Considering that loyal customers buy 90% more often and spend 60% more per transaction, according to the Rosetta Consulting survey – it ultimately results in increased business profitability. Companies that have more satisfied customers enjoy improved customer loyalty and retention. On the other hand, developing and implementing an effective client appreciation strategy may become a critical success factor. The Rockefeller Corporation study found that 68% of the entire customer base leaves due to perceived indifference, which means they believe that companies don’t care about them – compared to only 14% leaving because of product or service dissatisfaction. Improving customer retention Customer appreciation example Why is customer appreciation important?Ĭompanies that don’t value their customers risk losing them to the competition, as customers that don’t feel appreciated and well-taken-care-of are more likely to churn.Having a solid customer appreciation strategy in place is the foundation of Thus, customer appreciation initiatives are mainly aimed at existing customers.
It’s a proactive approach to engage customers and show them that you care about them and are grateful for their business. Customer appreciation can be defined as a measure of a company’s efforts towards its customers.
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