“Gratitude is not a limited resource, nor is it costly. It is abundant as air. We breathe it in but forget to exhale.” – Marshall Goldsmith.
As a business owner or manager, you know it’s important to express gratitude to your customers. But sometimes, it can be tough to come up with new and exciting ways to show appreciation. Here are three reasons why expressing gratitude is essential, as well as three ways you can show your gratitude that will make your customers feel valued.
What is Gratitude?
Gratitude comes from the Latin word gratus, which means “thankful” or “feeling pleased”. Moreover, gratitude can have several meanings depending on the situation and context. For example, in business, appreciating customers means building personal relationships that go beyond the transactional nature of the typical customer experience. When customers feel gratitude, they appreciate actions, deeds, and satisfaction with the end result.
Why is it important to express gratitude to customers?
When shoppers receive personalized appreciation for purchasing a product or service, they feel valued for supporting your business. When customers feel appreciated by your company, they’ll be more likely to do business with you repeatedly and less likely to give you trouble.
Three reasons why you should show gratitude to customers
1) Gratitude improves long-term profitability:
- 86% of buyers are willing to pay more for a great customer experience, which means happy customers will lead to more revenue.
2) Gratitude encourages word-of-mouth advertising & Positive Reviews:
- 93% of consumers say that online reviews influenced their purchase decisions.
- 92% of B2B buyers are more likely to purchase after reading a trusted review.
- Word-of-mouth drives $6 trillion in annual global spending and is responsible for 13% of all sales.
- 74% of consumers identify word-of-mouth as a key influencer in purchasing decisions.
3) Gratitude enhance customer loyalty:
- Research shows that customer appreciation strategies have an impact on customer loyalty, which in turn, has a positive impact on a company’s growth and profitability.
l) Thanking Customers In Words
Studies published by Psychological Science have found that people are unaware of gratitude’s impact on others. For instance, a simple “thank you” to shoppers can improve somebody’s day and overall well-being. Moreover, customers are willing to pay more for a better customer experience, meaning gratitude has the potential to boost profitability.
- 86% of shoppers are willing to pay more for a better customer experience. – Oracle
Consumer studies have shown that 38% of customers relate good customer experiences to personalization. Thus, it is critical to find ways to tread customers as individuals.
ll) Personalized Thank You Notes or Cards
Thank-you cards do more than express appreciation; writing personalized thank-you cards to customers provides an opportunity to show that you value them.
Thank you notes to a customer can have many benefits:
- Strengthen customer relations
- Set yourself apart from competitors
- A handwritten note provides a personal touch in an increasingly digital world.
- A note card is an extension of your style and brand.
Note: Thank you cards is another way to show your customer that you value them and it provides an opportunity to personalize the message.
Tips for Giving Written Thank You Messages:
- Keep your message short but memorable.
- Give your note soon after a purchase or event.
- Keep it positive and personalized.
- Do not try to sell additional products through your message.
- Ask the customer for feedback or to leave a review online.
lll) Showing Customer Appreciation Through Gifting
Customer gifting is friendly gesture businesses can implement year-round to show customers they are important and appreciated. Further, gift-giving strengthens interpersonal relationships and facilitates emotional connections between customers and brands.
- A recent survey found that 83% of consumers were more likely to purchase from a brand they had an emotional connection with. (Iterable)
- 80% of C-suite executives believe that corporate provides an ROI that is two-fold based on customer retention and repeat business
Consumer gifting goes beyond the usual “Thank you, come again!” and expresses genuine gratitude for choosing to buy from your business. Regular customers will view it as “going the extra mile” to show that their support for your business is cherished and will be more likely to repay your appreciation with loyalty.
Examples of when and how to giving gifts to your customers:
- Customer loyalty gifts: Gifting your regular customers sets you apart from competitors and reinforces emotional bonds with your regulars.
- Seasonal gifts: festive occasions provide opportunities to show appreciation to your customers through gifts.
- Gifts of apology: Giving gifts to customers when they have had a bad experience is a way of apologizing. It will help build up your brand image as a business that takes responsibility.
- Test Marketing Gifts: Giving customers samples or test marketing gifts shows appreciation and helps determine if there is demand or interest for a new product.
When gifting Customers, don’t forget to include a Call-to-Action (CTA) for feedback.
Gifting customers provides an opportunity to include a CTA requesting feedback (or online review). First, by asking for customer feedback, your clients feel their opinions matter and that their requests are heard. Second, the feedback is more likely to be construct, and reviews are more likely to be positive and lead to new customers.
Why Gratitude is Important
Remember, businesses that don’t express gratitude to their customers risk losing them to the competition. Customers that don’t feel valued and taken-care-of are more likely to switch brands.
- A study by the Rockefeller Corporation, 68% of the entire customer base leaves due to perceived indifference, which means they believe that companies don’t care about them
“A word of appreciation often can accomplish what nothing else could accomplish.” – B. C. Forbes
Expressing gratitude is essential for your business. Not only does it improve long-term profitability, but it also encourages word-of-mouth advertising and enhances customer loyalty. You can show your gratitude to customers in many ways, but the three methods outlined above will get you started. So don’t wait – start expressing gratitude to your customers today and see how they respond!
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