As children, we’re taught that it’s good manners to say thank you. In fact, we say thank you all the time: when we’re given a gift; when a favour is done for us; when we’re provided assistance; or simply when someone passes the salt. But, how often do we say thank you in business … beyond the sale?
Consider these statistics:
It is six to seven times more expensive to attract a new customer than it is to retain an existing one. – ThinkJar
The probablility of selling to an existing customer is 60 – 70%, while the probability of selling to a new prospect is 5 – 20% invespcro.com
Existing customers are 50% more likely to try new products and spend 31% more, when compared to new customers – invespcro.com
At the end of May, I had the privilege of helping host Avanti’s 2017 User Group Conference, which took place in Denver, Colorado. It’s a tremendous opportunity for customers (both new and longstanding) to learn about new products, share ideas, and network with their peers. For us, it’s a great way to say “Thank You” and further strengthen the customer relationship.
Don’t get me wrong. There’s a LOT of work that goes into planning an event of this caliber. And, while a User Group conference might not seem feasible for your business, there are many other types of customer appreciation events that you can hold to say, Thank You. They range in size and scope, depending of course on the size of your customer base. I’ve produced (and attended) all sorts of customer events, including Golf tournaments, open houses, holiday parties, sporting events, celebrations, etc.
But what if that just isn’t “your thing”. What other opportunities are there to say Thank You?
Use your CRM: Your CRM system is a goldmine of information. In addition to storing contact and job information, you can use it to record things like the anniversary date of the first job produced…or perhaps the last. Set up alerts that remind your sales team to say thank you, whether it’s by email, snail mail (see below), or a good old-fashioned phone call…and be on the lookout for repeat business.
Tradeshows: The number one question I get after attending a tradeshow is: how many leads did we get? And, while lead generation is typically a show’s primary objective, don’t lose sight of the tremendous opportunity it provides to (re)connect with your customers. Say Thank You with a nice dinner, or perhaps a private reception (we did that at Graph Expo and it was a tremendous success).
Thank you/greeting cards (aka: snail mail): In a digital world, receiving a hand-written thank you is no longer a common occurance. As printers, you are at a distinct advantage over just about any other industry, with access to designers, paper choices, unique finishes, and more. What a great way to showcase your shop’s capabilities … simply by saying Thank You for your business.
Announcements: Did you recently get some new equipment? Are you expanding your services? While press releases are a great way to get the word out to the masses, personalizing the message to your loyal customer base is sure to get the machines humming! Don’t be shy…let them know what’s new and what’s coming. Better yet: invite them to an “exclusive preview”, before you announce it to the public and/or post it to your website.
Loyalty/Referral program: It’s common practice to offer discounts for new business. However, if you publicize special discounts to “new customers only” (ie: 10% off your first order), you risk alienating your existing customers. The solution? Why not say Thank You publicly, to your loyal customers, by incenting them as well. For example, receive 10% off your next order with any new referral (insert caveats of course). Or draw inspiration from many loyalty programs: For every X amount of dollars spent, earn points/dollars towards future purchases.
Introductions – Referrals work both ways. Perhaps you have a customer who is in real estate and another who provides landscaping. Making an introduction costs little, but the value of a newly-forged, profitable relationship is not soon forgotten. Pretty soon, they’ll be saying Thank You … to you … with even more repeat business.
Two little words that can make, or break, a customer relationship.
Joanne Gore is the Director of Marketing for Avanti and a monthly contributor to Print Media Centr’s News From The Printerverse. She has nearly three decades of B2B marketing and communications experience, including corporate and small office environments. Joanne develops lead generation and conversion programs, re-brands product lines, implements social media strategies, manages PR and media relations campaigns, overhauls websites, develops highly targeted marketing campaigns, and delivers results. Joanne is an industry presenter, currently sits on the board of Xplor International, is the President of Xplor Canada, and is a returning mentor for the Ontario Summer Company, a Government initiative for youth entrepreneurship and employment. She graduated as a Graphic Designer and, prior to joining the corporate world, worked in the print industry as an art director, typesetter, and printing consultant. Joanne is a marketing geekette by day, a fitness instructor by night, and a mom 24-7.
Contact Joanne at email@example.com and follow her on Twitter: @JoanneGore121