4 Tips for Rewarding Loyal Customers
Posted by Meredith Estep on Thu, Jun 10, 2010 @ 09:17 AM
It costs significantly more to attract new customers than it does to maintain current ones. While you want to bring in new clients to help grow your business, you do not want your loyal following to fall out of favor because they feel underappreciated or even ignored. Thankfully, there are four ways to let your loyal customers know how much you appreciate their business.
Get to Know Them
Regular customers like to be recognized. They like to be called by their names, and they like to see staff members take the time to come over and talk to them when they enter the business. Regular customers love it when customer service representatives remember their favorite products or services, and they love to be introduced to related products that might enhance the convenience or value of their business.
Of course, getting to know the regulars takes a little time and effort, but the return for your company can be great. Those customers who feel appreciated and cared for will probably stay with your business over the long haul.
Give Them Extras
If you are debuting brand new products, hold a preview evening for select customers. Offer them free samples of new products or coupons for initial purchases of those products. Give them the inside scoop of the latest and greatest in store for your company. Mostly, provide them with service that goes way above and beyond what the average customer might expect. Loyal customers deserve to be treated like royalty, so get the red carpet ready when they walk through the door.
Provide Incentives
Customer rewards programs began years ago in the airline industry, and today they are still going strong in just about every customer service industry. You can offer a free product or service after the purchase of ten, or offer a free item with multiple purchases. Allow your customers to accumulate "points" with every purchase that can be used to get a reduced price or free product.
By providing future discounts, you incent your customers to stay with you over the long term. To track purchases, give your customers a punch card or a plastic swipe card that keeps a record of points with each purchase.
Reward Referrals
Even with the many options in advertising thanks to today's technologies, one of the best ways to build your business is still through word of mouth. To make sure those recommendations get passed from your loyal customers to new ones, offer rewards for every referral given. When your current customer sends someone new to your business, reward that customer with a coupon off their next purchase or a free item. Some companies also keep small gift cards in stock for other businesses to send customers as a thank you for referrals.
Keeping customers happy is an important component in a healthy business. Current customers want to feel important and cared for by everyone on your staff. When your loyal customers feel appreciated, they are more likely to return to you and send others your way time and time again.
-Meredith Estep