We all work hard to gain new customers. It’s ingrained into our ethos to build our client base and in doing so, build our businesses. Are we forgetting our most important customers, our loyal customers, in doing so? The folks at FiveStars analyzed 14 million store visits from more than 1 million people and found that loyal customers spend about 10x more than new customers and end up accounting for 20% of most businesses revenue. Yet, all of us tend to forget those loyal customers and spend more time concentrating on acquiring new customers instead. No one is saying that we should forget new customers. The point of the findings from the research indicate we should just recognize the importance of our loyal customers and reach out to them more often. What are your thoughts about this and what do you do to thank your loyal customers?
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