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During a recession, look to drive growth through customer retention  

By Editor - Tue Nov 22, 4:17 am

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Vijay Sundaram Contributor Share on Twitter Vijay Sundaram is Chief Strategy Officer at Zoho , where he drives corporate strategy, execution, channel management, business development, and enterprise sales. More posts by this contributor We must end the era of adjunct surveillance The global economy is teetering on the verge of a recession, causing many organizations to retrench, either by slowing investments or aggressively cutting costs. Retrenching can be an effective protective measure for defending against inflation and slowing sales, but how can founders proactively drive growth in a recession? Over the last few decades, many tech companies have managed to withstand, and even grow, through economic downturns by redirecting assets and focusing efforts toward creating customer value and boosting retention. New business is critical to growth, but there are no guarantees that a first-time customer will become a lifetime customer. In periods of economic uncertainty, companies cannot rely on new customers alone, and maybe not at all. A more dependable growth strategy is managing existing customers and broadening the products and services they use over time.

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During a recession, look to drive growth through customer retention

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