At the beginning every business is highly dependent on attracting new customers. The objective As you build a foundation, it will require seducing those who just know you into trusting you. Depending on the type of business and the frequency of replenishment of the product or service, the next purchase may take weeks, months or years. However, this composition of first-time purchases versus repurchases begins. To shift in favor of repurchases as the business builds its reputation and maintains. Its community of loyal followers. Given that it is increasingly clients (because operational capacity is filled. There is a focus on fulfilling orders, exposure to and the cost of reaching them is higher). A growing portion of revenue will begin to be generated from repurchasing the customers you already have.
New prospects is limited
Therefore, truly representative growth will come from recurrence. Studies show that the cost of acquiring new customers is five times greater than the cost of retaining existing ones. It makes sense: you don’t have to spend time and resources going out and finding a new client, you just have to keep the one you have happy. While acquisition allows you executive data to increase the number of customers you have, retention allows you to maximize the value of those who are already with you. Important clarification. You don’t necessarily want to keep every customer you have, so it’s best to talk about the importance of keeping the right customers to optimize your operation and maximize your returns.
Difficult to incorporate new
The objective So, if the ultimate goal is not sales but recurrence, we need the customer to achieve what they want to achieve (that the product or service meets or exceeds their expectations) for them to return. This means broadening our perspective to identify everything that Europe Email is within our reach (and targeting what is not), so that we see tangible results. When the customer achieves success (he achieves the result), he buys again. Purchases other products from his portfolio and recommends it to colleagues, friends and acquaintances.