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Customer Retention in a Recession | CRM Guru Blog

Home » All Posts » Customer Retention in a Recession | CRM Guru Blog

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Though this article is focused on the retail vertical, the strategies should apply across industries:

With a recession in full swing, cutbacks are being made. The latest Bellwether report from the IPA revealed the biggest fall in marketing budgets for nine years. However, in an economic downturn it is even more important to spend and use marketing budgets wisely. In the current climate it is easy to think the worst but marketing departments will still have money to spend.

With consumers tightening their purse strings and seeking cheaper alternatives, one of the best ways for marketers to spend their reduced budgets is on customer retention and development, i.e. focusing on the key customers – the 10% giving you 50% of your turnover.

Read the rest of the article at:

Customer Retention in a Recession

About Brian Vellmure

For much of the last two decades, Brian has been helping B2B and B2C organizations across a variety of industries and sizes accelerate growth through customer focused transformation initiatives. He is an accomplished business leader, management consultant, keynote speaker, and an award winning syndicated blogger. He is often referred to as a Social CRM and Social Business thought leader & pioneer.

His thoughts have been featured in Forbes, Inc, CRM magazine and a host of other publications. He is a regular contributor to several additional media properties including Social Media Today, Social Enterprise Today, CustomerThink, the CIO Collaboration Network, and multiple Ziff Davis outlets.

In addition, he often serves as an expert advisor for technology vendors and their customers, providing thought leadership content, and market and product strategy guidance. Clients include IBM, SAS Institute, Microsoft Corporation, NICE Systems, Eloqua, Avaya, Marketo, SugarCRM, InsideView, and several startups.

Brian was a founding board member of International Princess Project, a social enterprise pioneer that helps restore hope & dignity to women formerly trafficked and/or enslaved in forced prostitution through a unique and sustainable organizational model. http://www.punjammies.com

Brian has traveled to more than 40 countries, is a real estate investor, and was an award winning NCAA Division 1 football scholarship athlete. He is is based in Orange County, CA.

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