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Do you have a WOW Budget?

Updated: Jan 16

Setting aside a portion of your budget to go above and beyond for customers can really have them saying "WOW!" It can also go a long way toward customer loyalty and the success of your small business.

What if you could create a lasting impression on your customers without breaking the bank? I believe it’s the little things we do today for our customers that have the opportunity to make the biggest impact. Remember, it’s about creating the entire experience and not just selling your product or services today. So, do you have a WOW budget for your clients? What’s a WOW budget? My definition of the word WOW is: random and unexpected. It should make you say or think, “WOW!”

A WOW budget is a portion of your customer experience (or maybe marketing/promotion) budget set aside to empower your staff to “go above and beyond” for a customer. Just think what an impact it could have on your business if you spent a little money from time to time so that your customers will say (to themselves, or others), “WOW! I can’t believe they just did that for me!” Here are some tips to consider when you’re putting together your WOW budget:

Some things to consider when you put your WOW budget together…

  1. WOW Budget - Tip #1: It does not need to cost a lot of money. Most of the time, it is something you do for them that is heartfelt which means more than something expensive.

  2. WOW Budget- Tip #2: It needs to be personal. Something that you found out about them, or something that may have significance to them.

  3. WOW Budget- Tip #3- You don’t want to mistake this idea for “delighting” your customers. We should always strive to delight them, and wow them on a random and unexpected basis.  

  4. WOW Budget- Tip #4- When it is random, you get to choose the time and place. There is something to be said about the element of surprise.

  5. WOW Budget- Tip #5 -Listen to them to find out what is important to them. Ask them what their “favorite”_______ is. The word favorite elicits an immediate response when asked, so why not capture those answers to help craft and create the entire customer experience?

  6. WOW Budget Tip #6- It’s an additional thing you do for them. Not something you have promised them, or something that they are already expecting

  7. WOW Budget Tip #7- You get to select who it's used for. Your WOW budget can be for a loyal client, one that you are trying to move to become a loyal client, or one that is a brand new client with that you would like to develop a stronger relationship. that is a brand new client whom you would like to develop a stronger relationship.

And when WOW happens to a customer, it can be a domino effect.  You see, people LOVE to tell others about wonderful things that have just happened to them.  Your customers are on the receiving end of this WOW and now have the opportunity to become storytellers for your brand, and will typically share their story with others in many ways, especially on social media. 

What about your company? As you plan your budget for this year and next, make sure to add some money for a WOW budget and empower your staff to use it. Then you can sit back and wait for the stories to pop up of people shouting your company's praises. Bob Pacanovsky is a keynote speaker and trainer, and he works with companies and organizations that look to achieve the highest levels of Hospitality and Service Excellence to attract and retain more customers and employees. His programs are customized to meet the needs of his customers and he strives to always look for ways to deliver a Black Tie Experience. He can be reached at Bob@BobPacanovsky.com.

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