Young african-american woman shaking hands in a business interview

This Thanksgiving, Show Your Customers Your Appreciation

Small business owners are adept at balancing delicate cash flows,
ensuring they wisely spend every penny going out the door. With the holidays
approaching, it’s only natural to wonder if the money spent on special customer
appreciation efforts is worth it relative to other critical areas of the
business.

The short answer is—yes!  Before
we begin to talk about “how” to show customer appreciation this Thanksgiving,
it might be wise to focus first on “why” you should.

Customers are more devoted to companies that invest in appreciating
them. Because you are striving to provide more value to them, they are willing
to reciprocate by giving you more loyalty. That equates to spending more, and
they may even be happy to advocate for you proactively. Consider these facts:

●      Good customers spend five times more per
order than average ones

●      They make four times more purchases

●      They are worth 30 times more over their
lifetime value

Forbes reports that just a 5%
increase in customer retention can result in a 75% increase in profits. Check
this site out for more helpful statistics related to customer
loyalty, and then, let’s get started appreciating those profit-minded
customers.

To get the kind of loyalty that results in profit increases, a company
should make customer appreciation a consistent mindset that’s maintained over
time. Especially as we approach Thanksgiving, now is a perfect time to start
implementing an engaging customer appreciation strategy.

All customers aren’t
created equally

Before you launch into your Thanksgiving customer appreciation tactics,
you will want to put the most focus on your most valuable customers. Start by
identifying the 20% of your customer base that is contributing to the majority
of your revenue. Find those customers and give them extra attention on them
this holiday.

With this approach, you can stretch your dollars to have the most impact
on a healthy bottom line for your business.

Start the holiday
gift-giving early

Just about everyone appreciates receiving a gift. The more personal you
can be with your corporate gifts, the more significant the impact they will
have. For your top customers, take the time to find gifts that will be
reflective of their interests. Conversely, curated items that are related to
your company can also be impactful. For example, a gift basket, featuring items
native to your city or state of operation, shows you care enough to make a
personal connection.

Make sure you understand your clients’ gift-receiving rules. For
instance, some don’t allow them at all (eg., government employees), while
others limit the cash value of the gift their employees can accept.

Display generosity

Some companies have found, much to their dismay, that their holiday
customer appreciation gifts have had an unintended effect. The old saying, “you
can’t please everyone” is, unfortunately, frequently true. Gift-giving, being
somewhat relative to the receiver, can be perceived as too much or not enough,
too impersonal, or not sufficiently customized.

Some small businesses have solved this dilemma by donating to a charity
instead. You can offer to donate to your customer’s charity, notify clients
that you’ve made a group donation in honor of them, or give them a choice of a
few charities to which you will contribute instead of a material item. This
type of customer appreciation “gift-giving” has become more and more
popular, particularly among millennials who place a high value on corporate
responsibility.

Host an event

While the December holidays are typically a busy social time for
everyone, Thanksgiving offers a more laid-back opportunity to host an event.
Happy hours, dinners, and parties held at the corporate office are popular or,
you can be more creative with niche activities. Again, the more you know about
your customer base, the better able you’ll be able to plan a well-received
event.

The best events are casual and relaxed and, depending on your company
culture, may or may not mix customers and employees. It’s a nice touch to allow
customers to bring family or friends to make it a more comfortable and
enjoyable experience. Company-branded items can be on hand, or you can offer
more expensive door prizes as a festive touch.

Add value

As they say, actions speak louder than words. Customer loyalty often
takes more than words; it requires actual value like rewards, discounts, and
exclusive or free offers, such as—

●      Free month of a service or subscription

●      A sample of a brand new product

●      Product upgrade, enhancement or accessory

●      A discount on an invoice

Thanksgiving is an excellent time to offer these types of thank you
gestures to your top customer base.

Stand out from the
pack

Whether your company decides to send gifts, notify customers about a charitable contribution, award event prizes, or make added-value product offers, you can tie it all up in a unique way with creative packaging. This Thanksgiving, why not contact the packaging services experts at Ohio Valley Goodwill’s Industrial Services Division for your seasonal packaging in Cincinnati?

We specialize in providing packaging services to companies in the
Greater Cincinnati area, and all work is meticulously handled from start to
finish. That’s because our packaging services are performed by a team of
motivated employees who can produce high-quality, customized packaging on time
and very often, under budget. Our business development professionals will work
with you to create a plan that’s right for your business needs, whether you’re
looking for seasonal contract labor or a more long-term solution.

Most importantly, the businesses that partner with Goodwill support our mission to provide meaningful employment to individuals with disabilities and veterans in the Greater Cincinnati area. To learn more about our Cincinnati packaging services—or any of our logistics services—contact us today and receive a complimentary tour of our facilities.

MENU