Should we change our customer loyalty strategy during a recession?
How should our approach to customer loyalty change during a recession? Can you offer any advice or tips we can apply immediately?

    Requires Free Membership to View

    Login

    When you register, you'll begin receiving targeted emails from my team of award-winning editorial writers on the latest customer relationship management (CRM)and call center technology issues today. Our goal is to keep you informed on the hottest issues facing this fast-changing industry.

    Hannah Smalltree, Editorial Director

    By submitting your registration information to SearchCRM.com you agree to receive email communications from TechTarget and TechTarget partners. We encourage you to read our Privacy Policy which contains important disclosures about how we collect and use your registration and other information. If you reside outside of the United States, by submitting this registration information you consent to having your personal data transferred to and processed in the United States. Your use of SearchCRM.com is governed by our Terms of Use. You may contact us at webmaster@TechTarget.com.

If anything, an economic slowdown should be a signal for smart companies to get more aggressive in building loyal customers. Why? One good reason is that most companies will cut back their investment in sustaining building customer value. A fragment of ancient Asian wisdom says that "in confusion there is opportunity," so becoming more focused on building customer trust during challenging times will reap long-term rewards. Companies need to better understand what rational and emotional value components customers consider priorities, and over-deliver on them. While competitors are standing pat or retrenching on such initiatives, the more enlightened companies should prosper, immediately and over the long-term.

Editor's note: Get tips for keeping customer loyal in a down economy.

This was first published in December 2008