Firms should focus on marketing

Businesses should make sure they focus on marketing in the current economic climate rather than cut back on it, it has been claimed.

John Dunsmure, managing director of the British Chambers of Commerce (BCC) explained that firms which do not look after their customers in the economic downturn “really will struggle”.

They should be looking to make sure that they keep their current client base, he suggested, before adding that the current period of negativity could be used to foster innovation.

“Look at your business plan, identify whether you are on the right track or not, if you have to change and diversify, be cautious about it but if you feel strongly, go ahead,” Mr Dunsmure added.

He also suggested that businesses should have a good cash management system in place to help them through the downturn.

Additionally, he claimed that utilising new technology to allow employees to work ‘in the field’ was another way of improving customers’ satisfaction - and therefore retaining them.