Has this question ever plagued your mind?
“How am I supposed to have time and energy to create video content, maintain a blog, record a podcast, post photos on Instagram, AND still effectively run my business?”
Don’t worry, there’s a fairly simple solution.
In this fast evolving “Thank You” economy, attention is the most scarce currency.
“Thank You Economy”, a term coined by Gary Vee in his book by the same title, acknowledges that we have gone into a different era of business. One in which the companies that see the biggest returns won’t be the ones that can throw the most money at an advertising campaign, but will be those that can prove they care about their customers more than anyone else.
Every business is competing for the consumer’s attention on every platform available and pandering to their every sense:
- “Be visual. Use Video, it’s the future.”
- “If you don’t have a podcast, get one. Everyone has one. Let them hear you.”
- “Start and maintain a blog and do content marketing.”
- “Post pictures that tell stories about your brand”
Who writes these rules?
These tasks take a considerable amount of time away from your business and most importantly, your clients. Coming up with content ideas, drafting and putting them all together, recording, editing, coming up with the right branding, figuring out the best day and time to post, copywriting, and then figuring out how to beat the algorithm that feels like it is working against you so people can actually see the content on their feed. EXHAUSTING!
This is what businesses are being advised to do in order to survive in today’s “Thank You” economy.
What part of that is actively saying “Thank You” to your consumer?
If done incorrectly, the aforementioned content can take the message of “thank you” and can be turned into a message that is the vinegar to your growing grass. “Me, me, me. Look at me.”
We should all be aboard the SS Thank You here. However, what does your business do to elicit and deserve a “thank you”?
Care more than your peers, your competition (physical and online), and your co-workers; because if you have the power to make someone’s day, you’d be absolutely crazy not to.
There are key statistics that showcase why caring more will future-proof your business and draw lines in the sand between telling your clients “Don’t forget, I’m never too busy for your referrals” and never having to ask for a single referral again in the “Thank You” economy.
Let’s take a quick look at the benefits of this Care More Cocktail:
- 85% of customers are willing to pay more for a superior customer experience. (customersthatstick.com)
- Consumers with an emotional relationship with a brand have a 306% higher lifetime value and will recommend the company at a rate of 71% versus the average rate of 45%. (Motista)
- Hello client retention.
Is your service so good that competition isn’t a concern for you because you offer something that cannot be sold or duplicated?
Step away from your product and focus on showing your customer and past clients that you give a damn. They’ve already bought into what you have to offer, which is why you have to double down and go above and beyond. Give them something just for them.
What goes into creating an emotional connection with your clients?
Most “gurus” would say telling a story will create an emotional bond between your audience and your brand. Let’s make this extremely clear, this should be their story. This is how you gain their trust and will keep their attention in the “Thank You” economy.
For example, if you’re a Realtor:
- Help them navigate through the story of their home. Not your accolades.
- Proactively resolve their pressure points and send them a care package at the start of a transaction. It can contain stress-relief tea, head scalp massager, Advil, and a notepad for them to write down their concerns to give to you.
- Surprise them with moving boxes to assist them with their packing process.
- Sprinkle them with gratitude without your branding slapped all over it.
- Keep the relationship and experience alive even when the transaction closes.
A resounding 85% are saying they will forego a competitor’s cheaper price because the experience is worth the extra cash; and if you’re creating an experience you’re creating emotional connection which will in turn create a raving fan base that is willing to spark a conversation about your brand and refer your company at 71% versus the average of 45%.
Having an amazing client experience offers your market something that cannot be duplicated or commoditized by anyone else, giving you way more than just the upper hand but also rewards you with their trust and strengthens their emotional connection to your business.
This emotional connection that caring more creates will put you in the fast lane to increasing your client retention and repeat & referral business. While blogs, videos, podcasts, and the myriad of other forms of content the gurus are telling you to create still do a great job of this, creating the experience for your clients gains your client’s trust faster and sparks a conversation that is more valuable than getting a share or like on social media.
The moments of caring more for your client may become just another day at work for you but to your clients these are memorable, unique to them, and shareworthy. They will be happy to thank you and share these moments on their social media because the experience is about them. You just made their day. Their trust in you will drive that 306% increase in lifetime value to your business and will have repeat & referral business headed your way in droves.
Studies show that just a 5% increase in client retention can drive up your revenue as much as 95%. (kapost.com) So who wouldn’t want to increase their retention and emotional connection with their customers? Why aren’t we caring more as part of our marketing strategy?
Caring more about your clients will enable and encourage them to do your marketing for you. The simple law of human reciprocity will have them supplying you with red-hot referrals that don’t require you to live right next to your phone because if you miss the call they’re off to the next option.
Caring more will lead your clients to your blog posts, podcasts, videos, and content quicker and with more trust than any ad could ever do. It will lead to their subscription and loyalty to your service or product without having to ask for it.