Customer appreciation can be defined as a measure of a company’s efforts towards its customers. It’s a proactive approach to engage customers and show them that you care about them and you are grateful for their business. Thus, customer appreciation initiatives are mostly aimed at existing customers. Having a solid customer appreciation strategy in place is the foundation of increasing client satisfaction, building customer loyalty, and improving customer retention.
Companies that don’t value their customers risk losing them to the competition. As customers that don’t feel appreciated and well-taken-care-of are more likely to switch brands. In fact, the Rockefeller Corporation study found that 68% of customers leave due to perceived indifference. This basically means they believe that companies don’t care about them – comparing to only 14% that leave because of product or service dissatisfaction.
On the other hand, developing and implementing an effective client appreciation strategy may become a critical success factor for a business. Companies that have more satisfied customers enjoy improved customer loyalty and retention. Considering that loyal customers buy 90% more often and spend 60% more per transaction, according to the Rosetta Consulting survey – it ultimately results in increased business profitability. A study by Andy Fred Wali and Bright C Opara also revealed that a customer appreciation strategy influences customer loyalty and advocacy, which leads to increased sales growth.
The language, businesses use in their communication with customers makes a big difference in customers’ perception. There are many different ways to use language to express gratitude to clients. Here are some of the most fundamental phases and wordings to remember:
According to a ClickFox survey, 62% of consumers don’t believe that the brands they’re loyal to are rewarding them enough. There are many different ways, both simple and creative, a brand can make customers feel like it cares about them.
Investing the time and resources into customer appreciation initiatives and regularly expressing gratitude to customers has couple benefits. It can significantly deepen customer relationships, increase satisfaction, improve customer loyalty, and encourage brand advocacy. Whatever customer appreciation ideas a business chooses to implement, there are a couple of things to always remember. Every attempt at giving thanks to customers must be relevant, valuable, noticeable, sincere, and preferably personalized.
These 5 client appreciation quotes demonstrate the importance of caring about customers and showing appreciation:
“A word of appreciation often can accomplish what nothing else could accomplish.”
B. C. Forbes
“Revolve your world around the customer and more customers will revolve around you.”
“Customers don’t care how much you know unless they know how much you care.”
“Customers are like teeth. If you don’t take care of them they go away one by one until there are none.”
“It’s easier to love a brand when the brand loves you back.”
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