Kiss Theory Goodbye, Five Proven Ways to get Extraordinary Results in Any Company', getting the right message across to your customer will make or break your business during these hard times.
 
“It’s essential to cut back during a recession, but the moment you sacrifice your customer’s buying experience your business is doomed,” says Bob Prosen, CEO of the Prosen Center for Business Advancement.

“Quality of service and product should be elevated during a recession, knowing where to cut costs and where to improve service will promise your company's success.”
 
Keep your word
 
Keep your doors open. It all comes down to customer loyalty, with more competition and less buyers, quality of experience is key. Continue providing your base with reliable service, quality products, and top notch customer service. Stay true to your company's promises and don't increase prices because you can’t make your bottom line. 

Innovate to give more value and more free bonuses on things that don’t cost you much. Business management expert, Bob Prosen adds: “Don't cancel your regular sales deals, as this will turn loyal customers off and they’ll go elsewhere. Keeping your customers happy by staying in tune with their needs will build loyalty and allow you to scoop up more market share in the process.”
 
Don’t compromise on the customer's experience
 
Put your client first. Don't skimp on things that could sour their buying experience. Quality of goods must remain high, don’t switch suppliers just because they can do it cheaper.  Remember you usually get what you pay for and your customers will notice. Instead, talk to your current supplier and see if what they can do to help on price. Most likely, they don’t want to lose your business and they’ll offer you a better deal. 
 
“Don’t fire your higher paid employees just to replace them with cheaper, untrained labour. Now more than ever, customers want a high quality shopping experience with impeccable service and enthusiastic sales people. Your customers will respect you for your level of integrity and dedication to their needs, producing loyalty for years to come,” explains Prosen.  
 
Empathise with the customer
 
“Show your clientele that you understand what their going through. Clients want to know that you recognise we are all under pressure right now, not just your business. If you need to change your business model then be sure your customers understand your motives.  Show them that you want to continue to be there for them now, and when good times return,” notes Prosen.

“Everyone is familiar with hard times, and we admire the ones that take the steps to get through it so they can be there for us tomorrow. It’s critical to cut costs during a recession and your customers understand that. Finding ways to cut bloated expenses rather than vital ones is the key to getting through this.”
 
During tough economic times, it’s essential to get to the customer base with the right message. This is your chance, as a business, to show your humanity and develop closeness with your customer. Let them know that you understand their hardship.   
 
"This is the best time to solidify your competitive edge. While others may be cutting back on marketing and publicity to lower costs, you can charge ahead creating confidence and certainty for your brand" says Annie Jennings, CEO of the National Publicity Firm, Annie Jennings PR. Your image is what will keep you in business, now and in the future. 
 
Bob Prosen is the world's leading authority on The Five Attributes of Highly Profitable Companies and is an internationally recognised business expert who has helped such companies as AT&T Global Information Solutions/NCR, Hitachi Data Systems, Sabre, Sprint, and Data Return Corporation achieve unprecedented financial and operational success.
 
Bob Prosen earned his MBA from Georgia State University and holds post-graduate certifications from MIT, Duke University and The Wharton School. He has received numerous awards for professional excellence and serves on the University of North Texas School of Marketing Advisory Board, and is listed in the International Who's Who of Entrepreneurs.

See also www.bobprosen.com

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: February 9, 2010
UAE. Location and quality are driving apartment prices; while average prices decreased, select communities, including Palm Jumeirah and Downtown Burj Dubai, experienced slight increases according to Landmark Advisory's latest quarterly report.
date:Posted: February 8, 2010
INTERNATIONAL. Trying to achieve financial goals by pouring all of one's assets into emerging markets today, telecommunications tomorrow, and Japanese small-cap stocks next week is not a guarantee for achieving a sound financial plan.
date:Posted: February 8, 2010
INTERNATIONAL. The latest survey shows 46% of respondents expect their business travel to increase, marking a rise by 22 points compared with figures of the same period in 2009.
UAE. Location and quality are driving apartment prices; while average prices decreased, select communities, including Palm Jumeirah and Downtown Burj Dubai, experienced slight increases according to Landmark Advisory's latest quarterly report.