When economic hardship increases and prolongs, chivalry often dies. It’s as if the root of all successes is in rudeness, officiousness, generalisations and all other nasty “nesses” out there. Perhaps we worship materialism and its abundance in our lives proves our closeness to our “material god” that a lack thereof, reveals our distance from our “material deity”.
Big companies, despite having resources to attract and retain customers, often resort to draconian and often “suicidal” rules to guard their revenue generation despite the impact on customers. No wonder loyalty is beginning to wane, with customers easily switching to competitors when their offers are seen as sustainable and dependable alternatives. Entrepreneurs should seize the moment and use the economic downturn as the opportunity to build a solid and loyal client base by maintaining good customer care practices, acquiring true knowledge of their customers, showing appreciation to loyal customers and offering customers, especially loyal ones, more flexibility to their offerings. By Nimroth Gwetsa, 31 August 2019. Continue reading