Eight ways to reward your loyal customers
With Christmas just around the corner, you might be thinking of giving a festive gift to reward your loyal customers. Of course, that’s a good idea, but rewarding your regular customers should be an all-year-round concern. Demonstrating that you value them will encourage them to keep spending with you.
Here are eight ways to show appreciation to your loyal customers and encourage repeat spending.
1. Offer a discount upon reaching a spending threshold
There are a variety of ways to reward high spending. For example, if you’re a service-based business, you could offer a percentage reduction if your customer commits to a higher level of service. Or, if you’re selling a product, you can give a percentage discount on the customer’s next purchase when they spend a qualifying amount.
2. Provide preferential service terms
For larger customers, you could provide them with an enhanced level of service compared to your other customers. Preferential service could include, for example, out-of-hours service, faster turnaround times or free delivery.
3. Invite customers to trial new products and services
Make your customers feel special by giving them early access to a new product or service. They’ll appreciate you asking, and you’ll be able to gather helpful feedback before fully launching.
4. Host exclusive events
Invite your loyal customers to an exclusive event. The type of event could be a new season preview evening at your shop or a hospitality event such as a day at the races.
5. Collaborate with a synergistic business and offer a reciprocal deal
Partner with a business that has a similar customer demographic as yours but isn’t competing directly with you. For example, a pet food shop could partner with a local dog groomer to offer discounted grooms. In return, the dog groomer could give its customers vouchers to use at the pet food shop.
6. Ask for their feedback
Nothing makes customers feel more valued than being asked for their feedback. And the bonus is that you’ll learn what you’re doing well and not so well to improve your overall customer experience.
7. Reward introductions and referrals
Thank your customers when they refer you to others. You can introduce a formal ‘refer a friend’ scheme where the referrer receives a discount or gift’ or simply send them a thank you acknowledgement.
8. Send gifts
And finally, as I said in the opening, you could reward your loyal customers with a gift. Of course, everyone likes to receive something unexpected, but you don’t have to restrict it to Christmas when they probably receive lots of other gifts. Instead, consider other occasions such as the anniversary of their first instruction or purchase. Or how about a “happy new year” present?
You can’t guarantee customer loyalty, so it’s important to constantly show customers that you care about their business. Ultimately you want to develop long-standing relationships with them.
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