There are a number of ways to assure repeat business with steady clients. Of course the most important way is to provide a great product, extraordinary service, and outstanding customer support, but your competitors likely provide equal service. Client loyalty programs are an additional way to show clients exactly how much you appreciate them. Not only do client loyalty programs show your appreciation and differentiate your company from the competition, they also allow you to gather insight into customer needs and receive recommendations for new clients.
What Are Client Loyalty Programs?
Client loyalty programs provide incentive rewards for repeat business from return customers. The program can be as simple as a card for a holiday or birthday or can be as extravagant as an all expense paid vacation to an exotic locale. Typically, the reward will fall somewhere in the middle as perhaps a gift card to a local restaurant, the client's gift choice from a merchandise catalog, or discount credits toward the services they use from your company. Regardless of how you choose to reward your client, they will appreciate your thoughtfulness and be motivated to continue working with your company with their current and future contracts.[ezcol_1half]
How to Incorporate Client Rewards
There are different ways to incorporate client loyalty programs, some of which are more efficient than others. Your salesmen can offer awards as an incentive and part of the sales pitch each time your company approaches the client, or an account manager can provide awards at the finalization of a transaction. Better yet, someone independent of the process can determine a level of importance each client provides your company using algorithms to determine what award is appropriate for each client.
Why Clients Enjoy Rewards
Clients enjoy your client loyalty programs for more reasons than you may realize. Of course they appreciate your acknowledgment of the importance their repeat business offers your company, but there are ways to provide more value to a customer through rewards than what it costs your company to provide them. Offering discount credits for your own services makes the client feel they're getting an extra value. A simple gift card can often be negotiated in a way in which you pay less than its value to the client. All told, the ongoing business transactions are going to be valuable enough to your company to provide your client with a reward for their loyalty and repeat business.
Ultimately, a client is going to stay with you if they're happy with the service you provide. No matter what business you're in, competitors provide the same service or equivalent product. Client loyalty programs make you stand out as a company who really makes it worthwhile to do business with you.