Monday, August 2, 2010
Tip#18: Profits are Created by Your Share of Loyal Customers, Not Your Share of the Market
Most companies have a business plan that benefits from repeat customers, but a lot of companies forget that current customers are always the lowest hanging fruit when it comes to direct marketing. Spend more money on your good customers, and they'll spend more money on you. Cross-sell them on products they will be likely to purchase. Model their behavior and adjust yourself to fit that behavior. Tell them your collective story to build a more emotional tie to your brand.
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