According to data compiled by Harvard Business Review, the cost of attracting new customers is 5 to 25 times higher than retaining existing customers. Businesses will use various strategies to boost customer retention and improve their experiences to ensure they keep coming back for repeat purchases and remain loyal to the company.
Besides offering free items, discounts, and specials to regular customers shows that you appreciate their business, here are 4 simple yet remarkable ways to reward your loyal customers and turn them into your brand ambassadors, that you might not have thought about it just yet:
1. Host a preview event
Create events around new products or services and invite your best customers to preview them. You want the event to feel special and unique, so create an elegant ambiance, making sure you meet with every guest. Asking trusted customers to give you feedback on the new product gives them a sense of ownership over the product, which is likely to lead to sales and word-of-mouth later on.
2. Write a thank you note
An authentic handwritten note on a beautiful card, using your customer’s name and referencing their recent purchase and their business name can go a long way. Handwritten notes are very rare and special these days. Therefore, writing a specific, personal note to a loyal customer is a meaningful way to let them know how much they are appreciated.
3. Partner up with other businesses
Team up with other businesses to offer gifts or reciprocal discounts. The partnership is good for both companies, stimulating sales andallowing customers of both businesses to try each other’s products.
4. Create education programs
Customer education programs demonstrate long-term investments in your customer base. As part of this initiative, your company is creating a variety of tools for customers, such as a knowledge base and community forums. The program doesn’t have to be necessarily related to your business only, it can also extend beyond your products and services, as long as it offers real value to your customers.
How do you reach out to your customers to show appreciation? Would love to find out in the comments below.