The Value of Repeat Customers In Any Industry

Is your attrition rate higher than you want it to be among your customers and clients? Are people buying things from your company and then disappearing, never returning to buy anything again? Of course, the main value of repeat customers is in that they make multiple purchases and give you a steady stream of income. You can count on them whenever you release a new product. However, there is more value than just that on its own.

Another thing that you must consider is the amount of time, money and energy that you expend trying to get new customers every year. Perhaps you make 100,000 sales a year, and most of your budget goes into finding 90,000 new customers every twelve months. Can you imagine how different your budget would look if half of those original customers would come back so that you only had to go after 50,000 more? What if you could get 60,000 or 70,000 repeat customers? Your sales numbers could stay the same and you would still make more money. On top of that, you could spend the same money to attract new customers and expand your customer base dramatically.

The key to repeat customers is quality. If they love your product and feel like it was worth even more than they paid for it, they will come back. Focus on quality over quantity, and you can create this type of a customer base. It takes work, but the benefits are there.