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Are return customers more profitable than new customers?

Alex 2

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  • 2 months later...

According to this article aquiring a new customer can be from 5 to 25 times more expensive than a return customer, and that incresing customer retention rates by 5% increases profits by 25% to 95%.

I knew that return customers are way more profitable than new customers, but I didn't think it could mean such a great difference.

Well, surelly depends on the business itself but its a good reference for anyone to consider improving customer retention techniques. Loyalty programs are a good option for any kind of retail business to encourage customers to repeat their experience in your store.

And not only focus in pushing customers to come back, but a better idea is to research the reasons why customers are not coming back, undertand their experiences and learn from the mistakes we could have done to not repeat them again. I'd like to say that every upset customer is an opportunity to ensure the happiness 10 others.

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