There’s a very good reason that one of our earliest lessons is to say thank you: appreciation is a powerful force. Indeed, philosopher William James once said, “The deepest principle in human nature is the craving to be appreciated.” What does this have to do with you and your business? It’s been estimated that it costs between four and 10 times more to acquire a new customer than it does to keep an existing one. Clearly, there’s an economic benefit to making sure our customers feel appreciated. The question is how seriously we take this task. This month, more than 150 readers weighed in to share the details of their company’s customer appreciation efforts.
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