Loyal customers are a goldmine to your business and the backbone of long-term success. This is because they always support it from time to time. Repeat clients buy more of your products or hire your services frequently.
As a matter of fact, according to Bain & Company, only a 5% increase in your customer retention rates leads to a 25% boost in your business profits.
So you need to ensure that you make your current customers happy. It encourages them to continue supporting your company and one of the best strategies is giving back to your repeat clients.
Dive in and learn how you can regularly give back to your loyal customers.
1. Promotions And Bonuses
They are the most common methods used by various businesses to attract new customers and give back to existing ones. There are different types of promotions you can design for your clients and it depends on the nature of your business.
For example, you can reward customers with an extra item on a given number of products bought. Or you can offer free shipping services to most of your clients who buy in bulk. All this makes them feel appreciated and inspires many to continue supporting your brand.
Several online and offline businesses have used this strategy for years to maintain great relationships with customers. This explains why various industries are flooded with a lot of promotions and bonuses like clothing, electronics, and smartphones. Not only those but the online gambling world also has lots of them. Many gaming platforms have several offers for all new and existing punters. The good news is that the best casino bonuses are listed on review sites for easier search. Moreover, the site has top welcome bonuses and online casinos for Indian players. Plus a guide on how to calculate bonus wagering requirements and in-depth reviews.
2. Offer Gifts
You can reward your loyal customers with branded items to thank them for their continued support. Some of these include T-shirts, caps, calendars, umbrellas, key holders and so much more. They play two major roles in your business. Branded gifts appease your customers because the gesture shows that you have gone the extra mile.
Furthermore, branded items are also key marketing materials because your clients indirectly advertise your business. Wherever customers go with the product, they make your brand known to others.
On top of that, there are other corporate gifts you can give out to more loyal customers. You can surprise them with gift cards, apparel, office accessories, and electronics among others. They are the best offers for clients who make your business more money.
3. Loyalty Program
A loyalty program is among the best ways to retain your existing customers. It is a dedicated channel through which you offer your clients loyalty benefits from time to time. You must design it in a way that the program rewards customers who continue coming back to your business.
In fact, a study by eMarketer reveals that 58.7% of all internet users believe that earning loyalty points. And rewards are among the valued aspects of their shopping experiences.
This gives you solid reasons to have a cashback program for your customers and they will embrace it with open hands.
4. Give Discounts
You can also cut the prices of your products or services for your loyal customers. It enables clients to buy them or hire you at a lower price than the normal one. This is common especially in seasons like Christmas, Easter, back to school, and black Friday among others.
However, you shouldn’t give discounts just because others are giving them. You have to first consider their effect on your profits or business target.
5. Sponsor Community Programs
Several events take place in different communities and you can take part by sponsoring them. Some of the community involvement programs good for your business include funding a local marathon or a football match.
You can also organize your company team to attend and cheer up the community. Not only that but you can use the opportunity to give out some of your branded items like water bottles and T-shirts.
