The power of ‘The Repeat Customer’

I was struck by something on my recent travels I believe all entrepreneurs need to focus on in order to grow their businesses. This week I visited Berlin on Lioness business and it meant I had to change a critical part of my daily routine - my early morning cup of tea. This is an essential daily ritual I take very seriously! As is my want, when I’m visiting a city I like to get out of my hotel and explore my surrounds. So, on my first morning in Alexanderplatz in Berlin I find myself in a charming café sipping a wonderful cup of tea and better yet, also feasting on the most delicious vegan apple torte I have ever tasted. As all my fellow veganites will attest to, finding a good vegan dessert is a serious quest; finding one served to you as a breakfast pastry out of the blue is, well, heaven! Needless to say, over the course of the next three mornings of my stay in Berlin I started my day in precisely the same way: visiting the same café, enjoying the same super polite and efficient service, drinking the same wonderful tea, and yes, eating the same incredible vegan apple torte. Without planning it, or thinking about it, I had become a repeat customer for this business and will undoubtedly visit this café again when I return to the city. And, this got me thinking about the power and importance of the ‘Repeat Customer’ to our businesses. Repeat customers are our ticket to continually boosting revenue without having to put in a ton of work. In fact, experts believe increasing our customer retention rates by just 5 percent can increase our profits between 25 to 95 percent. I can assure you the most successful women entrepreneurs in our community all make this a focal point of their businesses. They genuinely care about their customers, they make sure they live up to their brand promises, they obsess about customer service, they turn customers into repeat business, setting up a relationship with a customer that will last for years. So, today think about how you’re going to grow this incredibly powerful asset for your business: ‘The Repeat Customer’.