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Increasing the number of returning customers you have can have a huge impact on your business. In fact, by increasing customer retention rates by just 5% can increase your profits anywhere between 25% and 95%1.
So it really does pay to keep customers coming back.
Repeat customers:
To help boost your regular customers, we’ve put together these articles which outline some practical ways to nurture repeat business.
Four ways to build greater loyalty
When it comes to business, there’s nothing better than a loyal customer. Which is why we’ve put together this simple guide that outlines some of the things you can do to keep your customers coming back time and again.
Five ways to build your digital presence and boost repeat business
Social and digital channels offer powerful tools to retarget and reengage customers, so you can build on the success of your business. This guide will help you better understand how they work and how you can get them working for you.
How to give your customers a great experience every time
Customers who continue to have a positive experience with your brand and your business are often more loyal, spend more, and can become your advocates.
To compare the spending behaviour of your repeat and new customers, or to find out their demographics including age, gender and where they are coming from, visit CommBank’s free business insights tool Daily IQ, available in NetBank, under the View Accounts menu.
1 Loyalty Rules! How Today’s Leaders Build Lasting Relationships, Fred Reichheld, Harvard Business School Publishing, September 2001.
2The Value Customer Loyalty and How you can Capture it, Bain & Company, Inc.
As this information has been prepared without having regard to your individual and/or business objectives, financial situation or needs, you should, before acting on this information, consider its appropriateness to your circumstances and seek professional advice.
Daily IQ has been prepared as a research tool for general informational purposes only and should not be relied on to make business decisions or for account reconciliation. The information may be incomplete or not up to date and may contain errors and omissions. Any projections and forecasts are based on a number of assumptions and estimations, including future events and contingencies, which may be inaccurate. The insights come only from CommBank debit and credit card transactions, including EFTPOS on your business’ CommBank merchant facilities (including online transactions since 27 November 2015). Data is based on primary cardholder. The data may not be what you expected if:
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