Thanksgiving is a great time to express gratitude to the people around us. One group we should be especially grateful for, but often neglect is our customers. So we must keep them happy and make them feel valued by shopping at our business. A simple way we can do that is by finding ways to express gratitude to customers. In this article, we will discuss​​:

  • The Power of Existing Customers
  • How to Prevent Competitors from Moving in on Existing Customers
  • Ways to Thank Your Customers

The holiday season is approaching, which means it’s a busy and stressful time for business owners as they ramp up. While many people are wondering what food to put on the Thanksgiving table, business owners are wondering how we can drive more sales.

So what’s the most effective way business owners can drive sales?

The answer lies in our already existing customers.

Retaining existing customers is far easier, and much less costly, than looking for new customers.

One thing you should be worried about is if customers are shopping from competitors.

We may not have thought about it because they’ve already purchased our product and so far you haven’t received any complaints or bad reviews. But we should still be concerned because if we’re seeing less and less familiar faces, that means they’re going somewhere else.

Well, to keep customers buying from your business, all you need are two magic words.

No, it’s not “hocus pocus”. It’s “thank you”.

That’s right, a simple thank you can go a long way toward securing the loyalty of customers.

To learn more about why that is, watch our latest video where I explain how expressing gratitude can increase brand loyalty and why that’s exactly what we need.

The Power of Existing Customers

Have you ever heard of the 80/20 rule? This is the concept that 80% of sales will come from 20% of your customer base. That 20% is existing customers. Therefore, we must ensure our existing customer base remains happy, loyal, and content with the services that we provide.

How to Prevent Competitors from Moving in on Existing Customers

We have to keep a pulse on customers’ happiness to keep them loyal to our brand. The way we do this is by having frequent, positive interactions with customers so that when the time arrives for them to buy your product again, they will think about you and your business before any other entity.

These genuine, positive interactions add value to your company for customers that competitors may not have. This value is often what sets you apart and stops your competitors from moving in on your key customers. Remember, it is always easier for your competitors to steal your market share rather than try to find a new customer who has never purchased that type of product before.

Be sure to do frequent surveys on customer satisfaction and ask for customer reviews to identify areas that need to be improved. Thank customers for their time in providing feedback. For example, for every Google Review we get, we always reply with a thank you for leaving a review.

Ways to Thank Your Customers

Send a Handwritten Note

In an age where everything is digital, we often neglect the power of “old-fashioned” communication. Writing a handwritten note or letter shows customers you care because you took time from your day to personally address them. Customers will appreciate the authenticity in the letter and sometimes will even hold on to it.

Offer a Free Service for their Loyal Patronage

You could also offer a service to thank them for purchasing. An example would be that after a customer’s third purchase, you give them the fourth one for free. Or you can offer a free upgrade after multiple purchases. You could also include samples or gifts in their order.

Support Causes They Care About

Giving back to the community is a great way to show that you care. Ask customers what organizations they’re involved in or causes that they care about and support them. You can donate a portion of your profits or you can organize a volunteer effort with your staff and even invite customers to come alongside you.

Support their Business or Interests

If you interact one-on-one with your customers, you get to know them fairly well. If you have the chance to build a report with customers, you have an opportunity to learn what they do, what they care about, how they spend their time. You can support them in these things by letting them know of any upcoming opportunities that could be beneficial to them. Or you can create a mutual relationship with them by partnering with their business, referring people to customers’ businesses, or asking customers to teach a workshop for your team. Even a small purchase from their business is enough to show that you appreciate them and that you care about them.

Provide Special Treatment

Provide opportunities for special treatment of your customers, especially the top 20 percent. For example, if you are about to launch a new product or update some of your product range, then let these special customers know in advance rather than find out through public media advertising. It is a way to continue to educate your customers about the benefit of your products and you may also provide an offer to purchase or try the product before it is released to the public. Another opportunity is to contact your customers relating to the history of the product or service. Maybe you contact them about 12 months after their purchase to give them an update on your business or simply to check that everything is going well with the product they purchased.

ActionCOACH of Indiana Thanks YOU!

If you’ve made it this far in the article, or if you read any of our articles, we’d love to extend a thank you to you. Without your readership and support, we wouldn’t be able to do what we do. Our mission is to change the lives of business owners and if you learn even one thing from the article, then we can say we are fulfilling that mission. As an additional thank you, we’re offering free coaching sessions to address any of the questions you may have about your business or business coaching. We can only offer four a month, so reserve your spot sooner than later.