5.5 Understand the Power of Existing Clients.

The expense of acquiring a new customer is typically five times greater than that of losing an existing one. This means that after they’ve completed a purchase, you shouldn’t stop marketing to them.

Determine your prospects for cross-selling, upselling, and recurring business. Your current clients already know, like, and trust you since they have already made a transaction from you. If you’ve offered a positive experience, you’ve given them a cause to do business with you again should the need ever arise. You should still delight your customers even if the necessity isn’t present (in situations where it’s a one-time buy with no upsell opportunities). Word of mouth marketing is a potent (and cost-free) tactic.