300% more spent by repeat customers The obsession with advertising is directly related to the obsession with attracting more customers. Research has demonstrated time and again that gaining more customers is a priority for most businesses. Research has also demonstrated time and again that an obsession with more customers is not always the best approach […]

300% more spent by repeat customers The obsession with advertising is directly related to the obsession with attracting more customers. Research has demonstrated time and again that gaining more customers is a priority for most businesses.Research has also demonstrated time and again that an obsession with more customers is not always the best approach to maximising profitability. Consider the following findings from various studies: Top-performing companies generate more than 20% of their revenue from repeat customers Top-performing businesses get as much as 60% of their revenue from return customers While only 32% of first purchases will make a second purchase, 53% of customers who make a second purchase will make a third The top 10% of eCommerce customers are worth 6x the industry average, and the top 1% is worth 18x more. Repeat purchasing customers is one of the keys to maximising profitability. For many established businesses, repeat customers are…