Take the post rate-cut temperature of your customers

The RBA has finally delivered some much-needed relief to Australian households and businesses by cutting official interest rates for the first time in 31 months.

I, for one, think it’s a great move. Confidence remains pretty fragile right now and this is a great little boost before Christmas. Hopefully customers (whether they are B2B or B2C) can go into the New Year with plenty of confidence.

But I will be spending the next few weeks finding out exactly how my customers are travelling, so I can tweak any of my plans in response. As I keep saying, intelligence is everything in this market.

Now, there are a few ways you can do this. It might be possible to send a survey around if you have a lot of customers, but this does come across as a bit impersonal and might not actually get you the insights you need.

My suggestion would be to ring a few key customers and have a chat. Ask they how they are seeing the sector. What is their pipeline looking like for next year? What do they need to do a better job? How can you help them further?

Hopefully you will come away with a really good sense of how you need to scale up (or down, but hopefully not) and a few great ideas for new products or services.

Get it done – today!