Workforce Management & Optimization

How to Update Your Customer Appreciation Strategies

In today’s business landscape, customers want to know you appreciate them. Here are cutting-edge strategies to help you improve your customer appreciation game.

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Whether you just acquired customers or you’ve been doing business with them for years, it’s important to let them know how much you value their business. Although a kind word or loyalty program used to be enough, today’s customers are sophisticated and have more options than before. As a result, customer service teams and marketing professionals are finding new ways to work together and help businesses recognize their most important partners: their customers. Here are emerging strategies that can help you develop more successful and impactful customer appreciation programs.

Use Machine Learning

All too often, businesses with an abundance of data—from behavioral information to customer relationship management (CRM) data—are unable to put that information to use. But as marketing and customer service technologies advance, organizations have found ways to pull the underlying data out of different systems and put them into a single system that makes it easier to use insights across the business. Machine learning can help you identify customers who should be receiving special attention. Perhaps they are approaching the anniversary of the first time you did business, or maybe they’re showing patterns of escalating their spending and giving you a larger wallet share. With machine learning and artificial intelligence (AI), it’s possible to find your most important customers—and make sure no valuable relationship goes unacknowledged.

Have Strategies for Different Demographics

If you have only one customer appreciation strategy in place, you’re missing an opportunity to effectively serve your different segments. Consider a company that has both Millennial and Baby Boomer customers. Does each group value the same information and benefits, delivered in the same way? Recently, a marketing manager told me that his younger users generally access the company’s products via mobile devices. As a result, he serves up ads and loyalty rewards to that demographic via mobile device and recognizes other customers through other methods. Your loyalty program needs to be as personalized as the other aspects of your marketing strategy.

Customer appreciation is a culture, not a program. One of the most important customer loyalty trends is shifting your corporate mind-set. If customer appreciation or recognition is something you’re only doing periodically or once a year, you may be missing an opportunity. Today’s leading customer experience businesses weave customer recognition throughout their customer experience. In an environment where customers evaluate your performance at every touch point, vetting recognition and rewards throughout the customer journey can pay dividends.

Don’t just invest in acquiring new customers. Take the time to update your appreciation strategies. Not only will this help you retain existing customers, but it will also make it easier to deepen the relationship and reap profitable long-term results.