Caring For Your Customers

Do you appreciate your customers?  Think about this for just a minute and then answer it honestly.

I’ll ask you again, do you appreciate your customers? I mean REALLY appreciate them!

We’ll assume that you answered yes. Now, here is the most important question.  Do they KNOW that you appreciate them?

Appreciating your customers is one thing. Making sure they KNOW that you appreciate them can be the difference between keeping them as a customer and potentially losing them to a competitor the next time they need the product or service you offer.

There are 4 main reasons why customer retention is so important to a company’s success and growth.

• Affordability:  It’s 5-25 times more expensive to acquire a new customer than it is to retain an existing company.
• ROI:  A 5% increase in customer retention can increase your revenue by 25% or more.
• Loyalty:  It goes without saying that retained customers buy more often and spend more than new customers.
• Referrals:  Word of Mouth is still the BEST and cheapest advertising. 

This concept seems very logical and so simple that we would think every business would be doing it, right? Wrong!  The truth is that most don’t.  

Another truth is that making sure your customers know you appreciate them takes effort, and effort often-times means time and money, or both.  But it’s worth it.

Tip #11 in the 11 Ways to Show Your Customers You Appreciate Them is “Create a Thank You Video”.  Tip #6 is “Sending a Handwritten Note” and #7 is “Make a Personal Phone Call”. While both #6 and #7 are more personal, creating a video is unique and different and it can save you time. Create one video with one generic thank you message, and the rest is as easy as sending an email.

As competition continues to grow bigger and stronger, making sure your customers KNOW they are appreciated is key to continued growth.  To see all of the 11 Ways to Show Your Customers You Appreciate Them, click here.