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Posts Tagged ‘Economic Downturn’

For most, now would not seem the time, taking into account the current economic climate, for new companies to be presenting themselves for business. Thousands of people are losing their jobs from long established enterprises, many of which have been forced to let employees go due to lower business rates, and in some cases such establishments have been forced to shut down completely. End of story. Another formidable thought is the fact that even the majority of Irish banks have had to seek bail outs from the government in order to keep afloat.

Not withstanding the seriousness of the current economic crisis, the situation does offer some unique opportunities to self-employed people and owners of small businesses.

When business is booming, many people say they are too busy to get involved in marketing activities such as research and planning.

Now that the economic downturn has slowed the overall pace of business activity, owners have the opportunity to undertake some of these delayed marketing activities.

Satisfied Clients Help Businesses Grow

Although helpful at any point, evaluating client satisfaction is timely market research that will yield many benefits…now and in the future.

Satisfied clients are the foundation of any successful business. Knowing how well you have satisfied your clients will help you build on this achievement in promoting your business and attracting new clients.

If however, you have not succeeded in satisfying some clients, you can take remedial action to minimize consequences for your business and prevent similar situations from occurring in the future.

But the benefits are not just related to client service issues.

A client satisfaction survey allows you the opportunity to reconnect with clients and enhance your existing relationship with them.

And by enhancing your existing relationship, you position yourself to generate more new business as a result of clients hiring you again and referring others to you.

This new business could arise now…or later after the economy improves. Provided you keep in touch with clients during the bad times you can rest assured that they will generate new business for you during the the good times.

Measuring Clients’ Satisfaction

The most effective way to measure client satisfaction is to survey your clients by means of a written questionnaire.

You can deliver the questionnaire in person, by regular mail, electronically or some combination of these formats. Each approach has its own advantages and disadvantages, depending on you and your clients.

Regardless of how you deliver the questionnaire, include an explanation of why you seek your clients’ opinions and instructions for completing and returning the completed questionnaire.

The questionnaire itself could include questions about…how the client learned about you…your responsiveness to their issues and concerns… overall level of satisfaction and so on.

Evaluating The Results

While it is reassuring to find out how well you have satisfied your clients, the survey also points out how you can improve your services.

You might for example discover that individual clients are unhappy about one issue or another.

Take the time to understand your client’s concerns and resolve any issues as effectively as you can. It’s also possible that several clients raise similar concerns. Obviously you will want to address these concerns before they jeopardize your business.

Ideally your survey will help you learn more about how you do or can serve your clients.

But even it if doesn’t, you can take comfort in the fact that your clients are most likely satisfied with your service. If they were unhappy, they would probably tell you…perhaps anonymously.

Regardless of whether or not your survey stimulates any improvements, by reporting to your clients…and others..about the results, you have another opportunity to connect and keep in touch with these people.

Remember that keeping in touch with clients and contacts enhances existing relationships….which in turn helps generate repeat and referral business.

Is that not a great value-added benefit of monitoring client satisfaction?