Residual income comes from other people reacting to a single action by the business owner. What better way to secure residual income then through repeat business? At its very heart residual income and repeat business go hand in hand. The most successful who do it know this and that is why they are successful. All it takes is impressing someone once to earn their business and money again and again.
The large corporations know and believe in it. It is much easier to get repeat business than new. It is also easy to build upon repeat business and use it to create new opportunities for sales. Every business owner will say that repeat business is essential to thier success.
Repeat business is basically when a customer returns to buy again. They have already been there once, liked what they got and came back. Chances are they also told some friends or family about their experience, too. Referrals are a big business builder too. People are more likely to shop somewhere if they were referred by a trusted friend or family member than simply through a response to advertising. Repeat business is more than it seems. It shows the business owner they are doing something right and that they have great products. The business owner who gets a lot of repeat business is going to be successful because he is building up a customer base of loyal people who believe and trust in them. When customers become loyal they are usually customers for life.
If you have an online business you can take advantage of this opportunity by adding an e-mail capture field to your website. Through the use of an auto-responder you can set-up a series of messages, useful information, product reviews, or recommendations that your visitors would appreciate based on the theme of your website. Ask for your visitor’s e-mail address in return for this useful information and you can now continue to communicate with your visitors about products and services related to your market. This gives you the opportunity to turn your one time visitors into repeat customers and residual profits are soon to follow.
Repeat business is a residual income stream that is secure and guaranteed. There is no other thing in residual income business that means more. A business owner who is trying to discover the secret to success can stop when they discover the importance of repeat business. To capitalize on it an owner must understand how important it is. They have to treat these customers with the same loyal attitude they have. Many businesses have implemented customer cards that provide discounts and benefits to loyal customers. This is one example of a business capitalizing on repeat business. They are showing the customers they are appreciated and that they recognize their importance.
Overlooking repeat business and its impact is a fatal mistake any business owner can make. Owners need it to have that residual income stream that will make them successful. Every major corporation makes a large percentage of their profits from repeat business, which just goes to show how important it is. If the big guys are using it and benefiting from it then it obviously is an important factor in business success.
