Running a chartered accountancy firm, like Michelle's, is no easy feat. With a turnover of £1.8 million, her business was well-established, offering a reliable service to clients across various sectors. But one challenge persisted: how could she encourage her existing customers to stay loyal without breaking the bank? Michelle knew that acquiring new clients was costly, and retaining her current ones would be far more beneficial. The idea of creating a customer loyalty programme had crossed her mind, but she didn’t want to commit to an expensive or overly complex solution.
Then, she realised she didn’t need to spend big to create something meaningful. Here’s how Michelle built a simple, cost-effective loyalty programme that significantly boosted her customer retention, and how you can do the same for your business.
Understanding What Your Customers Value
Michelle started by asking herself one crucial question: what do her clients truly value? In her case, clients appreciated quick, personalised responses and being kept up to date on the latest tax regulations and financial advice. Instead of offering discounts or freebies, she focused on adding value to the service she already provided. She understood that her clients valued her expertise and time, so she centred her loyalty programme around that.
Her first step was to introduce a quarterly newsletter, offering tailored financial tips based on the client’s industry. Not only did this demonstrate that Michelle understood their specific needs, but it also saved her clients the hassle of keeping up with ever-changing tax laws. The newsletter was a hit. Clients felt they were receiving exclusive insights, which made them feel valued and more connected to her firm.
Rewarding Referrals with Personalised Thanks
Michelle knew that word of mouth was a powerful tool for her business. To encourage referrals, she didn’t introduce expensive reward schemes or discounts. Instead, she opted for personalised gestures. Whenever a client referred someone new to her business, Michelle sent a handwritten thank-you note along with a small, meaningful gift—such as a bespoke notebook with the client’s name engraved. These thoughtful, personal touches didn’t cost much but left a lasting impression on her clients.
The real magic of this approach was that it felt genuine. It wasn’t about offering large discounts or gift cards but rather showing gratitude in a way that aligned with her brand. Her clients appreciated the effort and were even more inclined to spread the word about her services.
Offering VIP Services Without the Expense
One key element of a loyalty programme is making your customers feel special. But how do you do that without splurging? Michelle solved this by introducing a "VIP client" system. It wasn’t complicated—clients who had been with her firm for over three years or had referred multiple new clients were invited to join. As VIPs, they received priority booking for consultations, access to exclusive webinars, and even an annual review meeting where Michelle herself would offer one-on-one financial planning advice.
This VIP treatment made her clients feel important, and because the benefits were related to her existing services, it didn’t cost her much to implement. It simply required a little extra time and attention.
The Power of Community
Another initiative Michelle introduced was a client community event, which took place once a year. She organised a small networking event where clients could connect with each other, share insights, and learn about the latest industry trends. The event didn’t need to be extravagant—Michelle kept costs low by using a local venue and partnering with a business catering firm. The event was an opportunity for her clients to build valuable connections and, more importantly, strengthened their loyalty to her firm.
Michelle’s community approach reinforced the idea that her clients were part of something bigger—a trusted network supported by her expertise. And it worked wonders. Clients started looking forward to the annual event, and many mentioned that this personal touch set Michelle’s firm apart from her competitors.
Building Long-Term Trust
The cornerstone of Michelle’s loyalty programme was trust. By focusing on personalised, thoughtful gestures and valuable insights rather than flashy rewards, she created a loyalty system that felt genuine and sincere. Clients weren’t sticking around because of a discount—they were staying because they trusted Michelle’s expertise and felt that their needs were being met on a personal level.
Her loyalty programme didn’t cost much, but it delivered big results. Retention rates soared, referrals increased, and Michelle’s business continued to grow—all without hefty investments in marketing or reward systems.
Ready to Create Your Own Loyalty Programme?
If Michelle’s story resonates with you, and you’re wondering how to build a cost-effective customer loyalty programme that adds real value, contact Mark A Preston, Customer Growth Coach & Speaker. Mark specialises in helping businesses like yours develop strategies that focus on customer retention and growth, without the need for big spending. Let Mark guide you through creating a programme that keeps your customers coming back, helps you build long-term relationships, and ultimately drives your business forward.
