3 Tactics For Encouraging Invaluable Repeat Customers
20 Mar 2022
Aside from that first fulfilled order or invoice payment received, nothing warms an entrepreneur’s heart like a repeat customer. How valuable is a steady stream of reliable, recurring business to a business that’s trying to get established? Research consistently finds that repeat customers spend significantly more than new ones while attracting new customers costs five times more than keeping existing ones.
Granted, both retention of current customers and acquisition of new buyers are instrumental to a company’s overall success. It’s just that putting more effort into keeping your brand advocates happy is a smarter financial move than trying to draw in potential new customers. When budgets are tight, it makes sense to invest in the efforts that bring in the highest returns. Repeat customers represent remarkable ROI.