Ah, high customer retention, the dream of every company ever. Everyone wants them and everyone is also aware of the importance of loyal customers, but more often than not, those same customers are taken for granted and are never granted any kind of special treatment. And if someone deserves special treatment it’s a loyal customer.
Are you rewarding your long-term customers who keep showing their loyalty to your brand and always come back for more? Are you doing everything you can to keep the relationship healthy and mutually beneficial? Almost every business offers a bonus to attract new customers. A gift, discount, a promise to fulfill their wildest dreams - you name it. It’s a bait that gives results - new customers are coming in daily, they’re happy, you’re happy and your job is done. I’ve seen this scenario so often it pains me how many companies think of rewarding existing customers as an unnecessary luxury. The only luxury in that scenario is losing a customer. Who would want that?
A company that takes care of its long-term customers does not have to worry about the future and think if they’ll ever run out of new customers.
Even the simplest, smallest gesture can do a lot!
A small gift or a personalized note will make your customers feel special and keep them engaged. If someone is rewarded for their loyalty, rest assured they will brag about it all over the place.
Some brands have realized this a long time ago and did not waste a moment to act on it. Asking your customers for their opinion can also do wonders. Even though you may think that they’ll see that as just another survey, customers are actually happy to be involved in the decision-making process and help the company with valuable feedback and suggestions.
Are you working on a new product? Ask your customers to participate in beta testing! They will feel special for having access to something that is not publicly available yet, you will get a valuable feedback and the hype around the upcoming product (provided it’s a good one) will be created without much marketing efforts.
A small effort provides a huge return, and it’s so easy to implement with all the technology available today. A CRM system will tell you who your most loyal customers are. You can even automate the process and set up a trigger to activate the “special treatment.” It can be a returning customer, the total amount spent, or their level of engagement.
Long-term customers are the most valuable asset a company can have, treat them like that.