Do you know what percentage of your revenues is repeat business?

Before we get too deep into the New Year, we’d like to challenge you with another question. Do you know what percentage of your revenues is repeat business? If your answer is no, then how will you grow your business? Did you know it takes 5-7 times more money, time and effort to attract a new customer versus retain and upsell an existing customer?

According to Fred Reichheld, author of Loyalty Rules, and Bain Fellow (Bain & Company, Inc.) and Founder of Bain’s Loyalty practice, “an increase in customer retention of 5% increases profits 25%-100%.” So, what are you doing with your business brand to retain your customers? How are you consistent? Do you show up the same way every time walking your talk? How are you distinctive? What makes you decidedly different from your competition? How are you relevant to your market? Do you connect with your customers’ and employees’ values and needs yet are true to your values and needs as a brand? Check out more about Consistent, Relevant and Distinctive in our Ignite Your Business Brand DNA to Skyrocket Your Growth.

We invite you to share your success practices. We also want you to put yourself in the customer’s shoes and share your experiences of being loyal to other brands. Thanks in advance for sharing!