Acquiring new customers is important but retaining them is equally important. There is a old saying that “Make new friends, but keep the old. One is silver, the other gold.” In your T-Shirt business your existing customer is like gold and doing all that is possible to retain them is one secret to building a t-shirt business that lasts. Similarly, a long-term customer is of more value than a single-deal customer, and it’s a lot less expensive to keep a current customer than to acquire a new one is 1 secret to building a t-shirt business that last.
One question that a store owner needs to asked is who is my oldest customer? The customer you’ve had the longest? Has he or she been with you since you started in this industry? Or are the majority of your customers relatively new?
Take a moment to evaluate what you are doing to keep existing customers, as well as what methods you are taking to acquire new customers. What makes your customers loyal? Do you make them feel special and appreciated? Do they know they are important to your business?
There are really only two types of customers: those who know and love you, and those who never heard of you. All businesses spend relative fortunes trying to get new customers and that will always remain important. But don’t spend the entire fortune on just attracting new customers. Spend some of those dollars keeping in touch with existing customers because you want to keep them.
One of the goals in growing your business should be that the same person you sold to today will still be spending money with you 10 years from now. That has been a key thinking behind us been able to scale our business from a 2 core customers. So don’t celebrate the close of a sale. Celebrate the beginning of a long relationship. People want to do business with people who appreciate them and look out for them. By applying this approach your customer base you will be on your way to build a business that lasts.