What if…your executive coach helped you to avoid a self-inflicted second recession?

Has your company cut a few too many corners during the recession?

How happy are your customers right now?

How often are you monitoring customer satisfaction?

If your business has cut so many corners that it can’t compete in customer service – your problem isn’t the economy – it’s the swinging cuts you’ve made.

Yes, it’s been tough for everyone since September 2008 and, yes, it’s difficult to keep pushing forward in tough times.

Since the recession began, you, along with the MDs and CEOs I add value to as a business strategist and coach, have probably dealt with lots of different service providers, contractors, suppliers, retail stores and the like.

In doing so, you’ve maybe encountered a pattern of bad customer experience which has disappointed, frustrated and surprised you in a climate where you would expect providers to go the extra mile to secure scarce revenues.

I’ve become anecdotally convinced that many companies have cut so many corners in the recession that they’ve seriously eroded their ability to deliver customer satisfaction.

Instead of worrying about forecasts of a “double-dip recession”, they should be concerned about the more-likely probability of a “self-inflicted second recession” harming their business.

How do you know if your customers are satisfied with your services and products? Do you rigorously and consistently monitor customer satisfaction or do you track product quality or service levels using methods that are convenient for you to measure, but which don’t accurately reflect your customer’s actual experience?

Even if you think your operation is functioning at peak effectiveness, do you know how your front-line performance compares to that of your key competitor? You may have consciously or unconsciously relaxed standards over the last 18 months to reduce costs and boost your bottom line. If you have, an honest side-by-side comparison of your performance versus your key competitor’s may provide a powerful wake up call.

Alternatively, what if you discover that you’ve actually gained a step or two on your competitor? Pat yourself on the back, then begin going after customers of your rival that you’ve always coveted. Now might be just the time to “double up” in your customer-satisfaction efforts and invest greater resources, not fewer, in order to take some market share. Think about it: if your recent experiences are typical, the same customer who’s getting poor service from your competitor is probably receiving a below par service from a lot of other vendors right now -and getting pretty irritated.

In contrast, customers appreciate a company that takes care of them when times are tough -especially when no one else seems to be doing so. Now could be a perfect time to strike. Remember: research shows that market share gained during a recession is twice as likely to continue for the long term as that earned during an economic expansion.

Now is the time to take a fresh look at your current product quality. Get out there and put a little spark into your front-line customer service people. Take better care of your customers. Do it right, and you’ll not only avoid a “self-inflicted second recession,” you might even become so bullish that you could spearhead a “self-initiated bull market.”

To discuss this with me in more detail, you can email me at  Richard.bosworth@whatifspecialist.com, follow @richardwhatif on Twitter or find me under Richard Bosworth on LinkedIn.