Keeping old customers is better for your bottom-line

It costs six to seven times more to acquire a new customer than to keep an old one. Be sure to support your old customers and make them a priority. New customers should not be the only ones reaping the benefits. Many times people will offer a special deal to new customers to help drive them through the door but you may lose old customers because they feel like you do not value them enough to extend the offer to them.

Humans are a motivated species, and it’s very difficult for us to be satisfied with what we have. We always want more. When your business is not quite performing at par it is easy to fall into this trap. Make sure you are paying attention to your existing customers and giving them a premium experience, you can upsell and cross sell them. Say “thank you for your business” when they leave. Do special things for them from time to time as if they were brand new customers and you were trying to impress them.