Value of Repeat Customers
More Sales, Lower Expenses
There are ways to increase your motorcycle website’s sales while spending less money! One way is to focus more on reselling to previous customers. Another way to do this is to have your marketing company focus on your site’s customer service experience.
Lifetime Customer Example
In another blog article, I explained how Ray Ban’s excellent customer service made me a lifetime and repeat customer. This is because of the value they brought via their customer service. Next, I’d still buy Ray Bans even if their price was 10-15% more than other motorcycle sunglasses sites. And a lot of bikers will do the same.
As you can read in that article, I’m shopping by value, not price. And if your motorcycle site can do the same, it will significantly impact your company’s bottom line.
New vs. Existing Customers Stats
Now, we have an article listing online marketing statistics for many online businesses. Whether you are an expert or just learning motorcycle marketing, these new vs. existing customer statistics are of huge value:
- The probability of closing a sale with a prospect is 5-20%. However, your probability of selling to an existing customer is 60-70% (Invespcro.com).
- It will cost you 6x-7x more to sell to a prospect in your rider target audience vs. an existing customer (Hubspot.com).
- Keeping 5% more of your customers can increase your profits by 25% to 95% (Smallbiztrends.com).
- Almost two-thirds of motorcycle companies’ sales come from existing customers (Invesprco.com).
- Your loyal biker company’s customers spend 67% more than new customers (Thanx.com).
- 90% of your motorcycle target audience note that their customer experience determines if they are repeat customers (Microsoft.com).
The cost of acquiring repeat customers is significantly less than that of acquiring new customers. In addition, repeat customers buy more often and make more purchases overall.
Next, improving your motorcycle company’s customer service can drastically increase your sales, conversion rate, and bottom line. A/B testing your customer service will help you determine what works best. Further, what happens after your ‘s target audience clicks buy matters. If your biker site’s design is user-friendly, this will make you even more money!
Finally, we have more search engine & web services information and articles on our Marketing Academy.
