The Repeat Customer is King
by Jeff Davidson
A plethora of articles and books exist today that stress “making the customer king,” “staying close to the customer,” and upgrading the service component of your business. These are important steps in building long term business in any industry or profession.
Not for All Customers
Based on the Pareto Principle, 80 percent of your customers will account for only 20 percent of your sales, while 20 percent of your customers will account for 80 percent of sales. Staying in the forefront of all customers minds is not mandatory; you need to prioritize your forefronting efforts and focus on likely repeat customers.
Marginal customers and clients including, those to whom you sell infrequently must always be handled in a highly professional, helpful manner. The key is that your concerted expenditure of human resources and selling effort is made on those customers and clients that will remain so for the long haul. You can’t easily predict at the outset who will turn into a longterm customer, but fortunately by assessing your current customers base you can establish a profile of those who tend to become long term customers.