Last year, 1,320 people bought one of my courses. And 54% of those sales came from existing customers. That’s massive. And this rate increased over time.
In business, you need to focus on the long-term. Getting new customers is important. But serving your existing customers well ensures that your business has a sustainable source of revenue.
It can cost five times more resources to attract a new customer, rather than retain an existing one. When you increase the retention rate by a mere 5%, your profit can go up from 25% to 95%. It’s simply more beneficial to retain existing customers than search for and pitch to new ones.