Tuesday, August 05, 2008

A Chance to Speak To The Community

Recently I had the chance to sit down and have a conversation with Becky Carroll over at Customers Rock! blog. We were talking about how SuggestionBox.com came about and how it could help companies during the current economic downturn. In every organization each person has their own perception of how the product addresses a pain point for someone and that is refined by the ultimate vision. Focusing on the customer relationship with the company and finding ways to help make that better was my segment of our vision. Read the conversation.

Here are some interesting data points that reinforce why connecting with your customers now can help you avoid over-binging on that marketing campaign, guessing on product price points and other day-to-day thoughts you have on your way into the office.

  • According to Nielsen Research, 49% of consumers plan on spending less due to the economic squeeze.

  • Everyday consumer spending is taking a beating, with some 56% of 3,359 online shoppers surveyed April 29 to May 23 indicating that they are cutting back because of the weak economy and growing inflation - source

  • Retail-focused ETFs taking a dive - source

  • Consumer spending takes toll on retailers as inflation rises - source

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