Which sale is the most important one you will ever get from a client?
Most of you are probably thinking it’s your first sale with a new client.
Well, it’s not. It may surprise you to find out that a second-time buyer is at least twice as likely to buy from you as a first-time buyer.
The second-time client will buy again because you have proven that you add value to their life.
It’s human nature. The client, customer or patient who has had their wants and needs fulfilled comes back for more.
And, it’s very important to know where your profits are made. Are they made on the front end at the time of the first sale, or they are made on additional back-end sales?
Are your products and services the type that will result in repeat business?
If so, your initial sale could be small, yet designed to lead to many larger and more profitable sales.
Most businesses profit more from additional sales than they do from a first sale.
For that reason, it’s important to know whether you want a customer for the long term or if you’re making a one-shot sale.
Second time around
Many businesses are not overly concerned about making a profit on a first sale because they have calculated that their profits will come from future sales. In other words, they know that they will profit from repeat business.
If you knew that one out of every three clients who buys a policy from your agency will become a client for life, you might be more likely to cut your commission on your first sale.
The key is getting them “in the door” the first time.
If you can do that, then you know that you will profit in the future.
So while some of your marketing efforts should be designed to hook the first-time buyer, it is equally important that some of your marketing efforts are designed to bring customers back to you.
Make sure your marketing strategy includes efforts to both bring in new customers and keep the repeat sales coming in.
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