Improving sales with customer relationships

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By ALEJANDRO CATAÑON

BUSINESS TIPS

What is the number one goal most businesses strive for? If you said more sales, you are right. Look across almost every industry in business and you find that they are focused on growth. Increasing revenue by driving sales. The most successful businesses, however, are not only focused on acquiring new customers to drive sales. They are focused on bringing back repeat customers.

Think about a business where you love to shop. How many times do you shop or purchase there on a given week or month? Do the math for how much you spend in a year. You should arrive at a fairly good sum of money. Now multiply that by 10 (years) that is the value you bring to that business. Imagine hundreds of other loyal customers. That’s a lot of sales, all from established loyal customers. Statistically speaking it costs 5-25 times more to acquire a new customer than to keep an existing one.

 

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