How to get and keep recurring customers.
Everyone knows it’s easier to have an established business versus a start-up. The reason why can be whittled down to one single component: repeat clients.
Not only are recurring clients a set source of income, but they also bring with them a wide assortment of additional (and profitable!) advantages:
Economic Value: Returning clients offer more bang for your buck. Profit is the main goal of a business and it can cost you over 6 times as much to acquire a new client vs maintaining an existing one.
Word of mouth: The best recommendation anyone can get is from a personal source. When a member of your family or friend group says you “have to try it!” you are exponentially more likely to do so based on their opinion alone. Your photography business is no different. This eliminates competition and you having to sell yourself. Instead, they come to you- something no amount of money can buy!
Reasonably guaranteed income: You know which clients are likely going to be coming back for more and can plan accordingly. Does Mrs. Smith hire you for portrait sessions every April for little Susie’s birthday? Does Mr. Brown want a family mini session every Christmas? While not set in stone, you are able to have a reasonable assurance of income from your return clients each and every year.
Reviews and recommendations: 5-star reviews aren’t just for Amazon purchases and restaurants anymore. Reviews are expected and if a potential client can’t find any, it’s not unusual for you to get crossed off their list. You can’t have reviews without clients and you can’t have GOOD reviews without satisfied clients. The more positive reviews you have, the more confident a potential client feels and the more likely they are to value your services.
A study by The Bain & Company showed that repeat clients refer 50 percent more potential buyers than one-time buyers.
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