If you are anything like me, your parents raised you to have good manners, be polite, and always say please and thank you. And as a kid, you did your best to follow what you were taught – either because it made you feel good to do the right thing, or because you were terrified to find out the consequences if you didn’t!
With the current state of our economy, I’m here to tell you that remembering some of your childhood lessons – specifically the one about saying thank you – can pay off more than you might think.
Now I’m not talking about thanking someone who holds the elevator door open for you or carries out your groceries to your car – those are givens (and you’d better be doing them)! I’m talking about sincerely and genuinely thanking your best customers for sticking with you during these tough economic times. In today’s world, and in almost every category, it is critical to try and maintain your best customers and keep them doing business with you. The 20 percent of your customers who bring in 80 percent of your business are your lifeblood, and you can’t afford to lose them or have them begin to look elsewhere.
We have assisted with several thank-you efforts for our clients over the past year, and the results have been positively staggering. Some have been as simple as a well-thought-out phone call from a sales rep. Others have been as complex as segmented direct marketing efforts with tiered levels of thank-you rewards or incentives.
The important thing is to do something, and make it relevant and meaningful to your key customers. They’ll appreciate being acknowledged, and you’ll be keeping your brand top of mind (and keeping your competitors out!). Just remember to be sincere and don’t require any purchase on the part of your customers. The results will come… trust me! Thank-you efforts we’ve executed for our clients during the past 12 months have netted ROIs ranging from 50 to 630 percent.
So go out there and test it for yourself. I’ll bet you’ll see some great results. And best of all… you’ll make your parents proud!
– Stephen Weinstein – Director of Account Management