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The Recession is Over!

Have you heard? The recession is over! Maybe technically, based on the definition of a recession it is over. Who knows? And when will we really know? We didn’t know we were even in a recession until six or seven months after it started. Actually, we knew, we felt it. It’s just the economists and other people who tell us what we need to know that didn’t know until six or seven months after we knew. Know what I mean?

So if the recession is over, should we do anything differently? I say no.

I think our customers are still hurting and still need our help. Anything we can do to help our customers survive this downturn will strengthen our relationship with them and ensure that we will continue to grow with them as we really do come out of the recession. Forget all about what you do and think about what problems your customers are dealing with. How can you help them solve those problems? How can your products or services help your customers gain additional revenue or reduce costs?

Companies must buckle down and use this opportunity to really understand and serve their customers effectively and in a way that drives value. Companies that succeed at that challenge will be the companies that enjoy dramatic growth as demand starts to regain traction.

Those that don’t? Well, at least they can rest assured that the recession is over.

About the Author

Phil Bounsall

Phil Bounsall

As president at Walker, Bounsall is focused on the development and execution of strategies and operating plans designed to enhance Walker’s position as a global leader in customer intelligence. Bounsall also works with Walker’s client service teams to help meet the needs of Walker’s clients.

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0 thoughts on “The Recession is Over!

  1. I feel the same way about this announcement as I did when Pres. Bush posted the sign on the aircraft carrier declaring we were done in Iraq because it was, "Mission Accomplished." The recession can be technically over, but I assure you that the nearly 10% of the US population without jobs and the additional 7% who are underemployed or have given up would not agree. The recession is not about indicators alone any more than a hurricane is about the rain alone. The recession will be over when growth returns through positive market demand, which is still some ways off.

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