Customer Retention Strategy: Are Your Customers Suffering From a Broken Heart?

by Michelle Salater on January 7, 2011

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According to John Coe, author of The Fundamentals of Business to Business Sales and Marketing, “68% of long-term customers stop buying because they just don’t feel ‘loved.’” What this finding tells me is that over half of all businesses don’t appreciate their customers enough—or at least don’t show it enough. How sad is it to think that your customers might be feeling unloved?

Of course, customers are going to leave a business that doesn’t appreciate them and seek love from businesses that will give them the appreciation they need and deserve. B2C relationships are just like any other relationship in the world. The fundamentals to a healthy relationship begin with reciprocal appreciation. If one party of the relationship doesn’t show appreciation toward the other, an imbalance causes the underappreciated individual to search elsewhere for balance.

This is exactly what customers do when they feel unloved by a business.

Here are 4 ways you can show your customers that you love and appreciate them—today:

1. Remember special moments: How warm and fuzzy do you feel when you receive a Happy Birthday email or gift certificate from a business you’ve been loyal to for so long? You feel appreciated, right?

When customers spend their hard-earned money on a business, they want to feel a sense of gratitude. Sending a warm birthday wish to remind customers of your appreciation for their business is a great way to stay in front of them and show them that you are thankful for their business. It also shows that you care enough about special moments in their lives that you would remember to send them a note.

I have been going to a particular salon and spa for years now, and every year, I receive a birthday card from them with a certificate for a free manicure. I look forward to it every year and continue to use them for additional services. I feel appreciated for my purchases, which encourages me to continue buying from them.

2. Give gifts: Offer a free gift to loyal customers for no reason at all, or start a rewards program that gives clients credit for purchases. Not only does this encourage them to purchase more from your company, but it also shows that you want to provide them with extra value for their purchases with your business.

Whether you’re offering a 50% discount on products or complimentary services, a free gift is always welcomed and appreciated.

3. Go the extra mile: Surprise your customers with complimentary services. For example, if you own a luxury salon and spa, offer a complimentary 10-minute head massage to clients who are receiving hair services. Let them know that the service is complimentary. This shows that you want them to receive the most value for their visit.

4. Listen to them: Listen to and address customers’ needs. When you take the time to listen to what your customers want—whether in person, with a suggestion box, through email, or on social media sites—there is no reason for them to go to your competition. They know that your business will cater to their needs.

For example, if you own a salon and spa with a Facebook company page, ask your customers how they would prefer to schedule appointments. If respondents mention they would love to schedule appointments online, then address these needs and enable them to schedule online. This not only shows that you are interested in what they want, but that you are also willing to accommodate their needs.

When has a business showed gratitude to you?

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If you like this post, you might also like:

  1. Customer Retention Strategy: 4 Ways to Give Them What They Want
  2. Customer Retention Strategies That Work: 3 Real World Examples
  3. Direct Mail as a Defender of Customer Loyalty
  4. A Lesson from a King on Listening to Customer Needs
  5. How Much is Your Customer List Worth Any Way?
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