QOTD - 190123


The leaders of great businesses have a penchant for creating businesses with lots of repeat customers. Repeat customers are the ones that drive large profit margins. Having lots of returning customers means you don’t have to work as hard, nor spend as much money, attracting a new one. Repeat customers are also more likely to refer friends of comparable quality and value. However, even the most loyal customers need a reason to keep coming back, so always be looking for new ways to encourage their regular return. What if you have a product or service that people don’t use frequently? Then change your thinking about who you might need to cultivate. Repeat referral sources - people who consistently send others to you - might be the gold mine you need to cultivate.