A simple “Thank You” goes a long way…
There is a lot of noise around loyalty with businesses struggling to accurately define what their loyalty strategy should be. I have always believed that loyalty is an output that cannot simply be “created”. As with our personal lives, loyalty must be earned and to do so in a business environment requires the following 3 key components to deliver a successful consumer proposition:
1) Quality of your product/service
2) Value of your product/service
3) Valued, added benefits for buying your product/service
A business has direct control and responsibility for delivering quality and value, and often they are happy delivering only that. In the past this may have worked. However, in today’s world the modern the consumer expects and demands more for their custom. Failure to realise this can be hugely damaging to your business prospects, enabling your competitors to capitalise on your weakness by poaching your hard-earned customers and diverting new customers away from you. The outcome is a prolonged increase in (the dreaded) customer “CHURN”.
For the first time in market, WowThanks presents businesses with the most powerful tool to address this crucial 3rd component. We combine best in class technology with the most in demand consumer brands that will appeal to your customers – every time. WowThanks clients can tailor each campaign to best fit their market and importantly provide consumers with an appealing selection of Digital Gift Codes that they will value. In doing so we dramatically boost our client’s overall proposition which improves new business acquisition, customer retention and also their Net Promotor Score. Everything is also measurable using WowThanks – a crucial element in understanding the effectiveness of your campaigns.
By investing what can be only a fraction of the value of your individual customer business, your return on investment (ROI) will be significant. With WowThanks you only pay for the Digital Gift Cards that are generated – a truly unique commercial solution that saves its clients significant money traditionally lost by using traditional Gift Card providers who retain this element of your spend.
Offering your customers a reward for their custom adds real value to your customer’s relationship. It significantly reduces the risk that they will take their business elsewhere. Indeed, it increases the likelihood that they will purchase further goods and services and refer friends and family through positive word of mouth.
In doing so, you are essentially saying “Thank You” for their business – a simple, frequently overlooked gesture that customers appreciate greatly. By supplementing the quality and value within your core product or service with meaningful benefits, you earn your customers’ loyalty. Not created artificially, but earned organically…
The above methodology is equally transferable to the area of Employee Engagement where the same principles apply. Attract new talent, retain existing talent and improve morale by being generous and appealing to people’s humanity. Delivering more value and showing you care will generate genuine loyalty among your teams.
The secret of WowThanks is all in our name – say Thanks and get Thanks back from the most important assets of any business – your customers and employees!