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Showing posts from September, 2020

Are Existing Customers Worth More Than New Ones?

Some say it costs businesses five times as much to grab a new customer than it does to retain one they already have. There is much truth in this, and yet many businesses focus more readily on trying to sell goods or services to new customers. No doubt you are aware of a few major companies that consistently offer great deals to new customers, while all but ignoring their existing ones. And they wonder why some people vote on that with their feet, seeking out a great deal with the competition instead of staying put. Now, think about your business. Are you guilty of doing what so many larger companies do, and ignoring the people who have already entrusted you with their business? If so, it’s not too late to do something about it. Here are some pointers to help you make the most of every customer you have. Staying in contact Never break contact with existing customers. Maintaining contact is easier than ever now, thankfully, because we have email lists we can use. S