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Business Unplugged™
This blog features Carol Roth's tough love on business and entrepreneurship, as well as insights from Carol's community of contributors.

A Santa Strategy to Reward Loyal Customers & Get New Customers

Written By: Carol Roth | Comments Off on A Santa Strategy to Reward Loyal Customers & Get New Customers

RewardsIt’s hard to believe that we are headed into the holiday season again, a season which seems to arrive earlier each year.  Now is the perfect time to plan for the holidays by strategizing on how you can use the season to show your appreciation for your loyal customers.

In that vein, I wanted to offer up a tactic that you can use to reward your existing customers and potentially garner new customers as well: the double holiday gift.

Consider sending two gifts to your best clients and customers.  One is for them and one is for them to “re-gift” to a friend, colleague or business associate.  For example, I suggested to a cleaning service that they distribute not only beautifully packaged samples of their branded cleaning supplies with a gift certificate for $20 off the next cleaning to their customers, but to make up a second one with a note that says something like:

“Here’s a gift to show our appreciation for you and another to share with someone that you appreciate too.  Spoil your favorite friend or business associate, or just use it as an excuse to not have to go to the mall.”

So now, you not only reward a loyal customer, but you save them from having to buy a gift for someone else.  Plus, this gift introduces the products and services to a new potential customer.  This creates a win-win scenario all around.

This tactic can be used whether you provide products as noted above or services.  For the latter, create a service that you can offer a gift certificate for.  If you are a massage therapist, it can be a free 15-minute session or an upgrade. If you are an accountant, it could be a free tax planning assessment.  Whatever it is:

  • Have fun with it
  • Make it valuable (but not too valuable)
  • Create an easy path to redemption

It’s that easy, so start getting in the holiday spirit now!

What are your suggestions for ways to reward customers and land new ones?

Article written by
Carol Roth is a former investment banker, entrepreneur and author of the new book, The War on Small Business and the New York Times bestselling book, The Entrepreneur Equation. Twitter: @CarolJSRoth