We at South Paw Canada want to help you make your business the best it can be. An important part of any business is creating and maintaining good relationships with your clients. While it’s always good to attract new clients, strengthening your relationships with existing clients is just as important. Retaining existing clients provides a high return on investment–bringing on a new client is estimated to be anywhere from 5 to 25 times more expensive than retaining an existing one. Similarly, financial experts estimate that increasing client retention by just 5% can increase profits by 25%. A powerful tool for maintaining good relationships with your clients is showing gratitude and appreciation, especially in the form of client appreciation gifts.
In a 2013 survey by Citrus and Directivity, 67% of responders said that surprise client appreciation gifts were very important for customer loyalty programs. While a gift can feel empty if the appreciation behind it feels false or empty, a sincere, thoughtful gift is a great way to show gratitude for your clients’ support. Client appreciation gifts are a proven part of successful client retention programs. Giving client appreciation gifts is effective both because it makes your clients happy in the moment, and also because it fosters reciprocity–showing your clients that you value them makes them more likely to patronize you again.
At South Paw Canada, our experienced team can help you select client appreciation gifts that your client base will truly appreciate. Come consult with our experts to choose a gift that will truly impress your clients.