Have you ever felt taken advantage of and not appreciated by a business you have been a loyal customer of for many years? Have you ever sat watching the television and noticed one of those commercials offering new customers a huge discount over what you are now paying as a long term customer? Mobile phones and credit card companies are two that instantly spring to mind as being especially guilty of this practice. This is why people tend to switch phone companies and take out new credit cards with zero transfer rates, because they want the best deal.
Your own customers are no different, if they see that you are offering your new clients better deals but never giving anything back to your current customers, in the end they might decide it’s time to move on to someone else who is offering new clients rewards. If this sounds familiar or if you offer new clients special deals, you might want to build in client rewards to your business model that help keep your current customers happy.
It’s not necessary to break the bank to reward your customers, you can create a simple reward program that respects your valuable time and your customers’ loyalty.
Create a VIP Program
Create a VIP program that is only open to your current customers. You can also potentially charge a sign-up fee for your VIP program, and once someone is signed up they can earn valuable discounts, freebies and special access to customer care.
Send Cards/Gifts Regularly
A mentor of mine used to swear that there was no better way to make someone feel special than a hand written thank you card, it’s cheap to implement and the payback it out of this world. If you send similar hand written cards on their special days such as birthday, anniversary of them becoming a customer, they’ll feel appreciated and rewarded. As an added bonus try to include a small discount on their special days, or present them with an exclusive package deal just for them based.
Deliver Exceptional Service
One of the easiest ways to reward your customers is by simply giving them outstanding, exceptional customer service each and every time you deliver their product or service. Remember, you are here for them, not the other way around so never take them for granted and never put off an old customer to service a new one, it should always be the other way around.
Provide a Free Training Webinar / Live Event
You could host a live training event whereby your aim is to share your knowledge and enhance the benefits the clients experience using your products or services. In addition to training you could run a frequently asked questions section and perhaps a mastermind class, it’s up to you, as everything customer centric will be rewarded. You can also invite others to attend but charge them for entry, this way your customers are rewarded and you maximize your opportunities.
Provide Advance Notification
If you are planning to launch a new product or offer a new service, you can reward your customers first by giving them advance notification and the opportunity to purchase these new things at a special discount before you launch these to the general public.
Offer Unannounced Premiums
Personally I love this, as it comes as a complete surprise. When you customers purchase things from you it’s always nice to throw in something extra for free. It doesn’t have to cost much, if anything at all, it can be as simple as an eBook or eReport, I actually purchase protein shakes and many of the companies I order from throw in free mixer cups and which companies do you think I remember and appreciate and feel appreciated by.
The main point to keep in mind is that finding and acquiring new customers is very expensive compared to retaining your existing customers. So anything you can do to up their perception of your value will be something they will remember, especially given the current trend of rewarding new customers over current customers… be different, stand head and shoulders above your competition and reward your current customers first.