Max issues personal invitations to his store to a carefully selected group of individuals in the Denver area. His method works. In this article, we will cover the techniques that Max uses, the theory behind his methods, and proof that it is working. Let's begin with the theory. Most businesses lose between 15 and 20 percent of their customers each year.
Retailers lose even higher percentages.
From those loyal customers who remain, however, the profits can be significant. The acquisition costs of new customers, particularly for a small retail store, can be very high. It is not the casual transaction buyers - here today, and gone tomorrow. They rarely pay for even the cost of their own acquisition. The real payoff comes from the loyal customers who, over a period of months or years, move up from being customers to becoming clients and even advocates.