Top 7 Ways to Reward Customer Loyalty
By Kate Marsden
[ Print |
Email This |
We all like to think we get something extra for being a loyal customer. We like the feeling that we are that little bit special. And we hate to think that new customers get the same or, even worse, something more than we do. Everyone knows the statistics about how much easier and cheaper it is to retain a customer or client than to get a new one. But all too often these are the very people we forget about or take for granted, especially when your business is growing and you are focused on bringing on board all those new customers. So try these ways to reward customer loyalty.
- Discounts - Offer existing customers a discount for additional services they take or give a volume discount for larger purchases. Be prepared to go further for your loyal customers.
- Exclusivity - Offer an exclusive product, service or event that is only available for current customers. Make it unique, original or different and clearly show that this is for long term customers only.
- Donations - Be bold in how you support your very top customers how about a charity donation to a cause of their choice.
- Gifts - Give all your customers a gift at Christmas again make it personal and different (no one is impressed with a small box of chocolates!), maybe a related and relevant book that you have picked.
- Declare it upfront - Talk to new customers about what will happen if they stay with you for the long term dont be embarrassed that you give more to long term customers, be open about it as a positive business approach.
- Do it early - Never wait until your customer leaves or threatens to leave and then offer them the world to stay. Not only will you hack them off massively, but even if you keep them in the short term, you will not have a loyal customer in the long term.
- Trials - Use loyal customers to trial new products and services not only will you get better feedback, but your customers will feel they are ahead too.
Want help improving your profits? FREE reports to help Small Business Owners stop falling for the myths and start understanding the real rules of profits. Download instantly for fast profit results! Kate Marsden is The Profit Mechanic and gives resources, tools and support to Small Business Owners to improve their profits. Read more about The Profit Mechanic here.
Article Submitted On: February 28, 2012