Looking Out for Client Interests When Customers Stop Spending

As a web service provider, I share a responsibility for the well-being of many of my clients’ businesses. When recession hits, I can either schlump along hoping that things will get better, or I can learn enough to help my clients pull through. By helping them, I better my business along with theirs.

In order for that effort to be successful, I have to learn some things:

  • I have to be familiar enough with my clients’ target markets to understand how they are likely to react in regards to the product or service that my clients sell.
  • I have to learn strategies for cost effective optimization, so they can be implemented when need is great, but money is tight.
  • I have to think creatively and logically, to help them find product or service adaptations to help my clients successfully adjust their business to keep it healthy. Generally, if I understand their business well, I can help them with this.
  • I need to help them devise ways to alter their marketing to reflect the changes, or to change their target market enough to help compensate for loss of revenue from their current market.

Mostly, it is a matter of learning how customers think in relation to various products or services when money is tight, and then thinking of ways to help a business compensate.

It is also important that I keep in communication with my clients, offer help when needed, and help them spot trends early that may indicate that a recession is affecting their business. Sometimes they will know something is off, but a good stats analysis can help them define where the problem is – whether people have stopped visiting their site, or whether they are still visiting, but just not buying.

To a certain degree, whether my clients survive in a poor economy, is partly due to my efforts.

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