International Clients' Day: The importance of appreciating and reassuring clients amidst economic headwinds

International Clients' Day: The importance of appreciating and reassuring clients amidst economic headwinds

In a couple of years, most major Lithuanian firms adopted the modern tradition, and the country's President took note of it in 2013.

FPJ Web DeskUpdated: Saturday, March 18, 2023, 08:10 PM IST
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The customer is always king is a decisive doctrine for all business activities, as products, services and any resource making it to the market, all revolve around the consumer. Know Your Customer has become a crucial part of the digital economy, and advertising in the data age creates marketing content based on every individual's choices and interests. Needless to say, a day for celebrating clients was bound to be a hit when every festive season or holiday is all about the customer for businesses anyway.

What's the origin story?

Although the customer and trader relationship has been essential ever since the first business transaction took place, the International Clients' Day was launched little more than a decade back. It was in 2010, that the first day for clients was celebrated by a Lithuanian Company called Klaipeda on its anniversary on March 19. Over the next couple of years, other major Lithuanian firms also adopted the modern tradition, and the country's President took note of it in 2013.

Soon the International Clients' Day gained popularity in Russia, before other countries also embraced it. Apart from discounts and loyalty programs, companies across the world have also started appreciating clients in public via social media. The holiday has spread quickly, at a time when higher reach via online portals, has also increased competition to hold on to a client's attention.

Challenges yet to be overcome

At the same time, security of a client's personal details has also become a concern in the age when cyber attacks have hit major corporations. Economic uncertainties and events such as a banking crisis in the US also highlight the need for safeguarding clients, as consumer confidence is hard to build and maintain. As regulators and organisations alike try to reassure clients, the stock markets show that they still have a long way to go.

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