It costs as much to acquire 1 new customer as it does to keep 5 existing ones. In addition, you have a 70% chance of selling to an existing customer but only a 20% chance of selling to a new customer. AND existing customers typically spend 50% more than new customers.
Those are all the reasons why you should keep in regular contact with your existing customers. How you do it depends on your type of business and customer.
Here are some examples:
Phone and visit – the most time-consuming but remember that people buy people so this is the best way to build long-lasting relationships.
If you have an accountant, they should be your first stop for business advice. If you don’t have an accountant or they can’t help, BuBul has a wide range of experts available. For more business advice why not follow BuBul on LinkedIn?