You may find it easy to attract new customers with the lure of incentives, deals or promotions. BUT, are you keeping them after that? A recent Forbes article, Warning: Is Your New Customer Coming Back? 4 Steps You Should Take Now, explains that spending all that effort and time bringing in new customers may be costing you a lot more than it would keeping an existing one- in some cases 6 to 7 times more!
Of course attracting new customers is a crucial part of your loyalty program that should not be abandoned but a healthy balance between attracting the new and nurturing the current can spell success for your loyalty program as a whole.
Recognizing your current customers in a unique way can give them that sense of ‘special’ treatment that encourages them to stick around:
Try Saying Thanks – Sounds simple enough but it’s sometimes forgotten that a thank you goes a long way. Try sending a ‘Thank You for Your Loyalty’ email to customers who reach the one year mark, five year mark, etc. Customers don’t always need an incentive or reward for being loyal, just a little appreciation.
Use holidays as a way to appreciate your current customers- Sending out gift cards to The Children’s Place on Mother’s Day, gift cards to 1-800-Flowers on Valentine’s Day, or gift cards to CVS/pharmacy on a customer’s birthday shows how much their loyalty means all year round.
Take the time to take a special interest in your customer, it’s got its rewards.
Check out Forbes, Warning: Is Your New Customer Coming Back? 4 Steps You Should Take Now to get more ideas on keeping your customers close.