Corey, Brian, and I ate dinner at Bistro 121 on Saturday night. The food was tender, the martinis were delicious, and the service was friendly. As the check came we gave the server our \$50 off coupon. The server told us to keep the coupon because she knew that we enjoyed the evening that we would be back. She was building loyal customers.
Loyalty is one of the most underused business methods to achieve success. People often forget that it costs much more to gain a new customer than it is to make your existing customers happy. Brian is the founder of another company named Apparel Unlimited. He sells high-end clothing to European customers. Brian has found that when he includes an extra gift in the packages for repeat customers, they are grateful and in many cases buy from him again. Zappos commonly upgrades repeat customers shipping to overnight.
This works and many business owners forget this. Leverage loyalty and give the best price the first time and you’ll be on your way to building a successful business.
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