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The 56th Grammy Awards held last January 26 was a stunning delight to millions of people around the world. All in all, there were 82 major awards given during the annual celebration of the music industry at the Staples Center in Los Angeles, CA. But most people are not aware that the Grammy Awards are not only for the musically inclined. Even business owners can benefit from watching the event by adopting these business strategies. Among things that they viewed from the artists, performers, nominees and winners can be adopted on how they run their business particularly in building up customer retention.
Here are some of the most important business learnings about customer retention from the 56th Grammy Awards:
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The performance of the Beatles, Sir Paul McCartney and Ringo Starr, is something that almost all people looked forward to seeing. As they rocked the hall with Starr on the drums playing “Queenie Eye” while McCartney sang, the audience was reminded of the Stars’ impact on them. That night, the Beatles duo was treated special and received the lifetime achievement award. The audience clapped as they bowed their heads after their performance. Some even shed tears. But all of them rocked their hearts out as the award was given. To the Beatles, it was not just a night of thanking the music industry. It was the night they were recognized all over again like the first time they played their music on The Ed Sullivan Show 50 years ago.
Just like in any company, long-time customers should be treated extra special. Those who have been with you through ups and downs should also be given sort of “lifetime achievement” awards. How do you do that? Try creating some product promotions for them or special discounts. Or how about a hand-written note just to tell them that you value their business?
One other thing that they will appreciate is that if you will find the time to understand the reason why they stick with your business all throughout the years amidst the growing competition. Is it your personable approach? Is it your promotion? Your free delivery? Have a keen eye on details so you would know how else you can enhance your business dealings with your loyal customers.
The Repeat Customers
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There are musicians who are obviously the crowd favorites. Just as their names were announced, you could almost hear the audience say, “I knew it!” when Bruno Mars who was awarded the Best Pop Vocal Album and Alicia Keys for the Best R&B Album. So why are some performers already anticipated long before the announcement? Because of their consistency. Throughout 2013, these artists were consistently introducing hit songs one after the other. No wonder, they deserved the deafening applause of the audience.
In business, some customers are consistent. It may be over the years or throughout the year that just ended. Perhaps they are bulk purchasers or maybe just paying for your service throughout the year. Whatever it is, these customers should also be valued. How can you do this? Review your records. Before the customers make another big purchase, you can call them up and spend a few minutes, really knowing what they look for in your service. Value their suggestions and feedback. Do they want the bulk orders delivered right at their doorsteps? Do they have specific instructions for delivery? Make an extra effort to adopt their suggestions. Repeat customers like them are a goldmine.
The New Surprises
Everyone was surprised to learn that new artist Kacey Musgraves’ “Merry Go Round” was hailed as the Best Country Song. The 26-year old singer-songwriter defeated the much popular yet equally talented Taylor Swift who sang “Begin Again.” There were also Macklemore and Ryan Lewis who were hailed as the “Best New Artist.” Their song “Thriftshop” won as the Best Rap Song. But what seems to be the best surprise is the Song of the Year. Lorde, the 17-year old singer from New Zealand, beat more popular artists like Katy Perry, Sara Bareilles and Bruno Mars with her unique rendition of “Royals.”
New customers may also take us by surprise. They may be new but they have already know what they want and what they are looking for. As business owners, you have the responsibility of satisfying their needs. Why not offer them something that they can’t refuse? Experience shows that a package deal is always something worthy of time. Think of other ways to attract new customers, something that they will stick into and never turn their heads and look the other way.
Customer retention, like music, can be easily applied to all kinds of customers – be them a legend, a repeat customer, or a new surprise. The bottom line is to really get to know your customers. Mapline helps with analyzing your customers. Data analysis brings insight that builds customer retention. By adopting these 3 simple Grammy lessons, you’ll be heading to more successful customer retention.