marketing Archives - Page 10 of 31 - McLellan Marketing Group

Reinvent your category – Be different

January 17, 2018

This past year my daughter and I were in New York City and saw the play that took Broadway by storm – Hamilton. It was spectacular in every way imaginable, but it was also the antithesis of a Broadway musical in every way imaginable. It was different.

According to Broadway League research, the average theatergoer is a 44+-year-old, Caucasian, female tourist. 78% of these attendees have completed college, and 39% have advanced degrees. The average income of a Broadway attendee is $205,000 so clearly, this is primarily an affluent, white, middle-aged audience.

Which is why the traditional Broadway musical is such a hit. They’re packed with big dance numbers, elaborate sets, over the top musical performances and happy endings.

It’s also why most Broadway hits look a lot like each other. Many of them are based on proven stories like Lion King or use iconic music (Mamma Mia or Beautiful) from a popular entertainer/group. It costs between $5-$10 million dollars to launch a Broadway musical, so the risks are huge. Why would someone ever vary from the successful formula?

I think that’s the same question that we wrestle with all the time. When there’s someone in your category (or everyone in your category) that does something in a certain way, it feels smart and safe to do it the same way. The problem is that it’s pretty tough to stand out when you’re just like everyone else. The only way to compete is to outspend the competitors and for most companies that isn’t an option.

Or you can pull a Hamilton. Take everything I just said about a Broadway musical and turn it on its head.

The play’s primary spoken style is rap/hip-hop (hardly the language of the middle-aged white woman).
The storyline is based on the life of Alexander Hamilton, who is famous sort of. He was chief staff aide to General Washington during the Revolutionary War and our country’s first Secretary of the Treasury (hardly sexy roles).
The main character is not a typical hero – in fact, he was arrogant, and his blunders and ego cost him dearly, both personally and professionally.
There’s no happy ending to the story – as you know, Hamilton is killed in a duel.
The set is a simple, almost rustic wooden set with a single turntable to create movement.

Despite all the reasons why Hamilton isn’t like all the others and shouldn’t be successful by Broadway’s standards – it has broken every attendance record you can imagine. Tickets are impossible to get. It has sold out for months at a time not just in New York but all around the country, and the secondary market (StubHub and the like) sold the worst seats in the house for $700+. It received a record-breaking 16 Tony nominations and many people referred to the Tony’s in 2016 as the Hamiltonys because they were expected to sweep the awards show.

My point – people are not the lemmings we assume they are. What Hamilton creator Lin-Manuel Miranda understood is that being different is marketing gold. Being different means you have less competition, and every dollar you spend telling your story is amplified because it’s not competing with as much noise. He also understood that being different means you get plenty of media attention, which creates curiosity, interest, and momentum.

How can you take your product or service and turn expectations and “the norm” on its ear? How can you authentically (that matters a lot) give a unique twist to what you do so you stand out from the crowd?

I encourage you to identify the 3-4 places where everyone in your industry looks the same and figure out how you could deliver something different and fresh. Hamilton isn’t just a spectacular play; it’s a business lesson we should all pay attention to.

Coming in loud and clear – Podcasts

December 27, 2017

When I was a kid, I loved listening to the old time radio shows that my parents grew up with. The Shadow was my favorite. I loved the storytelling but I also loved the portability — I used to listen when I was mowing the lawn (on my old Walkman, if that doesn’t age me!). Today, my old time radio fix is met through podcasts. There are so many podcasts out there – I don’t care what your interest, personal or professional, there’s a show for you.

I can listen when I’m driving, taking a walk, working out or on a plane. I love video but it requires all of my attention. One of the best things about a podcast is that I can consume them during “down time” and turn it into productive time.

I believe that podcasts are one of the most under-utilized marketing tactics out there today and if you haven’t considered it, I want to make sure it gets on your radar screen.

We probably do them a disservice, calling them podcasts. Who actually listens to them on an iPod anymore? The new term that seems to be gaining momentum is on-demand radio. 64% of podcasts are being consumed via smartphones or tablets today.

Consider these stats (from a study done by Edison Research):

36% of all Americans have listened to at least one podcast
21% listen to podcasts on a monthly basis
Podcast listening has increased 23% from 2015
Podcast listening has increased 75% since 2013
The same number of Americans listen to podcasts as there are Twitter accounts
The average podcast listener consumes five podcast episodes a week

This medium has huge potential as a part of your content strategy, but only if you build it with your audience in mind. Podcasts aren’t about selling. They’re about teaching, entertaining or both. Just like I’ve preached about your blog posts, videos or any other form of content — your podcast needs to be engaging and helpful. Otherwise, you will never build an audience.

Here are some other best practices if you’re going to launch a podcast.

Use good equipment: You don’t need to spend big bucks, but you do need to invest in a decent microphone and headphones. You’ll have to decide if you’re going to do the editing yourself or hire someone. For my podcast, I don’t have the time or technical expertise to do the editing/uploading to iTunes etc. I’ve got a great partner who handles all of that for me. If you’re interested in an introduction – shoot me an email.

Time is of the essence: The average commute is 25 minutes. Podcasts that are shorter than 30 minutes tend to have more listeners and get more downloads. But if you are providing high-value content, people will stick around.

Don’t wing it: Even though the best podcasts feel like they’re just casual conversations – they are anything but. You want to do some serious prep for your podcasts. It takes a lot of poise and preparation to sound unrehearsed. At the very least, have your intro and closing comments drafted and an outline of how you’d like the conversation to go.

Consistency wins: This is one of those “don’t start if you’re not serious” marketing tactics. Your efforts will not be rewarded if you’re inconsistent. Podcasting is also not a once a quarter or once a month effort. Weekly seems to be the ideal frequency for a busy brand that isn’t trying to monetize their podcast.

I guarantee that you have plenty to teach and that there’s an audience out there that’s hungry to learn. Why not consider jumping on the podcast bandwagon while it’s still building up steam?

Measure what matters – business metrics

December 20, 2017

A while back, we explored the business metrics that every business owner and leader should be monitoring to keep their finger on the health of their organization. We dug into the purely financial metrics like lifetime value of a customer and profitability.

Today, I’d like to explore the marketing/sales and employee metrics that we help clients define and grow as we work with them. Just as a reminder, those metrics are:

Marketing/Sales

Retention percentage (How many customers did we keep from last year)
New business win rate (How many prospects did we convert to becoming customers)
New business traffic patterns (How are our new customers finding us)

Employees

Employee satisfaction/retention (Average tenure of your team and the health of your team)
Employee value (How much value does each employee contribute to your company and are they continuing to grow/add more value)

Now let’s look at each of these and why they matter.

Retention percentage: One of the truths that many business owners forget is that the largest source of new revenue should be your existing customers. It makes perfect sense. They know and trust you. If you deliver consistently, they should need and want to spend more with you, year after year. Well, to make that work – you have to keep them as customers. When you combine this with customer ratings (how good of a customer are they for your business) you really have valuable insights.

New business win rate: When you get a chance to win a new customer, how often are you successful? If the number is too high, your pricing strategy might need some work. If the number is too low, you might be talking to the wrong people or there’s something else that’s not working. This data will also help you decide if you’re wasting a lot of time chasing after business you have no chance of getting or you’re setting your sites too low.

New business traffic patterns: One of the ways to assess your marketing spend is to understand how prospects find you. When you understand what brings your best prospects to your door – you know where to spend your time and money. Even if your best avenue for new opportunities is through referrals, there are tactics you can strategically employ to enhance the quality and quantity of referrals you get.

Employee satisfaction/retention: The team that serves your customers is a make or break element of your business. Keeping your best performers and knowing that your crew feels appreciated and well prepared to do their jobs is a vital metric for every business. As we enter into an era of scarcity when it comes to skilled and talented employees, this will become increasingly important to your business. Don’t scrimp on this – figure out a way to benchmark and then routinely measure this key metric for your business.

Employee value: Every employer knows that not all team members are created equal and that each of them contributes at a different level. You want to have a very clear understanding of the value they deliver to your customers and to your bottom line as you are determining career paths, salary increases, and bonus amounts. This will also help you decide where to invest for your long-term growth.

Once you decide how to get the data you need to track these metrics, the mechanics are pretty easy. For most organizations, quarterly monitoring will give you a good handle on the trends that have a huge impact on your company’s profitability and viability. This information will also help you determine new opportunities to explore and where you need to keep a watchful eye.

Mini Marketing

October 25, 2017

The list of marketing tactics that you can use to reach an audience is staggering. The different ways you can slice and dice humankind into different audience segments is never-ending. The stories you can tell and the messages you can deliver are countless.

And that’s exactly what is ruining your marketing.

The truth is there is not a business on the planet that needs to be on everyone’s radar screen. Whether you are a global business or a Mom and Pop local shop – you have a very finite number of people who actually can benefit from what you do. One of the biggest mistakes marketing people make is inflating their number. They fish with a very wide net when a spear gun is a much better choice.

Stay with me on this analogy. When you cast out a wide net, it gets filled up with a wide variety of fish, debris, and seaweed. You spend a lot of time sorting out the good from the bad. You often will talk yourself into trying some odd fish that looks good but turns out to be hideous. And by the time you dig down to the ones you actually wanted – they’re a little worse for wear. If there’s even one in the net at all.

That’s how most businesses approach their marketing. They cast a wide net, trying to have a presence everywhere because they don’t want to risk missing someone. I’m here to tell you, you can miss most of the someones as long as you connect with a relatively small number of the right someones.

Kevin Kelly, the founding editor of Wired magazine, has been talking about this idea since 2008. You’ve probably heard of the 1,000 fans theory. His hypothesis is that an artist (performer, author, artist, etc.) can survive on 1,000 true fans. The number 1,000 is not a precise number but more of a ballpark. But the concept holds either way.

The idea is basically that as your fan base gets larger and larger, the ROI per fan gets less and less because you can’t possibly cater to them all. The long tail is past the sweet point of the effort to engage. According to Kelly, if you want to make money, you will make much more from the first 1,000 fans that are diehard because they’ll buy whatever you produce and engage no matter what. They will also tell the world about you and how much they love you. Back in 2008, the world looked very different, but changes in our connectedness and online behavior only make this base idea more relevant.

Odds are your business is a little bigger than a single artist, so recognize that the number 1,000 is symbolic. But the message is dead on. You need to figure out who your fans are and talk to them on a regular basis about the things they care about. That will attract more of them.

Here’s the danger zone in this effort. Once they have their attention, many marketers just check the box and consider it done. And they’re off to chase the next audience.

That’s where you can do it better by being smarter about keeping the target small and focused. The minute you broaden your message or your channel, you make your fans feel like customers. That shift – from being someone you care about to someone you want to convince to buy something, changes everything. They don’t feel special. They don’t feel catered to and they sure don’t feel like telling the world about you.

Marketing shouldn’t be wide. It should be deep. That’s where people evolve from prospects to customers and if you stay focused – become your raving fans.

You are what you measure

October 18, 2017

Back in the good old days, measuring your business outcomes and the impact of marketing on those outcomes was a challenge and at best, imprecise. Today, we have the opposite problem. Thanks to the web, Google Analytics, cookies, and other tools – we can measure everything. Unique visits, time on site, clicks, and so much more. But are those the things we should be measuring?

In marketing, there’s an important axiom – just because you can doesn’t mean you should. I think that definitely applies to how we define and measure success. I think that the web has made counting things so easy that we’ve forgotten what actually matters. It doesn’t serve anyone to measure just for measurement’s sake.

There are a ton of tactical things we can measure that correspond to a campaign or a specific marketing tactic. Naturally, we need to watch those too but they’re not going to tell us if a business is healthy or not. They’re only insightful to a point.

At MMG, we’ve always subscribed to the philosophy that you should have a few vital metrics (KPIs, goals – call them what you will) that are at the core of your business’ success and you need to monitor them faithfully – watching for trends, good or bad and reacting accordingly.

Every business may have one or two unique metrics but there are some that are pretty universal. This week, we’re going to look at the financial metrics that every organization should measure. We’ll dig into the marketing/sales and employee metrics next week.

Financial Metrics

Lifetime value of a customer (How much does a customer spend over the entire span of working with them)
Annual value of a customer (How much did the average customer spend this year)
Profitability of a customer (For every customer you have, how much money did you make)
Revenue mix (Amount of money from existing customers versus new customers)

Now let’s look at each of these and why they matter.

Lifetime value of a customer: This is a vital metric that tells you how much you can afford to spend to chase after new customers. It also tells you if your pricing strategies are properly aligned and what the loss of a customer is actually going to cost you.

Annual value of a customer: Ideally, this number would increase every year. You want to keep delivering more value so that each customer wants and needs to spend more with you. It should also increase year over year as your retention improves. For most businesses, the customer is much more profitable in years 2+ than they are when you’re onboarding them in year one. The exception to that rule is if you’re a high ticket, considered purchase like a house.

Profitability of a customer: This is one of the most insightful metrics possible. You will quickly identify what size and type of customers are where you make your money. You will also be surprised at the customers who don’t yield a profit or worse – you are paying for the privilege of working for them. It may also suggest that certain products or services that you sell yield better profits.

Revenue mix: New dollars are harder to earn than recurring dollars. But you also need an influx of new dollars to offset the natural attrition that every business experiences. This metric and the retention percentage that we’ll cover next week work hand in hand.

For most organizations, it’s enough to monitor these quarterly because more often than that doesn’t really show much movement. It’s like a built-in early warning system for trouble that will give you time to course correct before the damage is too deep or too expensive to fix.

One thing

October 11, 2017

In the wake of what we’ve been talking about over the last couple weeks, I’ve received a lot of emails asking about this idea of how to define who your organization is, who you best serve and what you do for them. Ironically, this all boils down to doing less, to focusing on just one thing. It’s so counter-intuitive that most business owners and leaders reject the idea. I get it – you want to offer as much as possible to your potential customers and surely more potential customers means more revenue, right?

Actually, no. Our world today is about specialization. In most cases, people have a specific need. I need someone to tune up my BMW not just I want an auto mechanic. I need someone to come to the house to tune my piano not just I need a piano store. I need long-term disability insurance for my company of 43 employees not I need someone who sells every kind of insurance under the sun.

We get it when we are the consumer. We want someone who has a depth of knowledge so we can be confident that they will not only understand my need but they’ve met my specific need many times for customers who have gone before me. But when it comes to the selling side of our world, we somehow forget the value of this distinction and want to sell a little something to everyone.

Here’s why that’s a flawed premise:

Your most profitable sale is the repeat sale: You know the least profitable of all sales is the first one. The sales cycle is longer. The concessions are often greater and the risk of a client mismatch or dissatisfaction is greater. But when you delight someone and meet their need to such a degree that they buy again – there’s hardly any sales cycle, they are happy to pay your price because they’ve already seen the value and they know they’re going to be happy.

You don’t need that many: I think one of the reasons businesses take the generalist route is because they haven’t done the math. If you could secure new customers that were going to be repeat buyers and great referral sources – how many do you really need? The truth is, you can only handle so many new clients. So why not narrow your focus so you only secure the best possible new clients? Why not focus on the one thing?

Generalists are commodities: If you sell everything to everyone, you become the dollar store of your industry. You have to be less expensive because you are a generalist and generalists have to compete with everyone out there. So it becomes a price issue. Is that really where you want to be?

It diminishes the experience for your team: Being pretty good at a lot of things does not feel the same as being incredible at a few things. Everyone wants to take pride in their work. Everyone wants to be perceived as being best in class. Everyone wants to be appreciated for adding incredible value. With today’s shrinking workforce – you want to offer your team the luxury of being a rock star, not a garage band so that you can attract and retain the best talent out there.

Part of your work in defining your company’s values, mission and vision should be focused on the question “where can we truly over deliver that will add tremendous value to our clients?” Odds are the answer will not be everywhere. What is our one thing? Define the playing field where you have the shot at winning almost every game and refuse to play anywhere else. That sort of discipline is difficult but the short and long-term rewards are worth the effort.

Don’t try to be everything to everyone. Be indispensable to a few who will help you attract more just like them.

What’s your mission?

October 4, 2017

Last week we explored how critical it is for a business to have a clear idea of who they are and what they’re all about – mission, vision and values. My worry is that few owners have ever taken the time to actually articulate what their business is all about or made the effort to weave it into the fabric of the company.

Hopefully you invested some time last week to really define your core values and are ready to dig into the mission and vision portion of defining your organization’s core.

Many people confuse mission and vision. Here’s how we define them.

Mission — what you do best every day

Vision – what the future is like because you do what you do best every day

No matter what you sell, from legal services to multi-million dollar medical devices – someone else sells what you sell. Yours might be a little better, a little faster or it might last a little longer but it’s got lots of decent competition. Our best clients don’t love us for what we sell but how or why we do it. That’s where our mission and vision come in.

Why would you invest the energy? First, we have to acknowledge that there are no bad customers. But there are definitely bad customers for us. Every dollar is not earned equally. We’ve all suffered from a wrong fit client. Because we’re not in alignment with them – it’s harder to make them happy. We end up investing a ton of time and energy trying to fit a square peg in a round hole. That hardly ever works. We expend an incredible amount of time, money and energy trying to meet their needs when the truth is – we weren’t the best fit for them.

That’s the beautiful thing about really understanding why your business exists and what matters most to you. That clarity will attract right fit customers to you and it will also repel the wrong ones.

Another big benefit of that clarity is that when you define your why, as Simon Sinek encouraged us to do in his book, Start With Why, it also helps you find employees who share those beliefs and will stand along side you as you delight your right fit customers.

So how do you figure out what your mission and vision are? The key to doing this well is not settling for a superficial answer. Remember that your mission statement is what you do best every day. This statement should be from your customer’s point of view.

Why do you work so hard? How are you changing your sliver of the world?

If you’re having trouble articulating what you do best, try this. You know that feeling you get every once in awhile when everything falls into place and deep in your soul you think — THIS is why I do what I do? Figure out what triggers that feeling and odds are it’s a pretty good clue to your organization’s mission.

Unlike the mission, the vision is from your company’s point of view. Why are you putting in the effort? What are you trying to accomplish? What will be true for your organization if you deliver on your mission every day?

The trick to doing this well is pushing past the expected. If most of your competitors could claim your mission or vision – you haven’t dug deep enough. It needs to be uniquely yours, so keep pushing until you get to that level.

When you do this well, it’s evergreen. Just like our personal values and purpose rarely change – the same should be true of your company’s mission, vision and values.

Invest the time to do this well and then reap the benefits of knowing exactly who you are and who you are not.

Mission, vision and values

September 27, 2017

It’s vital to every business that they have a clear idea of who they are and what they’re all about. Few owners have taken the time to distill it down or made the effort to weave it into the fabric of the company. What do the mission, vision and values for your business look like?

Many people confuse mission and vision. Here’s how we define them.

Mission — what you do best every day

Vision – what the future is like because you do what you do best every day

And the values that your company are built on is what influences your mission and vision. Each of these is critical. If you believe you’ve already sorted these out for your organization– revisit them to make sure they’re still on target and meet the following criteria:

Are your mission and vision statements a single sentence?
Are your values short enough that everyone on your team could memorize and recite them?
Are all three components written in common, easy to understand language?
Are they unique to you? Could any other business claim the exact same set?
Are they all from the client’s/an outside perspective? Remember this is how you want others to see you.

This kind of work looks simple enough, but the truth is, it’s incredibly difficult to dig deep enough to get to answers that fit all of the criteria.

If you’ve never developed a mission, vision or defined your company’s values, it’s long overdue. Let’s start with your values.

Go someplace that inspires you to clear your head and really do some deeper thinking. For some, this will be a quiet place like sitting by a lake or in an art gallery. For others, it will be putting on some headphones in a coffee shop and immersing yourself in the energy. Hopefully you know what kind of an environment triggers your best thinking.

Most people find it’s easiest to tackle the values first. Make a list of all of the values that you want your company to have. At this stage, don’t edit or censor. Just brainstorm the list and capture every thought.

Now, pick the 5-6 that are most important to you. These are the values you are not willing to compromise on, for love or money. These should not be aspirational. These need to be foundational to your business – you should already be using them as a guide, whether you’ve articulated them before or not.

The finalists should get a yes answer to the following questions (borrowed from Jim Collins in Good to Great):

If you were to start a new business, would you build it around this core value regardless of the industry?
Would you want your company to continue to stand for this core value 100 years into the future?
Would you want your business to hold this core value, even if at some point in time it became a competitive disadvantage?
Do you believe that those who do not share this core value—those who breach it consistently – do not belong in your organization?
Would you change jobs before giving up this core value?
If you awoke tomorrow with more than enough money to retire comfortably for the rest of your life, would you continue to apply this core value to your productive activities?

Rank them in terms of importance. Why does this matter? Because sometimes values are in conflict with one another and you need to know which ones trump the others.

Now, that you have the values defined, are you happy with the words you’ve chosen to communicate each one? This is your opportunity to wordsmith them. After you’ve done that – you’re done with step one. Next week we’ll dig into your mission.

Every dollar is not a good dollar

September 13, 2017

If every dollar looks the same, how do you know which dollars are “good” dollars for your business? The reality is – every dollar is not created equal and doesn’t serve your business in the same way. In fact, some dollars actually cost you money.

Let’s say prospect #1 wants to buy something you don’t do very often and so you’re not as efficient at it as you are in other areas. On top of that, they’re in an industry that you don’t know very well. Earning that dollar is going to be slow and painful with a longer, larger ramp up time.

Even if you see that they have a big pile of dollars waiting to be spent – you might very well never get a chance to earn those extra dollars because you’re probably not going to delight them right out of the gate.

On the flip side, prospect #2 is in an industry that you know like the back of your hand. You know their jargon and quirks. On top of that, they want to buy the product or service that you sell day in and day out. You know exactly how to deliver on their need and you know they’re going to be elated at the results.

Each prospect has the same dollar. But the path you’re going to take to earn each dollar is very different, in terms of your enjoyment, their satisfaction and your potential profitability.

Logic tells us that we should:

Specialize in terms of whom we serve and what we offer, based on what we’re best at. We can’t know whom to serve until we know who we are.
We should have a clear picture of who our sweet spot clients are, based on who we are and only go after those prospects
We should discriminate – rewarding our sweet spot prospects for coming a little closer and making if more difficult for the not so right fit prospects to find/hire us
We should identify what we do best and not try to be everything to everybody. Saying no is a good thing. Having strategic partners is even better.

Logic may tell us all of that and yet – for many business leaders, sales team leaders and business owners – we can’t get past the fact that there’s a dollar on the table. We want the dollar.

Here’s the truth of the matter. I’m betting that right now you have a customer or two that you are literally paying for the privilege of doing work for them. That’s right — they are so unprofitable, because they’re the wrong fit, that you are losing money every day that you keep them as a client.

Their fees or purchases help with cash flow. It’s money in the door every month. That reality can often mask the truth underneath. You are losing money on that work. Many business owners are surprised when they crunch the numbers and realize one of their largest clients is actually one of their most unprofitable clients.

Before you go out and start pursuing new clients – I want you to evaluate the ones you already have. Crunch the numbers to see if you’re actually making money and rank your clients in terms of profitability. I bet there’s a surprise or two waiting for you.

Once you know which dollars are good dollars for your organization, it will help you target who your next customers should and should not be. Then pursue the right ones with a vengeance, knowing that each one you catch will make your business stronger and in a better position to say no to the bad dollars.

Gratitude magnified

September 6, 2017

Last week we explored the idea of how smart businesses recognize that gratitude isn’t just a worthy emotion – it’s smart marketing. Everyone wants to be appreciated and today, when businesses must compete for both customers and employees, it’s an important retention tool. We covered how to create a spirit of gratitude inside your organization last week. But how do you expand that out to your vendors and customers as well? Gratitude magnified.

The sad fact is this. You don’t have to do much to get noticed. Your vendors and customers are so used to not being appreciated, you’ll completely catch them off guard by showing a little appreciation. Much like with your internal team, this isn’t about how expensive it is, it’s about how genuine it is.

Let’s start with your vendors. Here are a few ways to let them know how much you appreciate their efforts.

Put the spotlight on them. All too often, our vendors remain in the shadows – quietly helping us serve our clients. But a memorable way to say thank you is to shine the spotlight on them. Of course, they should be asking you for a written testimonial but like most businesses, they’re too busy and it never rises to the top of the To-Do list. Proactively write a letter that specifically states why you value working with them and how they help you and your business.

Put it on letterhead and send them a hard copy for their own use. But don’t stop there. Take snippets of your glowing praise and post it on their Facebook page or tweet about their efforts.

Another way to get them some well-deserved attention is to actively connect them to other potential customers or referral sources. No doubt you know and work with other people they should meet. You can introduce them informally, make LinkedIn connections or better yet – why not throw a referral party and invite all of your vendors to come and meet each other. Odds are – they’re going to make some great connections and remember just who made it happen. That’s gratitude magnified.

For your customers, a more personal touch might be in order. Sure – you can do the holiday card or gift or even hold a client appreciation event. But I believe the more personal you make it, the more meaningful it is.

I’ve written about it before, but there’s something magical about a handwritten note. Think of it as your love letter to your customer. Let them know why you value their loyalty and trust. Share with them how they make your job easier, more fun or more exciting. Don’t type it – no matter how awful your handwriting is. It doesn’t have to be super long but it should be very specific. A generic thank you feels like you sent everyone the same note.

A variation on this would be to help your client experience something important to them at a whole new level. Maybe they’ve always wanted to learn how to bake or they love live theatre or professional hockey. Use your connections to get them behind the scenes at a local bakery for a one-on-one lesson or see if you can score them backstage access after a play or game. The key to this strategy is to go beyond just buying them something. It’s the extra effort that really says thank you. That’s gratitude magnified.

Just a final warning – all of your efforts get drastically watered down if you attach any sort of ask or payback to your act of gratitude. This isn’t the time to ask for more business or a referral. Just be grateful and then be quiet.

I think you’ll be surprised at what you hear in return.

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