As the credit crunch continues to take its toll, businesses have been advised to prioritise the customer experience and focus on retaining current customers.
Writing on E-consultancy, David Jackson asserts that investing in tools such as web analytics and customer satisfaction surveys is a savvy approach in a difficult financial climate.
"In hard times, existing customers are a godsend," he observes, claiming that targeted investment is essential if firms are to keep their heads above water.
Using feedback from consumers can assist enterprises in their attempts to shape business plans, while word-of-mouth advertising means that keeping existing customers happy can be a good way to win new ones, Mr Jackson claims.
As evidence, he cites recent research from Forrester, which found that US chief information officers are planning to up their spending on web analytics and other customer experience systems.
Meanwhile, Ian Pearson, minister for science and innovation, has called for the UK to mimic the US's culture of growing small enterprises into larger ones, reported IT Week.
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