Saying thanks is something most of us take for granted because it’s so simple to do. Or is it? Data from recent engagements indicates that …

  1. just because it is simple doesn’t mean it is done (or done well)
  2. not doing it can mean a big loss in short- and long-term revenue

 

PERCENTAGE OF CUSTOMERS WHO WILL RETURN

%

Customers stating their business was appreciated

%

Customers stating their business was not appreciated

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Whilst correlation is not causation, we have seen plenty of data showing the relationship between customer retention and customers feeling appreciated. And a poor showing of appreciation has been related to a transaction-focused business – just getting customers in and out – rather than a business focusing on providing the ingredients of a relationship.

The ingredients for Relationship Commerce are not mysterious or difficult. Speaking to customers about what they expect in terms of appreciation from a business indicates specific actions:

  1. sincerity – is personalized, letting customers know you know them
  2. warmth – kindness in the words, the tone, with genuine sincerity
  3. follow-up – reinforcing the appreciation provided in-person with a brief message or call from the business

Business operators will all tell you they want to build and nurture relationships with customers. Watching how a business’s people show their appreciation to customers provides a strong understanding of the depth of that businesses’ customer focus—and perhaps even long-term profitability.

Thank you 😉 for reading!