If you’re a developer or digital creative, and are freelance or run your own business, then you probably know that repeat business is great business, but not without its demands.
Bain, the management consultancy, have estimated that a 5% uplift in repeat business, results in a 30% growth in
profitability. BUT to get this repeat business, we have to be trusted by the client, a privilege which can take time and skills to build.
You may work on the web because you love experimenting – making stuff and piloting it – and a certain guaranteed level of repeat business will allow you time to do this. BUT your clients for repeat business will need to be confident that you are making what you do for them a priority and not taking their custom for granted.
When we get repeat business from a client, we get presented with an opportunity to learn more and more about that client’s sector and to drill deeper and deeper into what makes it tick. We can build specialist reputation. BUT it helps if that sector is a thriving one and one where there is growth… We wouldn’t bet on coffee shop chains for instance currently but artisan foodmakers – now that’s a whole different racehorse…
Combining knowledge of a particular sector plus your own interest can take you to projects you never dreamt possible. In South Wales for instance,Founders Hub, Joel Hughes, Cardiff Start, Indycube and Techhub Swansea are all doing amazingly interesting stuff which the rest of us can benefit from. BUT our repeat business clients will need be kept simmering during the thrill of the new; we’ll need to have regular ways of letting them know things we’ve come across which could be relevant and useful. (Very few people seem to do this. Ahem, ourselves included…*smacks own wrist)
We’re currently witnessing explosive growth in on and offline learning, and what you may take to be run of the mill, repeat business, someone else will be starting off learning. So your repeat business can be taught and monetarized futher, possibly – and through all the various channels we use for learning these days. Designing learning in what you do can be a hugely refreshing exercise in how you interpret your craft. BUT again you may need to keep in check haring off and starting an online school (!) with care and attention to those lovely repeat business clients who are your profitable backbone…
And on this note, local developer Phil Murphy and myself have produced a Repeat Business Skills for Techies course which we’ve on offer until the end of August. Normally $79 but with this link, just £17.43 or $29 dollars. Udemy is worth a visit anyway – if only to marvel at its vastness.
Back soon with details of autumn events.