There is a lot of talk about a recession and its impact on businesses large and small. While things like the economy are out of businesses control, the good new is that there are steps companies of any size can take to ensure that their customers remain loyal despite economic fears. To that end, consultants from Peppers & Rogers along with Jason Mittelstaedt, CMO of RightNow Technologies have outlined a list of top ten tips for companies to consider in an uncertain economy.

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Ten Tips & Techniques for an Uncertain Economy

1. Focus upon cost savings rather than revenue generation when implementing a customer initiativeand then use those savings to fund future enhancements.

2. Dont discontinue an existing customer initiative in an uncertain economyif necessary, reduce the scope of (or postpone pending improvements to) the initiative until the economy improves.

3. Dont wait for customer relationships to weaken or breakyou cant afford the loss of revenue or of goodwill in an uncertain economy, so proactively take steps to manage those relationships well.

4. Customers make purchase decisions more deliberately in an uncertain economy, so give them the service and the information they need to choose your company over the competition.

5. Customers take longer to make purchase decisions when times are tough, so bridge the gap with a sequence of individually customised communications that provide concrete information on the specific product features and benefits that fulfill their needs.

6. Spend your budget wisely, by shifting dollars to individualised service initiatives and communications targeted to those customers who are most valuable or who are most likely to grow in value.

7. Clearly communicate value in each customer message empathetically explaining how and why your

Product or service is aligned with the customers concerns in a trying economic environment.

8. Dont overwhelm customers with surveys, and when a customer does respond, let them know that their feedback has been receivedand, most importantly, that it is sincerely appreciated.

9. Invest in innovationfueled in part by customer listening during challenging economic times, because it can pay handsome dividends.

10. The memories of customers will extend well beyond the end of an uncertain economythey wont forget (or forgive) opportunistic actions or other violations of trust, but they will remember excellent customer service.