Social Proof - The New Referral Engine
Is Your Product or Service Out Where the Customer Hangs Out?
By S. Lakshmi Narasimhan Founder, Ignite Insight LLC | November 01, 2015
Businesses strive to keep afloat by ensuring that the revenue graph does not undergo too many dips and falls. However, this is easier said than done. When the inexorable laws of the business cycle take over, not much can be done. This, however, does not stop businesses from an effort to make the dips shallower. This is done in one major way by garnering repeat business.
Repeat business is an antidote to many revenue-based woes. For one, it ensures that customers are kept happy which is the reason why they come back.
Secondly, repeat business takes less effort on the part of businesses because customers have already bought into the products and services, which they offer and now patronize without much additional marketing. Finally, and this is where the bottom line effect can be seen, repeat business costs less since major additional marketing need not be unleashed.
It is the objective of most businesses to keep customers coming back. However, the key question is: how can repeat business strategy be executed effectively?