Almost everyday I receive a piece of correspondence in my mail with enticing offers for services. I’m especially amazed at the wide-ranging offers I receive from one Service Provider in particular who’s been trying to woo me back or just woo me as a new customer. This is the same company whose Customer Service Department I contacted several times over a three-month period in an effort to reduce my bill for a combination of three services. The response was not positive so I took my business elsewhere.
It’s likely that almost everyone reading this has or know someone who has had a similar experience and it begs the question, “What are these companies thinking? “Have they not heard of customer appreciation?” “Doesn’t customer loyalty mean anything to them?” “How does it make you as a current customer feel?”
Instead of paying thousands of dollars to lure new customers, wouldn’t it be a less expensive proposition to do whatever is possible to keep your current customers happy? Interestingly Brian Woolf, the author of Customer Specific Marketing-The New Power in Retailing and a loyalty marketing expert, noted in his research that only 1% of new customers become the best customers of a business. It means that it would be in the best interest of the business to show their current customers that they appreciate them.
As a small business owner, solo-professional, or entrepreneur you recognize that your customers and clients have a large number of options on where and with whom to do business. What do you currently do to encourage customer loyalty? Do your customers and clients know that you appreciate them? I’d love to hear your responses. We learn from each other…