It is an exciting time to live in as we bear witness to a compelling cluster of startups cropping up. It will be interesting to see how a corporate gifting firm and a startup can benefit from one another to drive sales and grow revenue.
Businesses should have a "must-have" and not a "nice to have" approach in customer success management. However, the crunch in funding for most startups puts customer success in the backseat. According to research papers by Bain & Company; The cost of retaining a customer will not only increase your profit but also help in cutting down your operating expenses. Studies have shown that acquiring a new customer is five times more than retaining an old customer.
As a lot of effort goes into bringing customers on board, the same or an equally passionate approach lacks in retaining the same customer. As a corporate gifting firm, we can help companies forge a lucrative relationship with their existing and new customer base. Some of the payoffs for utilising corporate gifting among existing and new customers can be as follows;
Increased customer retention
More opportunities for upselling
Helps reduce churn
Gifting can also help drive customer engagement.
In today's rising digital world, strictly relying on digital means may not give you the results due to intense competition. How do you go the extra mile and ensure customer retention then? There are many ways in which you can show your customers you care.
Let corporate gifting pave the path for you.
Welcoming new customers with a gift sends across a strong message that you are excited to have them on board. Adding a personalised note to that gift takes it to an all-new level.
Gifts should not be earmarked only for new customers. Let's not forget that every relationship needs nurturing.
Celebrate small and landmark customer successes because it's all about nurturing partnerships by showing your support and sending a celebratory goodie bag.
Seasonal holidays can also be a good time to show customer appreciation. Well-planned seasonal holiday gifts can delight your customers.
Corporate gifting can hugely benefit your interactions and relationships with your customer base. It is never too late to use gifting as a customer success tool, and we at The Lush Box can help you achieve your goals.