Customer Appreciation Leads to Customer Retention and Loyalty
Customer satisfaction is often considered the gold standard of customer retention and loyalty strategies but there is something more important: customer appreciation.
While most businesses tout customer satisfaction as a way to prove their worth, the truth is that going beyond the expectations of your market is much more important. While satisfied customers will stick around until something better (or what they perceive as better) comes along. When you achieve the highest level of customer appreciation, you have won the customer retention and loyalty jackpot.
So how do you demonstrate customer appreciation? It starts with data. Data that will tell you why your customers enjoy doing business with you. This involves really getting to know your customers.
Customer loyalty is what the most successful businesses know how to garner because it is one of the very few things that ensures that a customer will come back time after time. It is recession-proof, as well, because it has nothing to do with price. In fact, when price is your biggest selling point, there is no way to win in the long run.
To stand out among your competitors in terms of customer appreciation, you need to develop a unique and particular strategy that no one else can replicate. They are unable to replicate it because you have used data collected through engagement with your customers to find out exactly what your target audience of customers and prospects are looking for. Once you know what they are looking for – and what they appreciate about your business – you need to double down on your efforts to make sure you continue to provide these things and more.
Studies prove that customers are more devoted to a business that invests in customer appreciation. And a loyal customer is five times more likely to return to a business. Further, loyal consumers will spend 90% more often with a business and 60% more each time they make a purchase.
The best way to turn new customers into loyal customers is by investing in a customer appreciation initiative, always keeping in mind that customers have a long memory when it comes to how they were treated. Like any partnership, customers are much more likely to form a meaningful and long lasting relationship with a business that shows them they care about them. This goes far beyond monetary transactions and includes how they are treated after a sale is made. To learn more, give us a call at (402) 334-1824 or visit goleads.com.