Do you know the primary reason consumers leave a brand? Indifference. What’s the best way to combat indifference? Gratitude. That’s why your business needs to rank highly on the gratitude scale. The more gratitude you show your loyal customers, the more likely they are to stay loyal.
Why Gratitude Matters
Gratitude matters because of simple human psychology. From a young age, we are trained to crave affirmation and achievement. Medals and ribbons hang proudly in our childhood bedrooms. Even more foundational are our relationships – all of which are based on gratitude. Our most basic functions as humans all come from a desire to be rewarded. That’s why retail businesses need to tap into this psychology and show their gratitude, rewarding loyal customers.
A few years ago, my team conducted marketing research for a major mortgage provider. We were interested in interviewing new customers to identify opportunities to improve the customer experience in the early stages of the relationship. The overwhelming response from new customers was that they were disappointed that there was no official welcome pack when they joined the brand. This was a key milestone that was missed – and an opportunity to show gratitude. Customers notice.
Gratitude is a cycle. The more you show your thankfulness to your customers, the more thankful they are for you and the more they shop. Don’t be afraid to invest some serious thought and resources into rewarding your customers – it will pay dividends.
Make it Happen
How do you increase your rating on the gratitude scale? There are a number of easy techniques to show gratitude at every point of contact and be sure to retain those loyal customers.
Celebrate your customer’s milestones! This is from the moment they join, through various milestones such as anniversaries, spend level, tenure. Show them that their choice in your brand is being rewarded. The bigger, the better! Shock them with your generosity.
2. Reward referrals
If you’re not already rewarding referrals, now is the time to start! This is a clever way of investing your customers in your business – if they get rewarded for referrals, they will really care about your brand. Help them feel like brand ambassadors and show your thankfulness for their hard work and loyalty.
3. Random nicety
Don’t underestimate the power of a random act of kindness. Great brands understand that loyal customers are a precious asset. Hold a loyalty program exclusive sale or VIP event to show your customers your gratitude. Send them a birthday gift or a complimentary offer – and watch them return to your store again and again.
4. Loyalty program
Loyalty programs are probably first thing you think of when you think gratitude – and that’s okay! Don’t overlook the obvious solution. An excellent loyalty program has the power to transform your business and draw customers. There are three key principles to keep in mind when designing your loyalty program:
• Genuine. Make your customers feel as genuinely cared for as possible. Avoid token sentiments!
• Generous. Don’t make your customers work too hard for a reward – show them your gratitude.
• Unique. What can set your loyalty program apart? Think creatively to make a loyalty program which will engage your clients.
The Power of Gratitude
If clients report feelings of indifference just before leaving a brand, then gratitude is a clear solution. No one feels indifferent toward someone who treats them so well! Show your customers that you care for them and are thankful for their business. The power of gratitude is amazing. You won’t believe the results – be grateful!