The quest for new customers among businesses of all sizes is the thirst that never gets quenched.
You’ve probably seen the adverts on TV and in newspapers that contain amazing promotions for new customers only.
By the time you finish reading this post, you’ll have a clearer understanding of how your current loyal customers view your attempts at giving special offers to new ones.
- What discounts have they ever offered me?
You’ve probably seen online promotions offering huge discounts with a code to enter at the checkout. The trouble is it’s often only redeemable by new customers.
Offering a large incentive is a good way to get attention and will get you new customers but at what price?
How would you feel if you’d been a customer of the same bank for 25 years and had never had any incentives only to find they were offering £200 to every new savings account holder?
- Does my loyal custom count for nothing?
Being ignored by a business you’ve been loyal to for many years can feel like a personal rejection in many ways.
In just about every industry sector there is competition. Ignoring the customers who’ve helped you build a business or get it off the ground can result in you having to start again from square one every so often.
- I’ll think twice before using them again
Who can blame a customer for having second thoughts about staying loyal if you treat them shabbily? For example, many small business owners use social coupon sites like LivingSocial and Groupon to offer large discounts to new customers only.
Let’s say you’re a hairdressing salon with a loyal client base; how do you think a long-term client would feel having paid full price for your services for years, only to find you’re offering 70% off to people who’ve never even been to your salon before?
No business can afford to put doubts in the minds of their most loyal customers.
While it’s true you can run your business any way you see fit, it’s also true that your clients will vote with their feet or a click of a mouse if you show you don’t value them.