Why Do Businesses Want Repeat Customers?
Many online businesses make the mistake of putting all their efforts in trying to sell to new customers rather than remembering the value of repeat customers.
When your business gets someone interested in your products or services you can turn that prospect into a customer. This is time to celebrate, right? You have made a sale, so your work is done. Now it’s time to find some new leads so you can hopefully repeat the process. Slow down, speedy.
It costs 6 to 7 times more to get a new customer than keep an existing one and, on average, 20% of your customers will be responsible for 80% of your sales. So how can you encourage your prospects to buy more and become repeat customers?