This Thanksgiving, Show Your Customers Your Appreciation
Small business owners are adept at balancing delicate cash flows, ensuring they wisely spend every penny going out the door. With the holidays approaching, it’s only natural to wonder if the money spent on special customer appreciation efforts is worth it relative to other critical areas of the business.
The short answer is””yes! Before we begin to talk about ” how” to show customer appreciation this Thanksgiving, it might be wise to focus first on ” why” you should.
Customers are more devoted to companies that invest in appreciating them. Because you are striving to provide more value to them, they are willing to reciprocate by giving you more loyalty. That equates to spending more, and they may even be happy to advocate for you proactively. Consider these facts:
â— Good customers spend five times more per order than average ones
â— They make four times more purchases
â— They are worth 30 times more over their lifetime value
Forbes reports that just a 5% increase in customer retention can result in a 75% increase in profits. Check this site out for more helpful statistics related to customer loyalty, and then, let’s get started appreciating those profit-minded customers.
To get the kind of loyalty that results in profit increases, a company should make customer appreciation a consistent mindset that’s maintained over time. Especially as we approach Thanksgiving, now is a perfect time to start implementing an engaging customer appreciation strategy.
All customers aren’t created equally
Before you launch into your Thanksgiving customer appreciation tactics, you will want to put the most focus on your most valuable customers. Start by identifying the 20% of your customer base that is contributing to the majority of your revenue. Find those customers and give them extra attention on them this holiday.
With this approach, you can stretch your dollars to have the most impact on a healthy bottom line for your business.
Start the holiday gift-giving early
Just about everyone appreciates receiving a gift. The more personal you can be with your corporate gifts, the more significant the impact they will have. For your top customers, take the time to find gifts that will be reflective of their interests. Conversely, curated items that are related to your company can also be impactful. For example, a gift basket, featuring items native to your city or state of operation, shows you care enough to make a personal connection.
Make sure you understand your clients’ gift-receiving rules. For instance, some don’t allow them at all (eg., government employees), while others limit the cash value of the gift their employees can accept.
Display generosity
Some companies have found, much to their dismay, that their holiday customer appreciation gifts have had an unintended effect. The old saying, ” you can’t please everyone” is, unfortunately, frequently true. Gift-giving, being somewhat relative to the receiver, can be perceived as too much or not enough, too impersonal, or not sufficiently customized.
Some small businesses have solved this dilemma by donating to a charity instead. You can offer to donate to your customer’s charity, notify clients that you’ve made a group donation in honor of them, or give them a choice of a few charities to which you will contribute instead of a material item. This type of customer appreciation “gift-giving” has become more and more popular, particularly among millennials who place a high value on corporate responsibility.
Host an event
While the December holidays are typically a busy social time for everyone, Thanksgiving offers a more laid-back opportunity to host an event. Happy hours, dinners, and parties held at the corporate office are popular or, you can be more creative with niche activities. Again, the more you know about your customer base, the better able you’ll be able to plan a well-received event.
The best events are casual and relaxed and, depending on your company culture, may or may not mix customers and employees. It’s a nice touch to allow customers to bring family or friends to make it a more comfortable and enjoyable experience. Company-branded items can be on hand, or you can offer more expensive door prizes as a festive touch.
Add value
As they say, actions speak louder than words. Customer loyalty often takes more than words; it requires actual value like rewards, discounts, and exclusive or free offers, such as””
â— Free month of a service or subscription
â— A sample of a brand new product
â— Product upgrade, enhancement or accessory
â— A discount on an invoice
Thanksgiving is an excellent time to offer these types of thank you gestures to your top customer base.
Stand out from the pack
Whether your company decides to send gifts, notify customers about a charitable contribution, award event prizes, or make added-value product offers, you can tie it all up in a unique way with creative packaging. This Thanksgiving, why not contact the packaging services experts at Ohio Valley Goodwill’s Industrial Services Division for your seasonal packaging in Cincinnati?
We specialize in providing packaging services to companies in the Greater Cincinnati area, and all work is meticulously handled from start to finish. That’s because our packaging services are performed by a team of motivated employees who can produce high-quality, customized packaging on time and very often, under budget. Our business development professionals will work with you to create a plan that’s right for your business needs, whether you’re looking for seasonal contract labor or a more long-term solution.
Most importantly, the businesses that partner with Goodwill support our mission to provide meaningful employment to individuals with disabilities and veterans in the Greater Cincinnati area. To learn more about our Cincinnati packaging services””or any of our logistics services””contact us today and receive a complimentary tour of our facilities.
