Do you appreciate your customers? Of course you do, but how well do they know it?
According to “The Service Advantage” by Karl Albrecht, 96.7 percent of dissatisfied customers never notify the business of the bad experience. In addition, those unhappy individuals will tell at least 15 other people, while satisfied customers will tell 6 at the most.
Did you know?
• Keeping a faithful customer is five times more cost-effective than attracting new ones. (The White House Office of Consumer Affairs)
• The value of an average customer may increase by 25-100 percent by simply raising customer retention rates by 5 percent. (The Loyalty Effect)
• The average business loses between 10-30 percent of its customers each year. (Eastbridge Consulting Group)
With this in mind, there is no time like the present to brush up on ways to let your customers know you really care.
The “Thank You Economy” by Gary Vaynerchuk describes how loyalty should be at the heart of all transactions. To have a faithful following, you need to first be loyal to your customers.
The classic “thank you” note denotes more appreciation than ever before in the digital age. Taking time out to jot a quick, handwritten note shows you are thinking about them as an individual. Discount offers blasted via e-mail are nice, but lack the class and personal touch of a sincere, old-fashioned thank you.
Choose a person at random and send them a gift for being a great customer. Don’t do it during the Holiday season. Selecting another time of year shows you are thankful for them year-round, not just when it’s traditional to do so.
Offer a survey and implement customer suggestions. Your customers may have great ideas about how to improve their own experience and increase your satisfaction rates at the same time. Applying advice given by others is one of the greatest ways to show gratitude. It also wouldn’t hurt to send them a special thank you gift or note to drive the message home.
Recommend helpful resources to customers that show them how to run their businesses more efficiently.
Today’s customers want to know they make a difference on even the smallest level and they recognize the businesses that show them loyalty. To grow, take the extra step to thank them and they won’t forget it.