Monday, November 18, 2013

Appreciating the Top 20%



I have said it before, you really do need to show appreciation for customers for doing business with you.  Why?  Because studies show that 69% of customers that leave you will do so because of "perceived indifference."  They will leave you because they don't think you care!

You don't want that to happen.

On the other hand, not all customers are created equal.  Most businesses have a group of customers that make up their top 20%.  These customers spend more.  They are more profitable.  Maybe they are even the ones that are easier to deal with!  You want to make sure and thank those customers!

Solution:  Create a simple program that "thanks" those customers once a quarter.  By limiting your group to the top 20% you can keep the budget manageable and still get them a "gift" that is nice.  Get something that has value (and your logo) and you have made that "gift" also advertise you long after you have said thank you.

This will help you ensure you don't lose your top customers to "perceived indifference" and will also often create more opportunities to do business with your top 20%!

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