Most companies understand the need to keep their customers happy in order to enjoy repeat company. Many, however, might be surprised to learn that more than two thirds of customers discontinue using a company because they felt under-appreciated or believed that the company was indifferent to them.
Customer appreciation is about making customers feel that a company cares about them, values their custom and appreciates it. It is a marketing strategy that is typically implemented by rewarding loyal customers. An appreciation strategy not only keeps existing customers, but can also be used to attract new ones because of the customer loyalty it engenders and the word-of-mouth advocacy of satisfied customers. Showing that customers are appreciated is a measure of a company’s focus on its customers and reflects a proactive approach to customer engagement that can often make a big difference in a company’s bottom line