The Working Week 87

Everyone is watching President Obama's first 100 days in office - what will happen, what policies will be instituted and what the priority areas will be to combat the downturn.

But what about companies? What can they do over the next 100 days to manage their customers and ensure that when the economy turns around, they still have a solid business and vision in place? Should companies look at the short, quick fix within the next 100 days or focus on long term growth?

That's the question Wayne discusses with Jonathan Copulsky, principal in Deloitte Consulting LLP's Chicago office where he heads up the Customer and Market Strategy service.

As Jonathan explains, the current crisis demands significant and immediate action - doing nothing is not an option. Customers have good memories, so while taking short-term actions that produce measurable but modest benefits might make a business feel like it's doing something effective, but it can also end up damaging customer relationships that it will need in the future.

So what is his advice for riding out the downturn and setting your business up for long term growth?

First, Jonathan says you should bend over backwards to make sure each individual customer is happy. Give them the personal touch. Do what you can to keep customers loyal.

Second, upgrade your talent. When competitors implement across-the-board staff cuts, take advantage of their mistakes and upgrade your own sales force. This keeps everyone on their toes.

Finally, go after a competitor's customers. A downturn stretches companies to the breaking point. Find unprotected areas and exploit them.

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