Sales are key to building your business and turning a profit, but too often small business owners forget to look after their existing customer base. So here are 5 reasons why you should look after you existing customers:
1) It costs more to get a customer then sell to an existing customer
It can cost up to 5 times more to acquire a new customer than sell something to an existing customer.
2) Happy Customers refer their friends
It’s estimated that a happy customer will tell more than 5 people about a good experience, that’s 5 more potential customers for you!
3) Happy Customers don’t create bad press
An unhappy customer on average tells 15 people about a bad experience with a business! Imagine if you have ten bad customer experiences, that’s 150 people that potentially are
4) Happy Customers will spend more in the future
Happy customers on average will spend more the next time they shop with you because they trust you.
5) It’s far nicer to work with happy customers
Imagine going to work every day and dealing with customers who complain or simply don’t like you. Now imagine going to work every day and serving customers who appreciate you and the efforts you put in!
Good customer service is the key here, the customer is not always right but they should always be respected and treated well.
