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The Myth Of Getting New Customers
By nikastew
In my books and newsletters, I've often stated the statistic: "It costs five times as much to acquire a new customer than to get business from a past one." Well, it turns out I was wrong. Or at least, the numbers have changed. According to The Harvard Business Review, it is now 6-7 times more expensive to gain a customer than to retain a customer. Plus, a study showed that repeat customers spend 67 percent more!

It seems pretty obvious that we need to spend a high percentage of our marketing energy and time focusing on our current and past clients. The most effective way to do this is to keep in contact on a consistent basis - through mail, phone, and email.

The best thing I did for my business was start an email newsletter. Most of the successful designers I work with send a regular email newsletter. It goes out to clients - past and present. The newsletter not only reminds clients about you, but it gets forwarded to friends, leading to referral sales. My colleague

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