Today, we seem to be bombarded constantly with news of the difficulties faced by business.  A stock market struggling, falling industrial investment, more bureaucracy, credit worries, high street spending in supposed decline - if we are not careful with all this scare mongering we may indeed talk ourselves into a double dip? Never underestimate the Law of Expectation.   

Is it truly a question of wither the economy is strong enough to recover more rapidly into growth; or is it a question of wither we are strong enough not to succumb to media pressures and focus our individual efforts on what we can affect in order to succeed in this current market, and position our business to flourish as the economy grows?

In business terms a challenging economy simply means that supply is out stripping demand, so success must be achieved through commitment, smarter working and an 'obsession' with customer service.

In difficult economic times, many businesses focus on cutting costs - an understandable and generally prudent thing to do, although they should always have been running lean even in the boom economy.  The danger is that you cut costs by cutting corners on customer service. This is exactly the wrong thing to do.  Right now, service matters more than ever.  Here's why:

• When people buy during an economic downturn they are extremely conscious of the "hard earned" money that they spend.  Customers want more attention, appreciation and recognition for their purchases, not less.
• Customers want to be sure they get maximum value for the money they choose to spend.  They want assistance, education, training, installation, modifications and support.  The basic product may remain the same, but they want more service.
• Customers want stronger guarantees that their purchase was "the right thing to do". In good times, a single bad purchase may be quickly overlooked or forgotten, but in tough times, every expenditure is scrutinized.  Provide the assurance your customers seek with generous service guarantees, regular follow-up and speedy follow-through on any queries or complaints.
• In tough times, people spend less time travelling, wining and dining, and more time carefully shopping for each and every purchase.  Giving good service enhances the customer's shopping experience, and boosts your own business' image.
• When times are good, people make decisions quickly and sometimes don't notice your efforts.  In tighter times, people move more cautiously, and notice every extra effort that you make.
• When money is tight, many people experience a sense of lower self-esteem.  When they get good service from your business it boosts their self-image.  And when they feel good about themselves, they feel good about you.  And when they feel good about you, they buy.
• In tough times, people talk more with each other about saving money and getting good value.  "Positive word of mouth" is a powerful force at any time.  In difficult times, even more ears will be listening.  Be sure the words spoken about your business are good ones.

 So giving great service in tough times makes good business sense.  But how do you actually achieve it? 

 Click to link to my Customer Service Principles webpage where I will share with you eight proven principles you can use today.

Finally, remember that service is the currency that keeps our economy moving.  "I serve you in one business, you serve me in another."  When either of us improves, the economy gets a little better.  When both of us improve, people are sure to take notice.  When everyone improves, the whole economy grows stronger and there is no longer any reason for the depressing headlines to which we've become so accustomed.  So, let's all start looking after our customers and let the economy look after itself.