Are The majority Of Your Customers New Or Repeat? | M4B Marketing | Small business news; tips; networking

Posted by m4bmarketing under Marketing
From http://www.m4bmarketing.com 4483 days ago
Made Hot by: gmastersj on August 17, 2012 10:03 pm

Knowing how many of your customers are new or repeat can be quite revealing. This is because it can highlight problems and opportunities to grow your business profitably. It also can give you insight into how your marketing strategy and tactics are performing and the time and money implications.

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Comments

Written by HeatherStone
4482 days ago

Hi, Susan. I think it kind of depends on the product or service. For example, if you sell an information product, say an important how-to, you aren't likely to have repeat customers for that same product again and again. On the other hand, if you have a set of related products, you may want to customers who have already bought one of your products and may be interested in purchase of others. Otherwise you may miss out on potential customers you have already bought from you and may want to buy again.

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Written by HeatherStone
4479 days ago

Totally agree with you that having multiple products that you can marketing to existing customers is definitely the way to go if possible, Susan. If you have a one-off product, developing other related products for your existing customer base should be that much easier.

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Written by m4bmarketing
4479 days ago

Hi Heather,

You are right about it depends on the type of product or service. Your point about related products is a good one to gain repeat business. The problem some businesses face is when they only offer one offs which means they are always looking for new customers which is expensive and time consuming.

Susan

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