Finding customers is really expensive – depending on the category your product is in, it can cost from $5 – $1500 to find a new customer. But that’s only the start – many companies pay so much attention and resources on acquisition, that they then spend far too little on retention.
Retention is a much simpler process. Obviously it starts by delivering a quality product on time and in a seamless manner. After that, brands can do little things to make their customers feel known, seen, and appreciated. Here are examples of how major brands could do “little” things to retain my business…
1. Airline: If you purchase in-flight Wi-Fi, hold that as a credit towards a future flight purchase. How simple would that be – and at such little cost – to make someone feel appreciated when you are paying to stay connected – and you will remember that the next time you make an airline purchase.
2. Artist or Band: Send a hand written Birthday card. Seriously. Imagine the joy when a fan receives a handwritten note from their favorite artist on their favorite day of the year. Time consuming for the artist, sure. But simple & impactful. And the social media buzz will make the time worth it.
3. Gas Station: On every 5th fill-up, you get a free Pepsi or Chips or Candy. Loyalty to a particular gas station is not rampant – this will build loyalty and appreciation. It will also drive the consumer inside which will raise the profits. Again, easy & effective.
4. Restaurant: Free dinner on your Birthday with NO strings attached. Think about it – people do not celebrate alone – so why not give the Birthday Boy a free meal? The rest of the group will spend heartily and again – the positive word of mouth will outweigh the cost and drive future traffic.
5. Hair Salon / Spa services: Keep a file of past treatments, so when your customer walks in you can easily pull up their history. This allows the customer to do one less thing – think. Most people using a spa or getting their hair done enjoy the time of escape. So a great way to retain them upon their visit is to have their history handy, and have a knowledgeable rep talk them through what was done in the past, and help them decide what to do on this visit.
Retaining fans is one of our specialties at maddjett. Give us a shout if you need a strategy on how to do this for your product / service.