[Questions: larry@larrylitwin.com]
No matter where you are in your sales cycle post-COVID-19, more and more businesses are looking for ways to help drive repeat business. Why? Because it represents a huge revenue stream to top-line sales.
According to OutboundEngine.com:
- Acquiring a new customer can cost five times more than retaining an existing customer.
- Increasing customer retention by 5% can increase profits from 25% to 95%.
- The success rate of selling to a customer you already have is 60% to 70%, while the success rate of selling to a new (non-referral) customer is 5% to 20%. Here are the “8 Tips To Help Generate Repeat Sales”
- Use a client’s first name
- Make GREAT customer service a priority
- Communicate missed deadlines
- Train Your Sales Team On Up-Selling And/Or Cross-Selling
- Follow Up After An Initial Order Is Placed
- Ensure Customer Support Information Is Readily Available
- Reduce The Perceived Risk
- Assess Your Company’s Performance
Executive Summary:
A happy client is more likely to become a repeat customer. With this in mind, it’s essential to make good customer service a top priority. Remember, if you are not making your clients happy, your competition will be waiting in the wings to do a better job.
[Questions: larry@larrylitwin.com]