Customers are the lifeblood of your business. You can only stay in business as long as they come in and generate revenue for your business. Yet far too many businesses fail to implement campaigns or plans that thank their customers. Let's explore why it can be a big mistake to employee contact list overlook customer appreciation, and also find some ways your business can say “thank you” to the people who keep your doors open. Why is customer appreciation important? At first glance, customer appreciation looks more like a company value than an essential business strategy. Some businesses may choose to employee contact list prioritize their customers more than others.
But, customer appreciation should be a priority for every business for several reasons. Customer appreciation helps improve customer retention. Satisfied customers turn into repeat customers. Buyers and customers are more likely to employee contact list return again and again when they feel they are getting great value and customer service from a brand. Customer retention increases customer lifetime value. When existing customers return, the value they bring to your business increases. When every existing customer is more valuable, you don't need to acquire as many customers to employee contact list generate the same revenue.
Even better, as you acquire more customers, each brings more and more revenue to your business. A high customer lifetime value allows you to employee contact list earn more while spending less. When you market to existing customers , you make more revenue and it's actually easier to generate more sales. It is cheaper to sell to an existing customer than to a new customer, and existing customers are likely to spend more on a purchase than a new customer. Satisfied customers tell their friends. When customers feel a strong connection to a brand, they are more likely to employee contact list share their good experiences with family and friends.