Increase Repeat Buyer Rates

by Kori Rodley Irons | More from this Blogger

23 Jul 2008 06:50 PM

As home business owners, we probably spend the majority of our energy and resources trying to attract prospects and turn those prospects into customers or clients. If you have a consulting business or a business where you work with just a few clients, you know how much energy goes into landing those big clients and how once you have them on board; it can feel like the hard part is over. In fact, as we are working to bring in new clients and customers, we also need to dedicate a fair amount of energy and effort to not only keeping the ones we have, but getting them to spend more money.

When I use the term "repeat buyer rates" I am borrowing from a term that is fairly common in the business world. What it means is the rate of individuals who have come into your business as first-time buyers who then come back and make subsequent purchases. I would even expand on that to encourage home business owners to try to get those repeat buyers to purchase more products, more expensive products, or to add services to their "shopping basket."

In order to improve your repeat buyer rates, you have to not only keep your existing clients and customers happy, but you also have to continue selling to them. Many of us like to think that once a customer gets their foot in the door, so to speak, our work is basically over. We just have to sit back and collect the cash. The reality is, however, that we need to continue to sell, cultivate, and nurture them in order to keep them. Remember that even though they have made a purchase from you-they are still getting marketed to by your competitors. Unless you give them very good reason to stay, they could easily be tempted away by a business that is working harder to draw their business.

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