The year is winding down, but your marketing efforts don’t need to dwindle. Now’s the perfect time to let your customers know you appreciate all their 2018 business. You don’t even need a big budget for a “Thank You” marketing campaign, just a big heart.
There are of course, solid business reasons to embark on this effort too. Companies that experience greater customer satisfaction have better reviews and feedback, giving them a competitive edge in the marketplace. It’s an organic way to increase your company’s value. Showing appreciation is also important for creating loyal customers. Customers who are vocal supporters of your company and would never dream of doing business with anyone else.
These are the kind of customers that increase profits. That’s because it costs five to seven times more to attract new customers than to keep existing ones, according to Bain and Company stats. Remember that golden business rule: retain customers and earn their loyalty….. and subsequently lower your acquisition costs. You’ll also have an easier time selling to them again, as existing customers are 50% more likely to try new products and spend 31% more, compared to new customers. Cha-ching.
A thank you campaign goes beyond just engaging your customers, but looks to make them feel special. The idea is to show the human side of your organization through an honest and heartfelt one-to-one approach. So tap into your CRM and start identifying your customers and any useful information about them that will help you reach out to them in a meaningful way.
Here’s three inexpensive tactics that will show your customers the appreciation they deserve:
Personalize An Offer
Customers enjoy the opportunity to make something their own. That’s the real beauty of personalization. People like seeing their name or an offer that is relevant to their current situation. Research by Marketo found that 79% of customers are likely to engage with an offer if it has been personalized to reflect previous interactions with the company. This is why if you can spend some time with your data, your “Thank You” offer will not only be appreciated it may bring you more business. And if there’s a way to allow for customer customization – try it. For example, service related organizations try offering 15% OFF the client’s choice of service for a month. (Okay, this offer may add to your campaign budget.)
Send Thank You Emails
The studies all show that customers really like when companies demonstrate their appreciation. A personalized thank you doesn’t have to cost you anything. However, the more personalized you can make the message the better it will be received. Dig into your data. And by all means put “Thank You” in the subject line as email marketing stats show an improved open and click through rate when those words are included.
It you’re feeling adventurous try creating a thank you week-long email campaign that offers customers five opportunities to accept your gratitude. This way if a customer misses opening an initial email they still have four more occasions to receive your appreciation.
Turn It Into A VIP Program
Now keep it going all year long. Taking the time to say thank you is important. It’s automatic for most everything we do in our daily lives and it should be automatic in our business lives as well. You can turn this into a year-round program that offers loyal customers exclusive deals or access to a new product or service. Business to business efforts can include sharing customer profiles on your website and enewsletter that demonstrate your shared success while working together. Promoting your customers pays offs by cultivating customer satisfaction and increasing loyalty.
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