Is Thank You, Thanks Enough - Customer Rewards - Presley & Partners - Presley & Partners


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Is Thank You, Thanks Enough – Customer Rewards

June 27th, 2016

customer rewardsIn many ways, yes, a simple and genuine thank you can do the trick. But in what is being referred to as “The Thank You Economy”, experts are claiming that the power of a significant (and consistent) thank you can make or break a business.

In this case, it is authenticity that really makes the difference. It is easy to say it, but how do you show you mean it?

Creativity is your friend here- never skip the verbal thank you, but always try to implement a unique way of showing appreciation. This helps you stand out among competitors and allows you build upon customer loyalty.

Shy away from financial loyalty rewards whenever you can. They may seem like a great idea at inception, but the crux here is the possible perception that the monetary value doesn’t match the efforts made to remain a loyal customer. Too much personal speculation- steer clear.

Instead, try a small-personalized gift, reminding the customer that you are invested in them as a valued customer and a person with interests and hobbies. Capitalize on the sales small talk to gather information and remember to keep the gift light hearted and simple.

With so many social media outlets these days, endorsements, ‘likes’, ‘follows’, etc. are also a valuable form of thank you. If your customer runs a business consider how you could endorse them via their social media sites in return for their contributions to your own success.

While it could be a lot of time-consuming work there is always something to be said about the old-fashioned hand-written thank you note. Most people pass on this option because of the time commitment, but because of this, you could reap the benefits of being the only one doing so.

Other popular options include customer appreciation day, offering deep discounts for loyal customers or rewards club memberships, only offered to those who purchase over a certain dollar amount, or sign contracts for specific amounts of time.

Free shipping, online giveaways, raffles and ‘bonus dollars’ are also great methods of employing the ‘actions speak louder than words’ method.

Referrals are also another traditional (yet effective) strategy for saying thank you through action. Much like online endorsements, personal referrals and positive feedback can go a long way.

Remember to always strenuously thank your most difficult customers or those who have complaints. Going out of their way to express ways in which you could improve their experience is invaluable- make sure they know you think so!

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