Did anyone else happen to see the article in the Money section of today’s USA Today about banks offering credit card perks to only their clients ?
It’s about time that an institution took care of those who already give them business, rather than offering the biggest incentives to new customers.
I wish all businesses/banks would do this. I have no problem getting less of a discount than a current customer. And I have a big problem when my cell phone carrier offers some shmoe a deal for $20 less per month than I’m paying, when I’ve been a loyal customer for 1o + years.
I’ve paid you well over $25,000 in those 10 years and you want me to pay more per month than somebody who’s gonna jump ship for $5 a month when they get a chance at a better deal ?
My bank constantly ( monthly ) sends me a postcard offering me $75 if I’ll just use Direct Deposit. That’s all well and good, except I took advantage of that over 2 years ago. And you only gave me $50. Either quit mailing me the damn postcards or give me another $25 !
It’s high time that ALL businesses wise up and take care of CURRENT customers. Why ?
1) We have no acquisition cost
2) We’ve shown loyaly, even thru your worst of times
3) We’ve probably trained half your employees … you sure don’t !
Now show us the good times ! Show us some loyalty !
Here’s what I want to see out front of a business/bank tomorrow – a sign that says :
Make sure that I, as a current customer, feel like you want my business more than you want new business and you’ll mine gold that’s nearer the surface than what you’re diggin’ for now.
Help me out here, somebody jump in and add to this conversation.
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{ 2 comments… read them below or add one }
Hey Mike,
To me the shame here isn’t the loyalty factor. It’s that every business person knows it’s easier to upsell an existing customer. Easier and cheaper. Period. From that standpoint I’m constantly surprised at these initiatives.
But get a GROUP of marketing folks in one room and the aroma of new customers hypnotizes.
As a consumer you can’t expect loyalty anymore.
I agree with you Brandon, but it’s hard to believe that they actually do know that it’s easier to upsell or resell an existing customer.
I think the average business person doesn’t really have a clue about the goldmine in their current customers.
They’ve been brainwashed into believing that they need new customers every day or they’ll go under.
Most businesses have enough customers, but not enough sales accumen to take advantage of the situation.