Posted by: Chris | October 2, 2008

Services Marketing During an Economic Downturn

(I promised myself that I wasn’t going to jump on the “blog about the economy” bandwagon, but after reading the post Wall Street, David Blaine, and You by Jeremy Nedelka at The 1 to 1 Blog, I was simply inspired.)

If you haven’t been providing explicitly branded service yet, start now while the economy is suffering.

One benefit to building a strong branded service culture within your organization is that doing so costs your company very little when compared to other marketing initiatives such as adding new products, line extensions, massive promotions, etc. Save your company money during these down times by investing in customer service improvement, customer connecting, employee empowerment, services blueprinting and analysis, garnering feedback, etc. These moves cost little to nothing!

Another benefit to working on service marketing initiatives during a rumored recession is that customers and clients who are feeling the financial pinch right now are looking for value-added, differentiated service; that is, they are looking for a service provider who will provide a robust customer experience without charging extra for it. By providing such service in a way that exemplifies or complements your company’s brand, you might even end up earning yourself some new customer evangelists.

Has your company modified any aspect of service provision as a result of the recent economic duress? If so, how?

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