Every customer is valuable like silver, and the repeat customers are golden. Not only do they keep coming back, but they do a bunch of word-of-mouth advertising for you. One study out of the Harvard Business School found that “
increasing customer retention rates by five percent increases profits by 25 percent to 95 percent.” As national chains expand, innovative restaurants open and trendy boutiques thrive, it’s challenging to capture new customers and convert them to loyal, return customers. The good news is that it can be done with a little effort with some sensible measures.
Run daily, weekly or seasonal specials on a menu, and spice up your inventory on a regular basis. You want your repeat clients to be intrigued, to come in because there’s something different or innovative. These are your adventurous customers who like you, your business, your concept, and they thrive on new tastes, colors, trends and styles.
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