Increase Client Retention with Custom Gifts

Once we gain a client, we want to keep that client, right? For some businesses, this isn’t always the easiest thing. It takes strategy, organization and drive to manage these relationships to ensure that your client comes back to you time and time again.

According to the Harvard Business School, increasing customer retention rates by 5 percent increases profits by 25 percent to 95 percent. Even the lower end of that number is considerable, and well worth striving for.

There are a number of strategies for retaining clients, and one of the most important ones is reciprocity.

What is reciprocity?

It’s the idea that when you get, you should also give back. This idea works wonders in the business world. Go above and beyond for your clients and the likelihood of them coming back to you is much greater.

Gestures that showcase reciprocity can be unexpected or habitual. If you’ve been doing the same thing year after year, your customer will get accustomed to it. For instance, if they’ve received a holiday gift from you for 2 years and for whatever reason they don’t in year 3, they may think twice about coming back to you for their next project. It’s important to keep that in mind every time you send out a gift; leaving a customer off your list sends them a message, as does including them.

If you go the unexpected route and send a great gift “just because,” your customer is going to be surprised and impressed, greatly increasing the likelihood that they’ll return to you. For example, a thank you gift for an order, even if it’s just a small token, reminds the client of what you do, and sends a strong message that you appreciate their loyalty and their business.

Of course, the act of being reciprocal comes with a price. This is when ROI (return on investment) comes into play. When you’re going that extra mile, you’re also doing that with a bit of extra cost. Without that investment, though, the opportunity for greater return will not be as likely.

Facts + Figures

• On average, loyal customers are worth up to 10 times as much as their first purchase.

Source: White House Office of Consumer Affairs

• It is 6-7 times more expensive to acquire a new customer than it is to keep a current one.

Source: White House Office of Consumer Affairs

• 70% of buying experiences are based on how the customer feels they are being treated.

Source: McKinsey

• “People want this level of engagement from the companies with which they do business…even the best of what formerly passed for good customer service is no longer enough. You have to be no less than a customer concierge, doing everything you can to make every one of your customers feel acknowledged, appreciated, and heard. You have to make them feel special…and you need to make people who aren’t your customers wish they were.”

Source: Gary Vaynerchuk, “The Thank You Economy”

• “Always do more than is required of you.”

Source: General George S. Patton

Custom Gifts as Your Solution for a Client Reciprocity Strategy

Custom Gifts are unique products that can be proprietary items, created and tailored to your specific brand. At Arrow Promotional we can design a one-of-a-kind promotional product especially for you. Bring us a germ of a notion or a full-scale brainstorm and we’ll make it happen!

With more than 50 years of experience, we have found our niche in conceiving and executing promotional and marketing products designed precisely to our customers’ specifications and business needs. Additionally, we can provide custom packaging – making your product completely yours from soup-to-nuts.

Our sales and design staff­ work closely–and quickly, if necessary–with our clients to bring product ideas to fruition. We understand how crucial it is to stand out from the crowd, whether your statement is sophisticated and subtle, dramatic and daring, or fun and festive. The only limits are imagination and your budget.

Occasions for Sending Custom Gifts