Customer Appreciation: The Key to Repeat and Referral Business
It’s Time to Make Business Great Again
“A man without a smiling face must not open a shop.”– Chinese Proverb
80% of your business comes from 20% of your customers. Attracting new customers can be both time consuming – and costly! So how do you keep the customers you now have? By building relationships with them!
You want to build a lasting relationship with your customers. One of the ways this is done is by showing them how grateful you are for their business. And by appreciating your customers for their business, you will build a network of people who will refer others to do business with you. They will become your best salespeople!
Consider these statistics:
78% of consumers have bailed on a transaction or not made an intended purchase because of a poor service experience. (Source: American Express Survey, 2011)
A typical business hears from 4% of it’s dissatisfied customers while 96% of customers don’t voice complaints, and 91% of your customers will never come back. (Source: “Understanding Customers” by Ruby Newell-Legner)
On average, loyal customers are worth up to 10 times as much as their first purchase. (Source: White House Office of Consumer Affairs)
The probability of selling to a new prospect: 5-20%. The probability of selling to an existing customer: 60-70% (Source: Marketing Metrics)
It is 6-7 times more expensive to acquire a new customer than it is to keep a current one. (Source: White House Office of Consumer Affairs)
3 in 5 Americans (59%) would try a new brand or company for a better service experience. (Source: American Express Survey, 2011)
Most businesses show little or no appreciation for their customers.
86% of customers who leave do so because of bad customer experience. (Source: Customer Experience Impact Report by Harris Interactive/RightNow, 2010)
We are very ineffective at communicating to them that we care and appreciate them.
“Although your customers won’t love you if you give bad service, your competitors will.”– Kate Zabriskie
We’ve all heard that old adage: “real estate is all about location, location, location.” If that is true, then business is all about “relationships, relationships, relationships!”
70% of buying experiences are based on how the customer feels they are being treated (Source: Touch Agency). While providing quality products and services is a must, appreciation marketing helps you to:
Stay in touch with your clients, and
“People don’t care how much you know until they know how much you care … about them!”– Zig Ziglar
And, your appreciation will seem most sincere to your customers when:
You provide quality products and services.
Your word is your bond – you actually deliver what you said you will deliver.
You actually appreciate them for the business they give you.
Almost 9 out of 10 U.S. consumers say they would pay more to ensure a superior customer experience. (Source: Customer Experience Impact Report by Harris Interactive/RightNow, 2010)
“Whatever you are, be a good one.”– Abraham Lincoln
There are a number of ways to show customer appreciation. However, greeting cards sent along with gifts are the most powerful business tools to help make sure your clients and customers know just how important they are to you! And, by showing appreciation to your current and past customers and clients, not only will you get more referrals from those who do business with you – you will also grow your business.
Contact us today to learn more about how appreciation marketing will help you increase repeat and referral business.