The Power of One Customer

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djbaxter

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What Is the Power of One Customer?
By Richard Weinberger, PhD, CPA, AllBusiness.com
December 14, 2018

One transaction with a company, regardless of the monetary size, rarely means success for the business. Of course, it can if the transaction is a once-in-a-lifetime event for a business, which is normally quite out of the ordinary. So, in the everyday course of business, one transaction or sale that stands by itself as an isolated situation will typically not have a profound impact on the annual net profit of the business entity.

When a customer is pleased, however, with the outcome of a business transaction, that same customer will repeat his or her buying experience. Whether the transaction was personal or business, the importance is having the event repeated, not just a second time, but time and time again over a period of years.

Repeat customers and repeat sales are basically a business annuity. Month in and month out, year in and year out, a continuous stream of money flows into the business from the same customers. Little effort and little marketing is required as long as these customers continue to be satisfied.

Fortunately for the business, the positive effect of this repeated purchase cycle does not start and stop with the original purchase. The purchase experience, hopefully, leads to casual word-of-mouth comments, direct referrals, or online testimonials and reviews. Regardless of the action, the end result remains the same: new customers, more sales, continued business annuity, and additional satisfied customers who continue to promote the business without effort or cost to the business.


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that's why the customer is king! in Malaysia we have a saying you can buy if you can afford it but the winner takes all
 
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Absolutely right. There's a principle of 250 in marketing where each person has at least 250 contacts in their phone book and those 250 contacts also has their own list of 250 people. If one happy and satisfied customer were to share their amazing experience with at least one of those contacts, then that person will also want to experience the service. And if they are happy with it, then they can't help but share it to their friends as well making the list of possible customers multiply by the hundreds or thousands eventually if excellent service is maintained.
 
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I read a lot of reviews like on Amazon and they are mostly useful yet somehow my app on iTunes got on the top 10 list of apps people keep without me doing any marketing! Someone or some people must have been talking. I'm no longer on appstore but I made a 2g web browser for iPhone 3gs
 
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it's true espacially in case of b2b companies sometime one customer can give you so much profit you just have to keep them satisfied and they will remain permanent customers of yours and doing so they become your advisory to help expand your business
 
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