New customer acquisition is, necessarily, an important way to grow business, and tracking those acquisition costs is key to determining the success of your marketing efforts.
Once you get those customers in, keeping them is just as important, however; those repeat customers can have a big impact on your bottom line.
To say that loyal customers buy more is an obvious statement, but quantifying that amount can help marketers understand why this group is so important. After one purchase, a customer has a 27% chance of purchasing again, the infographic states. But after a third purchase, a customer has a 54% chance of returning. Those types of buyers also spend more with each purchase, and they are much more likely to make referrals to friends.
Take the first step (it's free).
You may also like:
- Eight Growth-Marketing Lessons From WeWork's Rapid Rise (And Its Imminent Global Domination)
- How to Use Product-Market Fit to Drive Business Growth
- Budgets, Channels, and Technologies: Stats About Marketing Today [Infographic]
- Marketers Know AI Is the Future, But Do They Understand AI Today?
- The New Branding: Five Tips for Creating Shareable Brand Experiences