Most brands treat their past customers like second-class citizens.
~ Gyms only offer “new members” discounted training sessions.
~ Telecom companies only give “new customers” the best plans.
~ HRs only give “new hires” the highest salary.
The past customers?
“Nah. Most people are too lazy to switch vendors. We don’t need to offer them anything special… actually, let’s secretly raise their price when the contract renews.”
Customers know.
They KNOW when a brand takes them for granted.
That’s why many people jump from gym to gym… from AT&T to Comcast to T-mobile… to hunt the best deal.
(This is also why people who switch their jobs every 1-3 years will end up with higher wages. Because if you change jobs every 2 years—for a decade—this would equate to a 100% increase in pay.)
**Lesson for business owner**
When you’re scratching your head wondering why past customers don’t return…
Ask yourself –
Are you treating your best customers like kings and queens?
OR
Are you treating them like an afterthought?
Remember, your past customers are your most valuable assets.
These are people who bought from you before.
They know, like, trust… and have used your products before. They are likely to buy from you again—and again.
(…now, if your past customers HATE you, that’s a different problem)
Repeat customers are the definition of low-hanging fruit.
Start offering your best deals to past customers… and you’ll never have to worry about retention again.
To be continued…
– WYH