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Recession-Proofing Your Business

September 5, 2019

It seems like every day there are new signs that a recession could be right around the corner. A U.S.-China trade war, a slowing global economy, falling interest rates in the bond market, just to name a few. Economic ups and downs are a natural part of a capitalist economy and since the great recession of 2008, we have been enjoying an extended period of economic expansion. What goes up, eventually comes down. 

Fears of an economic downturn are growing and those fears can be felt quickly for a small business owner. Businesses know that when hard times hit, it is time to tighten down and work hard to weather a downturn, but smart businesses know there are steps they can take to not only maintain profits but even grow the bottom line.

Here are two ways you can recession-proof your business…

Keep Existing Clients By Improving Customer Service

The most cost-effective way to maintain revenue is to keep current clients. Today, customers demand the highest level of customer service from companies. If they don’t receive the service they expect, they know there are other businesses out there ready to swoop in and take your hard-won customer, often for life.

Providing your customers with the best service by answering the phone 24/7 can be daunting for businesses large and small. A modern answering service can not only take messages but provide your customers with information, often only limited by the information you can give the service. When customers want answers, your business will be ready with agents 24/7 for a fraction of the cost and headache of answering the phones yourself.

Gain New Clients By Capturing More Leads

As business slows and marketing costs grow just to maintain a flow of new leads, it is important to capture every lead that comes to you. How many times have you called a business and got a voicemail message? When potential customers call a business and there is no answer, they will typically just go to the next company on their list.  When you have a live person answering your phones, day or night, your ability to capture more leads and gain new business grows exponentially. 

A modern telephone answering service can provide you with that live voice 24/7, giving potential clients information about your business and capturing information from your caller. Think of how much just one customer is worth to you and how much more business you can close if you are the company that answers their phones 24/7.

Improving your customer service and capturing more leads will improve your business’s bottom line regardless if we are in a boom or bust cycle of the economy. Partnering with an answering service such as Call Management Resources can put you ahead of your competition. Contact us today to find out how we can delight your customers and increase your bottom line this year. Because missed calls cost you money. Answered calls make you money. And we answer calls.