The simplest and most cost effective way to grow your business is to make sure you don’t lose clients. Unfortunately, and possibly because we often take customers for granted, it’s a strategy that is so often overlooked.
Have you ever done the maths on what your average spend per customer transaction is? That is, how much your customers spend on average with you each time they buy? It’s a lot easier to do than you may realise
The endless pursuit of new customers to grow a business often distracts us from looking after our existing customers. And there we create a potential downward spiral of more spending on marketing, more existing customers neglected and less sales to existing customers.
In our last blog we talked about the importance of key performance indicators (KPIs) to help grow your numbers. Of course the measures themselves are pointless if there is never any discussion about them.
