Existing Customers are Your Key to Recovery – Start Now While There is Time

A Note From Our CEO

These are uncertain times.  Even still, one thing is certain. Things will stabilize, and we will get through this.

Of course, it’s important and appropriate that we spend our time managing through the impacts of COVID-19, but we shouldn’t lose sight of the future and what we can do today to emerge from this crisis tomorrow. Our businesses must be prepared to respond to the needs of our customers when things improve.

We frequently hear from our customers and prospects that they want to do more to understand their customers and to engage them in meaningful ways.  Most times, their teams are also dealing with several other company priorities, including upgrading and/or changing core systems like their Point-of-Sale or Order Management Systems, etc. and the work on their customer data ultimately takes a back seat.

It’s tough to watch companies deprioritize strategies and tools that will further the understanding of their existing customers, given this is the true-value driver for any business. However,  it happens, and it happens frequently. Many times these other systems have the promise of delivering value but are not at the heart of what’s important — to truly understand and gain insights on your customers.

Now is the time to prioritize strategies that will help you understand your best customers (along with all of your customers) and what future value they can unlock for your business.  Businesses are dealing with adjusted hours, delivery only and store closings, team members are working from home and have a few more minutes than they usually do.  You can then use that insight to create meaningful and empathetic interactions now that will strengthen the emotional connection between your most valuable customers and your business. Now is the time to create a strong foundation to play offense and quickly engage them once people get back to work and their daily lives.

The question is, will you use this time to rally your team around increasing data quality and aggregating your customer data to get a complete look at your customers wants and needs? Will you use this time to be ready to emerge from this uncertainty as a truly customer focused organization that drives true loyalty and is ready to move into action when things start to turn around.

Though, I guess the real question is what will happen if you don’t do it? Our existing customers will be the most important piece in the early stages of recovery. Will your organization be prepared to meaningfully engage with your customers when the race to rebuild begins?

Ned Moore
Chief Executive Officer

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