8/24/2017

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Repeat Business

What is repeat business and as an entrepreneur, why is it important to keep your customers coming back?

Repeat business is the satisfied customers who returns time and time again to the same company for products and/or services. Although the cultivation of new customers and clients is essential for a business to grow and prosper, it is the repeat business that makes a company stand out from the competition.

Repeat business is the lifeblood of most successful companies. Those who run successful companies, the presidents, CEO's, and managers fully understand the need to keep customers loyal, happy, and coming back for more. They know that without repeat customers, a business is likely to struggle to create a niche in whatever field they are trying to get a foothold in.

If you can get a continuous stream of new customers, your business can grow and prosper. But remember, it is much cheaper to have customers come back over and over again than it is to cultivate new ones. Studies show that it costs six times more to attract new customers than it is to have a solid base of repeat business.

The reason companies get repeat business is because their customers liked what they got the first time around. This is important because people will not come back if they are not happy with the way they are served or if they feel that the products are inferior or too costly. Your business has to offer efficient and reliable products and services at all times and your prices have to be competitive.

Once a customer uses your services or buys your products, it is imperative that you find ways to keep them coming back. Smart business people are creative. Along with providing good products and services, they find ways to promote their companies whenever possible by staying in touch with their customers.

Staying in touch can be done in small, effective ways such as mailing a letter, sending an email, making a phone call, or dropping by to say hi. To keep customers thinking about your business, send them flyers, thankyou notes, business cards, a Christmas card, birthday card, refrigerator magnets, personalized pens, and a calendar at the end of the year.

Most people like knowing that their business is appreciated and enjoy small reminder notes, gifts, special offers, and promotional deals. That's why most successful companies spend lots of money promoting themselves, their products, and their services.

Not only do you want repeat business, you want your customers to recommend their friends and family to you. Positive word of mouth is very important to entrepreneurs who are trying to establish a profitable business. In other words, you should encourage your customers to spread the word about the good products and services your business provides.

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