4 Cost-friendly Ways to Show Appreciation to Your Loyal Customers

4 Cost-friendly Ways to Show Appreciation to Your Loyal CustomersIt’s nice to show customers appreciation

One of the surefire ways of increasing a store’s profits is by improving the number of its loyal customers. Returning customers generate more business than one-off customers—in fact, they can be worth more than 10 times the value of their initial purchase. In addition to contributing to your store’s profits, loyal customers can also offer opportunities for cross selling products, and they attract more customers to your store by word of mouth. Plus, the cost of maintaining an existing customer is more economical compared to converting a one-off customer into a loyal one.

Returning customers bring a lot to your business and it’s in your store’s best interest if you continue to pursue a mutually beneficial relationship with them. There are ways to keep them coming back, and many of these don’t necessarily cost a lot of money on your end. Here are a few of the strategies you can employ to acknowledge your loyal customers and make them feel that you appreciate their presence in your store:

  1. Give them freebies. Free items are generally appreciated by many people, including your customers. Give them freebies and gifts that they can only get at your store, and make sure that the item has the logo of your business while you’re at it. It’s easy to order customized silicone or rubber wristbands, woven lanyards, pens, keychains, and reusable bags that you can give to your customers. The items can be given away to every customer, or you can use them as a prize for loyalty programs. Ensure the quality and durability of the items so that your customers can use them for a long time.
  2. Get to know them. Another way to show appreciation to your customers is by getting to know them. This is similar to how most coffee shops make it a point to know the name of their regulars. You don’t have to act too friendly with them, but try to take note of their shopping habits, for example. A great point-of-sale system can help you in this task. Sign up your customers to a loyalty program and use your POS to record their engagements with your business. This way, you can get a good picture of their shopping and product preferences. You can also try sending customers discount vouchers on their birthday month, or maintain an active social media account where you can reach out to your customers.
  3. Get their opinion on things. Getting your customers’ comments about your store’s latest promos and programs is one way of showing that you care about them. It shows that you value their opinions and that you’re willing to lend an ear to their concerns. Ask them how you can improve customer service and your ongoing loyalty programs. You can do this by posting surveys on your store’s official social media accounts and replying to your customers there, sending email surveys a few times every year, or even by casually asking them when they visit your store in person.
  4. Offer exclusive benefits. Offer your most valuable customers exclusive perks and services once they reach a certain amount of points or level in your loyalty programs. For example, you can give them early access to holiday discounts, tier-based discounts for certain items, or more substantial freebies, if your store offers those. This not only shows that you value them, but it also encourages customers in lower tiers or those with less points to keep on purchasing at your store in hopes that they’ll reach the same levels and enjoy the same perks in the near future.

Show your customers that you genuinely value their business by coupling these strategies with excellent customer service. This way, you’ll not only encourage them to keep on coming back to your store, but you’ll also have an easier time converting one-off customers.
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