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Posted 28 April 2006 - 02:11 PM
Posted 30 April 2006 - 12:21 PM
1)I run a small business and keep a database of all my customers. When a customer repurchases from me I know it. But I have not measured how much is repeat business. I am not sure how to do it or how significant that number would be to operating and marketing my business.
2) would consider 20% a good number in my business. The old 80/20 rule. I could see in a service industry how 80% would be good, I can also see it in a industry like tea or batteries where the products will need to be replaced once used up could be 80%, But in my business, there are only a few people who purchase more then once in a year or 2.
3)My biggest problem is overcoming the “price” wars. I have many customers who want me to match prices. I can not do this and survive because of the high level of customer support my products need. I mitigate the price by offering exclusive articles and information that none of my competitors can offer. I have positioned myself as an expert in my field. I have an independent source of testimonials. I try to make my customers feel confident that when they buy from me they will receive the service and support they need.
I would very much welcome ideas to increase my retention rate.
Edited by Caissa, 30 April 2006 - 12:22 PM.
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