- Not only do repeat customers make more purchases, they more likely to make another purchase the longer they return. Once customers consider your store to be a trusted vendor, they will keep it in their rotation of shops. This likelihood of making return visits and purchases increases every time: while a first-time customer is only 27% likely to come back a second time, 54% of customers on their third trip will come back to make a fourth purchase.
- Loyal customers spend more at your store. Whether it’s because of loyalty incentives or because customers prefer your products and services, returning customers spend more. In fact, your 10% most loyal customers spend 300% per occasion than the rest. And, just like with the odds of a customer returning, their per purchase total goes up each time.
80% of the average company’s marketing budget is spent on enticing new customers and reaching out to a new audience. But a sizeable amount of your revenue comes from repeat customers, so it’s better to readjust your marketing campaigns to reach out to one- and two-time customers to start converting them into loyal return customers. Go to RAFIT Services for more strategies and tips.