Loyalty Rewards

How to Reward Loyalty

How to reward loyalty is something that often gets thought about and then completely forgotten by many small business owners.

 

Loyalty Rewards
Do you have the key?

 

Through putting a good Relationship Marketing Strategy in place, as detailed in my Relationship Marketing Challenge, you should find yourself in the position of having lots of repeat business and referrals coming in from your happy customers and networking associates. Once you have this untapped flow of leads the one thing you must not do is take its source for granted.

Have you thought about what will happen if these same people refer business to you again and again but never hear that you were pleased to receive their referral or given the courtesy of knowing if their referral(s) did, indeed, place business with you. If they find out that they have and they haven’t heard from you, how do you think that will make them feel? There is a good chance they will stop passing business your way!

It is also important not to overlook those who are providing you with leads/business via any networking groups you attend. You may have received referrals through networking contacts that you have formed relationships with over time, who have never used your service, but have recommended you to people that they know having found out more about your business and feeling comfortable enough to recommend you. Do you think that they will keep referring you if you don’t thank/reward them for these FREE referrals even in a small way? If you have not considered using their service to date, perhaps this is something you should consider doing too.

VIP Events

How about holding an annual VIP event for your best customers and networkers who refer business to you? Think of something novel and different which will really encourage people to want to attend. You could launch a new product or re-launch a product at the event too and/or present gifts to your top introducers. Take lots of pictures and publicise the event via social media (tagging attendees) which will, no doubt, peak lots of interest from those who know your business already along with people who weren’t aware of it before. If it looks fun to attend and exclusive and word gets out as to the criteria for being invited you will be surprised at how many people you know suddenly start introducing business to you!

So what’s stopping you organising one of these events? If this is something you decide to do, I would love to hear how you get on. Do come back after arranging it and comment below.

Nicky @NickyClaydon