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Why You NEED Repeat Customers

07/22/2014 10:22

Business owners invest a great deal of time and money on marketing to attract new customers. And with good reason. We all know building a great customer base is essential to profit. But what some people fail to realize is that most of the time, one of the biggest factors in the failure or success of your business venture is not new customers--it's repeat customers. Let's look at why!

The most obvious reason is that trying to generate new customers is much more costly and time consuming than maintaining repeat customers. Yeah, new customers are great. But the fact is, loyal customers are the heart of your business. The beauty of having repeat customers is that they act as FREE, walking billboards! Through word-of-mouth networking and testimonials your customers can do the hard work for you by telling others about you (as most people tend to naturally do when they're happy with a service they have received). 

So how can you increase the chance of a customer coming back to you? 

First purchase deals: The more money someone spends with you on their first order, the more likely they will return. If you offer a special deal on their first purchase, people are inclined to buy more. And the more they buy, the better the chance they will return to you. 

Consistency: Strive for excellent customer service and be sure to have popular products readily available. Try to get to know your customers' names...or at least know them by face so they feel important to you. 

Stay in contact: Newletters, blogs, social media, catalogs, etc are all ways to stay active in the customer's mind. Remember, out of sight, out of mind. The key to building your brand comes down to trust. Make it a point to bridge the gap between the consumer and yourself. There are many different ways to do this. You just have to find what works for your customers. And it will ultimately transfer into success!