The Value of Repeat Customers
We’ve probably all heard of the 80-20 rule, which states that 80 per cent of our business comes from 20 per cent of our customers. That 80 per cent likely comes from repeat customers, people who return to us every week, month, quarter or year.
These are tremendously valuable customers, not only for the volume of business they do with us, but because of the time they save us and the confirmation they give that our work is good.
Repeat Customers Save Time
Because they’re a known quantity, our repeat customers save us time and effort. They know what we offer, how we prefer to work, what our price and payment terms are, and how we prefer to proceed. There aren’t likely to be nasty surprises on either end.
Finding new customers is hard work. While we should all make regular efforts to do this, it can be a long process from first contact to completed transaction. Repeat customers are past this stage. They know what they want from us, and that we can deliver. That’s why they return.
Repeat Customers Confirm Our Worth
Unless you get a comment of appreciation or a referral from a satisfied customer, the only way you may know that a customer has been happy the last time, is when you’re asked to do more work.
Of course, you could have satisfied a customer completely, but if you never hear back from your contact, you always wonder what happened. Did they find a better supplier? Did you disappoint them in some way? Was it something you said, or didn’t say? Vanishing customers usually remain a mystery, while repeat customers are solid gold.
Repeat Customers are Worth a Relationship
The more your customers work with you, the better you get to know each other. The more this happens, the easier your dealings can become. When the professional relationship is respectful, trusting and relaxed, the work process can go smoothly and lead to better results. This kind of relationship is worth nurturing.
Thank you!
This article is meant as a thank-you note – even a love letter – to all of you who continue to ask me to write or edit for you. I cherish my repeat customers, and hope it shows.
To those of you who haven’t yet dealt with me as repeat or even first-time customers, do get in touch! My repeat customers can’t be wrong. They know a good thing when they see it. My office is open; I am still accepting new, and especially repeat, customers. You will be welcome.