I’m a relatively normal human being, but when I see one of those, “for new customers only” discount offers for a business or product that I have been a loyal, PAYING customer of for years, I turn into The Hulk.
I know my full-price, no-discount-for-loyal-customers-money paid for that discount ad!
Shouldn’t I be rewarded for being a loyal customer? (FYI, there is only one correct answer to that question).
When do I get MY discount service, free month, free meal, or whatever? When can I get a discount on the services or products I purchase as a current customer?
When I become some other business’s new customer? Sometimes that seems to be the only option. (Cable and phone companies – you’ve been warned!)
As you are running your business, you always think about attracting new customers. But what are you losing when you only offer a discount to new customers?
Customers! The loyal customers who believed in you, or took a chance on you and continue to support your business.
This company is celebrating their 40th anniversary by ignoring the customers who helped them stay in business for FOUR DECADES.
It’s in my DNA to wonder “WHY?” when I see missed opportunities that are that obvious. Like telling the new customers how to find you. Did you notice that this 40-year old business left out something important? No business name, logo, website or phone number in the ad! I’m sure there had to be some text that accompanied this ad, but I couldn’t find any. So, always put those important elements into your graphics.
I’m also curious why they are offering a 33% discount instead of 40%, but hey, I’m sentimental and like round numbers. Oh, and isn’t it kind of obvious? Maybe it’s just me.
Sometimes when you’re the business owner making those choices you’re looking at the impact to your bottom line instead of if you can make a lasting, positive impact on the people who interact with your business. That kind of focus will give your business something that will raise you up and separate you from other businesses – a heart.
Yup, I know it seems too “soft,” too “woo-woo-Oprah-Super-Soul-Sunday.” But I promise you when you think about what your current customer would love, new customers will want to be one, and your sales will BLOW UP! (How’s that? More businessy?)
I think the graphic in this company’s ad perfectly illustrates how their current customers feel when they call the plumbing company they’ve been loyal to for years, and they offer them a full-price bill, instead of living up to their name.
It is a pretty well-known fact that keeping a customer is less expensive – and brings you more profit – than gaining a new one. Yet, many businesses don’t get how important is to treat current customers as well as – or better than – potential customers.
So, what can you do to make a current, loyal customer’s day, week, month or year?
Here are a few ideas:
- Free month of service – you could offer this in almost any business that has customers paying on a monthly basis. This might work well for gyms or fitness studios, membership sites, pest control businesses, etc. I sure wish the electric company would offer this one in July!
- Bonus service or item – This is a good one for ANY business. For example, if you are a nail salon, you could offer a free manicure to existing customers in a month that is typically your slow month. That would increase the buzz about your business, and referrals from those THRILLED customers to their friends and family, thus generating new loyal customers! (LOVE It when I can use the word “thus.”) I used to go to a nail salon in my NYC neighborhood every 2 weeks. They offered a free manicure in the month of your birthday if you gave them your email address. I loved it. Even a medical or dental practice could offer this one!
- Extra time – this could be a good one if you are a therapist, business coach, tutor, etc. – anything where people are basically purchasing your expertise.
As I mentioned above, when you offer a bonus or treat to your current customers as a way of honoring and thanking them, you’re showing them that you recognize their investment in your business, how important they are to you, and that you are invested in their happiness. That’s HUGE and that will translate into growth for your bottom line and your business.
Here’s your assignment, if you choose to have a business that thrives:
- Brainstorm with a Clientologist (Definition: Specialist who knows how to uncover the needs, wants, and hopes of your clients or customers. Aka Me!)
- Narrow your choices down to 2 small, simple ways to honor your current customers
- Ask 3 of your favorite customers which option they would love
- Give it to them and all your other loyal customers
- Prepare for great things to happen in your business!
If you want to avoid wasting money and time on the WRONG thing, email me to set up a complimentary “BAM!” (avoid a Big A$$ Mistake) call. Tell me what you are considering giving your customers and who they are. I’ll share their point of view (it’s usually not what you think it is!), and why it is or isn’t the right thing for your unique customer and business.