How Mid-Market Tech Vendors Can Retain Customers During a Downturn

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Three strategies that will help you save your accounts.

Unlike a bank run, the shock of a recession occurs over months, but it’s equally likely to change the goals that your customers had when they signed with you. It’s essential to understand those changes and partner with your customers as they adapt to them. That starts with your customer-facing people asking one question: How is the economy affecting your goals, and have any of your goals changed? Outside of a downturn, when everyone has resources, it’s not a question that people ask.

For your disengaged customers, you need to get to them before they act, with your own plan of action. These customers might be unhappy, but everyone appreciates a vendor who shows up to offer a solution. The first is through relationships and reporting. Your customer-facing people should map out the tree of decision-makers at your customer’s company, and work with your end user to engage and influence them. Get hands-on setting up and customizing your customers’ reporting to communicate its full value. Coach your end-users on the tough questions that their leaders will ask — and offer to join those meetings.

 

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