Top Spending Clients & Christmas

Let’s go back to the 80 – 20 rule.  The economist Pareto discovered in the early 1900’s that 80% of the wealth in 4681903-2241x2791Italy was held by 20% of the population.  I had written about this previously, but it is a good time to talk about it again.  I am frequently asked questions about gift giving to clients.  From What should I give them for Christmas? to How do I determine who my top clients are?  Here are some tips to help you:

  1. Run a report by client and identify the top 20% spenders. Now, you have the answer of who to focus on.  The top 20% will probably represent 80% of your business. 
  2. The second question I am often asked is: How much should I spend on each client?  That could vary depending on your budget.  Your gifting should be a line item in your budget.  If your overall marketing budget is 10% of your gross revenue, then perhaps gift giving could represent 2% of that amount.   Convert that 2% into a dollar amount. Now you know how much you can afford to spend on gifts to your top clients. 
  3. The third question I am asked is: What should we get them?  There are several things you can do. The most popular item should be products from your spa, preferably branded items; such as robes, wraps etc.  Or it could be something like a complimentary treatment or a gift card.  It could be a book or something that has to do with health and wellness.   This really should be planned far in advance and ordered during the end of August.  But most important: It’s the thought that counts! Don’t get hung up on price.
  4. You could also recognize them as a VIP client in your newsletter or during your holiday party by giving them a different color name tag.  They could receive a bigger and better goody bag. Get your brand to help you in recognizing your top clients who especially purchase products on regular basis.
  5. If you have no budget at all, you can send a Christmas/Holiday card with a complimentary upgrade for their next visit.

The fourth question I am asked is: What should we do for all the other clients?  Sending holiday wishes via a card or an electronic card is appropriate. 

Here is what we did at InSPAration Management this year.  We gave our top 20% a gift. Then, we sent out a gift in our newsletter for all other clients to join us for a webinar in January.  The webinar is for the Don’t Sell, Recommend! Our number one educational program, a value of $99, they can attend totally free.  If you did not see it, and you are either a client or a newsletter subscriber of InSPAration Moments, make sure you sign up! 

Hope you are having a busy month, and remember, the important fact is to recognize your clients and your team members!

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