The Power of “Thank You” for Customer Retention

I recently received a personal phone call from a Wachovia bank representative. In her voicemail message she said she was calling me to simply “thank me” for my business. She assured me that if I had any immediate needs to contact her and they’d be happy to take care of it. It was a simple call but very effective for several reasons:

  • It was a phone call. There was a live person on the other end and she was thanking me for my business – personally. This is more valuable than a standard thank you card, bulk email, or other non-personal communication
  • It was non promotional. Just a simple thank you. We appreciate your business. If we can serve you better,… They could have easily put in a promotion for a new interest rate or investment product they have available as a presumed benefit but I appreciated the fact that they did not
  • It was friendly and made me feel important and appreciated

In safeguarding your business during a recession, I suggest thanking customers during economically shifting times as customer retention — defending the customers that are yours – is vital to sustaining business activity.

So, consider taking time to personally thank your most important customers — heck, thank ALL of your customers if you can. Your business will then thank you for it!

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