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Repeat Yourself!
Written by: Jay Conrad LevinsonArticle Overview: I recommend the book, "Customer Loyalty: How to Earn It, How to Keep It", In the book, author Jill Griffin reports that referred sales are not only less costly to make, but also that referred customers also come ready to spend more money.
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Free Download - Q. What suggestions do you have for retailers who do e-mail marketing? By Jay Conrad Levinson |
Repeat Yourself!
I recommend the book, "Customer Loyalty: How to Earn It, How to Keep It", In the book, author Jill Griffin reports that referred sales are not only less costly to make, but also that referred customers also come ready to spend more money.
She cites an example of a tire shop, Direct Tire in Watertown, MA. Apparently they tracked sales from loyal customers as well as referrals and found that referred customers spent an average of $224 while repeat customers spent $173.
The president of the company, Barry Steinberg, found that "these big spenders have usually been putting off a major repair or purchase until they can find a repair shop they can trust. Once they hear about Direct Tire's service, they come in and spend." ... The book goes on to say that this store's prices are consistently 10% to 12% higher than the competition down the street, that profit margins are twice the industry average, and that 75% of sales are to repeat customers.
They all buy. Only some return time and again
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Article Tags: barry steinberg, big spenders, book author, customer loyalty, griffin reports, jill griffin, loyal customers, money, profit margins, referrals, tire shop
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Related Forum Posts
Re: Success
- I study success intently, and would like to share:
Here's two excellent and nearly identical success-formulas from a couple of the world's masters.
FIRST FORMULA:
1. Passionate Desire
2. Clear, Definite Purpose
3. Committed Decision
4. Take Action In Faith
(Bonus Secret Sauce: 5. Repeat Consistently)
I made a video about this, but am not allowed to link it yet. Google "Ryze Success Steps" for it.
Oh, and this is Napoleon Hill's (Master Of Success Laws)'s Formula.
SECOND FORMULA:
1. Passionate Desire
2. Understand It Is Already Done (Faith)
3. Relax & Allow It To Unfold (Go about your life calmly)
This one is courtesy of Abraham-Hicks (inspiration for the movie The Secret).
Hope that helps!
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