We can all argue over whether or not there is a recession but one thing that is clear -- businesses are feeling the impact of the current economic environment.

If you are like many business that are feeling the pinch of tough times you might want to look back to what you were doing a year ago when the economy was stronger. The best defense against any business slow down is a strong, loyal customer base. The question is what have you been doing to create this base and is there still time to act?

The good news is that it is never too late to focus on your customers and the sooner you do that in a meaningful way the sooner you will see the benefits. The truth is customers will spend less in bad times, but they still spend. They just spend it differently, often being more critical of the choices they make about when, how and with whom to spend those limited dollars. By understanding what drives your customers and what they are looking for you are able to adapt and keep them coming back.

One of the best methods focusing on customers is to implement a customer feedback system. It is amazing the rich information you can glean from this and how surprising some of that information can be. So often businesses fail to identify what makes their business unique and successful. Many start to erroneously believe their own marketing message rather then what customers are indicating

In poor economic times customer feedback data used wisely in poor economic times can also be an ideal way to target new customers. As we spoke about customers become more critical of whom they do business with and are more likely to look for alternatives. It is easier now than ever to lure you competitions customer away – with the right message. Smart marketing during bad times can help you grow your business and position it to explode when the economy picks up. By adopting this two prong approach (customer retention and smart marketing) you will be able to build a stronger business that can weather the tough times.

So how can you afford this with business the way it is? How can you not afford it? I don't advocate wild and free spending. However, understanding your customers and targeting prospective customers who are just like them you can create a stronger marketing message. This message will be far more effective. All of this means you will get more bang for the buck.

By successfully converting this deeper customer understanding in to tangible business plans you will both retain and grow your customer base in tough times. Further you position your business for explosive growth as the economy rebounds.