Recession Tip: Increase Percentage of Repeat Buyers

[mandy]

The number-one way to raise profits during a recession is to increase the percent of customers who are repeat buyers. Repeat buyers are nearly always far more profitable accounts because they're cheaper to market to and easier to convert than anyone else. Nearly every marketer can improve repeats with a few simple steps, no matter how tight their budget is right now. Here's a real-life story to inspire you:

A few years back, Leon Osborne, President Osborne Wood Products, conducted a quick research project to find out how many customers of his table-leg division were repeat buyers. He told MarketingSherpa, "The majority of our customers were first-time customers. Although our business was growing and everything looked good, that was alarming to me."...

full article: http://www.marketingsherpa.com/article.html?ident=30687