How to remain competitive in an economic downturn

For an organisation to continuously retain its customers, it should carry out process engineering so that the speed of solving important issues is equated to that of solving urgent issues, and that of solving urgent issues is reduced to that of solving emergency cases.

This can only be attained through proper utilisation of available resources with the ultimate aim of reducing service to customer duration.

An urgent need is one that requires satisfaction but not almost immediately. It can wait but only for a very short period. An important need is one, though necessary, which can be attended to at a another specified date.

Ability to satisfy needs leads to customer satisfaction and the degree of efficient service delivery has a direct bearing on customer loyalty and hence growth in market share.

In order for a service provider to succeed in the market place, it is desirable that the gap between urgent and important requirements are bridged and sorted out instantly.

If an urgent need is satisfied within the time frame of satisfying an emergency need, then the customer will be delighted and will develop some affection to a particular service provider.

If an important need is satisfied within the same time frame as an emergency, the service provider will have a greater appeal to customers. This in essence is the concept of time as money.

The writer works for a financial services provider in Nairobi. View expressed are personal. Kuriamutura@gmail.com