January 2010 Newsletter

Five Ways Small Businesses Can Begin Positioning for the Upswing

1. Put service first
"Small businesses have one enormous advantage: When it comes to customer service they can really turn on a dime," says Rick Moran, vice president of small business solutions marketing at Cisco. "They're not bound by the layers of practice and procedure that sometimes hamper larger organizations."

Indeed, more and more companies are learning that cutting back on customer service erodes both brand value and word-of-mouth referral business.

In a February 2009 report on customer service, BusinessWeek found that companies with the best customer service rankings in 2008 didn't rest on their laurels. Instead they improved their customer service over the last year, while those with the worst customer service records simply got worse over the same time period. As BusinessWeek associate editor Jena McGregor pointed out, "The best companies, those that put customer service first, are trying to invest more right now and are trying to avoid cutting back."

2. Prioritize Loyal Customers
One of the most straightforward ways to boost customer service is to improve your phone system. Long hold times, dropped or disconnected calls, or failure to return calls is one of the surest ways to let your customer know that you don't value them.

3. Preserve Operating Capital
The ongoing credit crisis makes it difficult for small businesses to access external financing sources. And when credit is scarce, cash is king.

Cisco's Moran says addressing this dilemma with flexible financing options is part of the plan to make Cisco a perfect fit for the small business market. "This makes it easy for small businesses to save their capital by using our capital," he says.

4. Say "No" to Administration and Installation
With cash and human resources tight, it should come as no surprise that the opportunity to acquire software, such as Cisco WebEx, with no big up-front investment of capital and minimal administrative overhead is an idea that's catching on fast.

This flexible, low-commitment method of "renting" software is a big part of Cisco's small business software strategy. "Our company sells things by the minute or by the month and you don't have to buy any equipment," says Moran. "Just input your Visa card and you're in business."

5. Choose Reliability
When resources are constrained, people become risk averse. For better or worse, this "flight to quality" means that a reliable brand name has cachet. "Small businesses can often be prudent in the wrong places," adds Moran. Buying a little quality can help stretch the capabilities of your staff and allow you to spend more time where it matters: with your customers.

Would You Like Additional Information?
To learn more on how your business can begin positioning for the economic upswing, please contact your local Nexus Account Manager or email us at connect@nexusis.com.