Supporting you

BUSINESS SURVIVAL & GROWTH

THROUGH COVID-19 & BEYOND

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Customers

Customers

Looking at your customer base, both existing and new, will help focus you towards the future of you business. Have your customers changed, are there new customers now? What do your customers want now? Now's the time for your business to innovate and focus on customers.

 

CUSTOMERS

Be Proactive

Be proactive in approaching your customers.

Keep in touch.

With current and past customers

Flex your Services

Be flexible.

New Key Customers

Who are your key customers now?

Not forgetting your former key customers, of course. But previously lower key customers, may now be in sectors that are steady or even seeing growth. 

Look afresh at all your customers.

Contract Terms

Know your customer contract terms.

Create a spreadsheet for easy reference.

Note: in 'unprecedented times' customers may ignore contract terms, out of choice or necessity (force majeure clause may apply).

Downward Pricing Pressure

If you're experiencing downward pricing pressure, or reduced demand:

Consider including extra services or products, that cost you less than a price drop, whilst add value to your customer.

Price Reviews

Price reviews take time to do, you may/may not have more time to do one now. Or pricing may be now or become more important. We are entering a recession, when price sensitivity is higher. 

Price reviews can consider
 - internal cost plus profit

 - customer profile, demand and affordability

 - competitors pricing and marketing

 - economic factors, recession, inflation

 - price consistency across product/service range

or rational based (other than historical) f you're experiencPriing downward pricing pressure, or reduced demand:

Consider including extra services or products, that cost you less than a price drop, whilst add value to your customer.

Create Goodwill & PR

If you have spare funds or time.

 

Do good, help others for free.

Support customers on a reduced rate or pro-bono (on a limited basis).

Give your time or deliver free products to support key workers or those in need.

 

Share your expert advice and experience. 

Pay suppliers early.

Amy Newton, ACMA 
consultant
Supporting you
Sarah Platt, ACA 
consultant

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Hannah Sage, ACMA 
management accountant

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