Two concepts that are increasingly gaining attention from businesses were discussed by American Printer, a resource for professionals interested in business trends, technical innovations, and strategies for raising productivity and profitability. These two concepts are LTV (Life Time Value) and CRM (Customer Relationship Management).
The main reason for the increased interest is that companies commonly experience a 20-50% revenue loss annually due to customer defections. Before, companies tried to remedy this by directing their efforts towards gaining more new clients, but this turned out to be just an attempt to outrun the problem instead of facing it.
A crucial part of any business is gaining clients and retaining them. Why is client retention important? Because approximately 20% of your current customers will contribute 80% of your future revenue.
Sometimes, clients may depart from your business for different reasons. The good news is that you can recover them. 1to1 Media highlighted five steps towards recovering lost clients.
As the world gave way to instant messaging and e-mails, the practice of sending lovingly crafted cards and letters is slowly fading to become part of an older world, where vinyl records and vintage cars belong. With the influx of emails and texts a person receives every day, it’s not surprising that most people nowadays feel excited about the idea of receiving customized greeting cards.
Hand-written letters and greeting cards could be considered as art forms, and if you think about it, they are the most personal kind of communication after face-to-face interaction. The ink flows from the pen, fingerprints are left on paper, and writers forgo spontaneity for carefully composed lines and phrases. The thought that a tangible object can travel from your hands to another’s is touching, and in this modern age, almost quixotic.
As the author Haruki Murakami once wrote, “How wonderful it is to be able to write someone a letter! To feel like conveying your thoughts to a person, to sit at your desk and pick up a pen, to put your thoughts into words like this is truly marvelous.” Receiving a written note is made more precious because it has become a rarity. Now, sending a physical card or letter may take more time and effort, but it also tells clients, friends, and loved ones how important they are to you, and how much you value them.
Retirement marks the end of a person’s long years of hard work. It’s a time for these people to reflect on the ups and downs of their workings years. It is also the time that stamps the beginning of more restful and serene days. A business that has established a loyal core of customers over the years could have nurtured slightly personal relationship with its customers, with many of them already treated like family. As a company owner, it’s a great opportunity to show your customers you care when you share that occasion with them through a special corporate greeting card.
Crafting a special message for your customers reaching retirement shows more than just goodwill and well-wishes for the next chapter of their life, but it also express your deep appreciation for their long and loyal patronage. It makes a difference to the customers when a company opens up to them in a personal way, while maintaining their professional stance.
Translating information into actual retirement messages works best when you create an angle. However, avoid the rather common “Best wishes” greetings. You can craft your message into words that acknowledge their hard work and, steering into a message of how their own loyalty to their company has continued to the well-being of both. Whatever the message, stay close to the personal.
Retirement isn’t all about driving into the sunset and starting off on some real peace and quiet, but it could be—with good attitude and appreciation from within and without. A special greeting card from a company that pays tribute to a customer reaching retirement age could be every bit as valued as one coming from a loved one.
The art of letter writing has been slowly dying ever since the dawn of online communication, and while sending e-mails or texts is less time-consuming and convenient, it lacks the personal touch of a physical handwritten note. Words displayed on a computer screen can never replace beautiful thank you for your business cards, especially if they’re tailor-made to the letter sender’s preferences. If anything, the rising popularity of digital communication has made mailed cards rarer, and therefore they’ve become much more valued and cherished.
While pre-printed cards are cheaper, sending out customized business greeting cards sends the message that you value your clients enough to invest in them. It is also a good time to make your company standout by adding your logo or any graphics that reflect the culture of your company.
Aside from the visual, you should also consider writing a short and unique greeting or adding in a handwritten signature. Doing this will show your clients that you don’t mind taking the time to make them feel important which they will surely appreciate.
Although you want to get into the spirit of things by giving out beautiful greeting cards, never forget that some holidays aren’t holidays for everyone.
Consider Christmas. While most Americans celebrate this holiday, others don’t for religious, cultural, or personal reasons. For these people, a Christmas greeting card may be considered insensitive. If you can, get to know your customers on a more personal level to avoid such faux pas. You may also want to craft your cards with a neutral theme, both in design and message. Continue reading
Maintaining customer connection through corporate greeting cards might seem easy— get a designer, know the address, have the cards delivered, and voila! You’re on top of your customers’ minds.
Sadly, the reality is not as simple as you might think. One error can put your customers off, and create a negative opinion of you. Here are some mistakes to avoid: Continue reading
How powerful is a simple “Thank you”?
More powerful than you might have thought. A recent study by University of New South Wales in Australia psychology professor Lisa Williams, and Gonzaga University assistant psychology professor Monica Bartlett showed that expressing gratitude to someone could encourage that person to help you with your needs.
As the authors say in their paper’s abstract: “In line with the proposed find function of gratitude expressions, recipients of expressions of gratitude were more likely to extend the effort to continue the relationship with the novel peer by providing that peer with a means to contact them.”
Simply said, by saying ‘thank you’ to someone, you are opening the door for future interaction, as the recipient becomes more open to providing you with the means for future contact, such as by giving their email addresses, phone numbers, etc.