Marketing, branding, and sales are all about searching out qualified leads and delivering products and services to people who want and need them.
Entire industries are dedicated to those processes, and their complexity is not to be underestimated. But customer retention is more valuable than a qualified lead to any merchant.
A returning customer has given you a wealth of value above and beyond the initial purchase. The returning customer has proven beyond all possibility of doubt that you have a product or service that has value and that people will seek out and buy.
They have given you an existence proof of a real-world demographic on which you should focus future marketing efforts. They have also given you the most compelling evidence for the true market value of the things you are selling. A returning customer may have given you valuable feedback about the things you sell, their experience with your brand, and the quality of your customer service. That's why good customer service tips are so valuable.
But unless you're just looking to make a single sale and retire under a palm tree somewhere, all of that information is far more valuable than the money you got out of the transaction. That information is what will make it possible for you to continue to do business and boost your bottom line.
There is one final thing the returning customer gives you: continued business. In the final analysis, existing customers who come back are the living representatives of your bottom dollar. They are your patrons, and you want to do whatever it takes to keep them happy and loyal customers, and keep them talking about your business to friends and family.
We create customer loyalty in three ways: valuable products and services, quality customer service, and effective customer loyalty programs.