5 Reasons to Partner with a Concierge for your Customer Retention
As studies show, “acquiring a new customer will be anywhere from 5 to 25 times more expensive than retaining an existing one”1. That being said, it is no wonder that account managers might strive to build the most efficient loyalty programs. However, one could argue that this can often become a delicate task. While loyalty cards, points and discounts might do the job quite effectively within mass market frameworks, several more high end industries might beg to differ on such a choice of incentives.
Indeed, for service-related industries and high end collectables’ clienteles, finding the right balance between time, costs and tailorship often triggers complex equations. The pursuit of loyalty is thus likely to become a full-time job, involving a series of specific skills and closely monitored budgets.
This is precisely where the concierge fits in. With customer satisfaction as his core business and your vision as compas, he complements your services with his, while providing your clients with a 24/7 dedicated assistant. He therefore simplifies the retention equation by bringing in both his network, humanity and inventiveness, while keeping you from recruiting any dedicated employees or exceeding any given budget. Acting as a sort of magic white label jinni, he fulfils your customers’ dreams, while letting you get all the credit.
Here are 5 ways in which this works:
Customer satisfaction is their core business
Customer-satisfaction is the very definition of what a concierge is owed to ensure. Developing both the soft and hard skills required to attend any demanding person, the concierge strives to find the next big idea that will blow his customer’s mind, while making sure to regularly interact with him in the most joyful and tailored ways. He deepens the knowledge of your customers to attend them in the most bespoke ways.
Was there a time you had to please a time-consuming, bad-tempered and particularly demanding customer? Did he ever request delicate favours of any kind or call you in the middle of the night? Did you ever had to book the most prestigious establishments in an hour’s notice to impress a client?
Well, those are precisely the contexts in which a concierge will become your very own life-saver.
They do you, get the credit
For a concierge, discretion isn’t a simple feature to be showcased before a client. It is a process, a way of operating to ensure that specific requirements are met. This is why they are naturals when it comes to adapting their services to a given company’s culture and acting in their name. How does it work? They operate as white label partners. The company subscribes to the concierge’s services and lets him interact with the customer directly. The customer then pays for the products and services he requests, while benefiting from the concierge’s pre-negotiated deals and contracts (VIP treatment, automatic upgrades, high end welcome packages, etc.).
They are time-savers
Whether it is about asking for favours, putting oneself in delicate positions or bending over backwards to obtain priority treatments, making a customer happy can sometimes prove to be challenging. Indeed, when it comes to pleasing fussy people, playing by the book and using traditional processes simply won’t cut it. Such personalized endeavours can thus become outstandingly time-consuming for an employee responsible for both increasing its portfolio’s share of wallet and conquering new prospects.
This is why so many account managers choose to rely on their concierge service provider’s pre-negotiated deals and contracts with a wide array of partners. From the most prized events, to travel arrangements, real estate properties, personal services, emergency handlings and network growing, concierges are incredibly well connected and ready to face the uncertainty of roughly any given situation. In an effort to continuously maintain themselves ahead of the curve, concierges build strong long-term bonds with their partners to ensure that no request is left aside. This results in impressive stall tactics aimed to alleviate companies, while letting them focus on the conquering.
They are creative
A customer’s needs are likely to sweep a wide range of fields, spanning from the most ordinary to the uttermost extraordinary. This is why a loyalty program’s most delicate task relies on the accurate anticipation of the person’s needs and moods. It is about awakening a special feeling, providing the experience that will make a genuine advocate out of your client. It is about understanding that the most intangible details will be the ones yielding the most tangible results.
The concierge’s job precisely consists in ensuring such anticipations and building the tailored experiences that will differentiate the company from its competition. Cultivating rareness, he will build on what the company already has to generate a special added value, which will be almost impossible to imitate by any competitor.
They operate worldwide
International by nature, concierge service providers enable you to both activate new territories and attend your clients’ needs abroad, without requesting your presence in other countries. You instantly benefit from their extended worldwide network, and ensure your customers’ retention no matter their nationality, travels or residence location(s).
Interesting, isn’t it?
So why not give it a try?
You wish to try out the concierge experience?
1 Amy Gallo, Harvard Business Review, 2014
Originally published at Luxury Worldwide Service.