Beat the recession

Latest news from Om2 marketing

02/01/2009

 To beat the recession, local businesses should follow the findings of a recent survey by the Chartered Management Institute (CMI) and focus on improving value and service to their present customers, rather than simply cut costs. This is the strong advice from South Bucks marketing consultancy, Owen Morris Partnership, which has put together a simple, 3-point support service to assist firms in boosting their customer value and service in these difficult times. The CMI survey, which involved a poll of 1,118 senior executives around the UK, found that 68 per cent of managers believe that ‘organisations should focus on product innovation and service’ to stay afloat in the downturn, compared to only 35 per cent agreeing that the  ‘best response to recession is to cut costs’. “ This is a clear message to businesses, says Owen Morris’ senior partner, Mike Owen, “ that the way to beat the recession is not to use the knee-jerk reaction of simply cutting costs, but rather to invest more time and effort in enhancing their products and services and boosting their level of service and relationships with current customers.” This is what good marketing is all about.  It is critical area of business to get right in a downturn. “ Owen Morris’ 3-point ‘customer value development’ service comprises practical advice and assistance in the following areas:     i)  surveying a firm’s customer base to identify what customers think are its strengths and weaknesses;    ii)  evaluating what the firm offers compared to other competitors and trends/opportunities in the rest of the market;   and   iii)  designing specific ways to improve what the firm offers and how it relates to customers. Any business wanting further information about the CMI research or Owen Morris’ service can contact Owen Morris on 01494 761811 or email:  mpo@owenmorrisconsulting.com.