Here is a chart that every business owner should print out and paste above their desk.
What does this chart show?
The bottom line shows the cumulative income of a business that has zero repeat customers.
The higher line shows the cumulative income of a business that has 20% of its customers returning.
Interesting, isn't it? That top line continues going up and up – like compound interest in a bank account.
Yet here's the funny thing: most businesses do NOTHING to encourage customers to come back. Instead, they're continually going after new customers.
That's why most businesses have incomes that look like the lower line in this chart.
At the least this strategy is shortsighted; at worst it's negligent. What would the investors, partners and spouses of these business owners say if they knew so much money was being left on the table?
What's even more crazy is previous customers are the easiest to sell to. After all, they already know and trust you.
When you look at this chart, there's only one conclusion: can you afford NOT to at least spend a few bucks a month sending a newsletter?