Mr Yum acquires MyGuestlist and Sprout CRM
read more here
Mr Yum acquires MyGuestlist and Sprout CRM
read more here
Mr Yum acquires MyGuestlist and Sprout CRM
read more here
Mr Yum acquires MyGuestlist and Sprout CRM
read more here
Mr Yum acquires MyGuestlist and Sprout CRM
read more here
Mr Yum acquires MyGuestlist and Sprout CRM
read more here

How valuable are return customers to a hospitality business?

Return customers are extremely valuable for a hospitality business for a variety of reasons.

Return customers are extremely valuable for a hospitality business for a variety of reasons.

  1. Repeat business is more profitable: Repeat customers are more likely to spend more money per visit and make larger purchases than new customers. They also tend to be more loyal, which can result in them spending more over time.
  2. They are more likely to refer new customers: Satisfied repeat customers are more likely to refer new customers to your business. Positive word of mouth can be an extremely powerful marketing tool, and it can also help to increase trust in your business among potential customers.
  3. They are less costly to acquire: Acquiring new customers can be an expensive and time-consuming process, whereas it's typically less costly to retain existing customers. It can be much more effective and efficient to focus on keeping existing customers happy rather than constantly seeking out new ones.
  4. They can provide valuable feedback: Repeat customers can provide valuable feedback about your products or services, which can help you to identify areas for improvement and make adjustments to better meet their needs.
  5. They help to create a sense of community: Repeat customers help to create a sense of community around your business, which can help to increase customer loyalty and make your business more attractive to potential customers.
  6. They help to increase brand awareness: Return customers have a higher likelihood to remember and recognise your brand, compared to one-time customers. They are also more likely to advocate and recommend your brand to others.
  7. They can help to increase predictability: Return customers can help to increase predictability in your business, which can make it easier to plan and budget for the future.

Return customers tend to be more profitable, refer new customers, less costly to acquire, provide valuable feedback, help create a sense of community, increase brand awareness, and improve predictability in the business. 

A hospitality business should aim to consistently provide an excellent customer experience, build strong relationships with customers and incentivise them to return.

Contributors
Share this

More like this

Case studies
5
min read

Casey Jones Pub Doubled Return Diners with ResDiary + Connect by Mr Yum

Read more
Operations
4
min read

How other industries have personalised their products

Read more
Operations
4
min read

The value of a personalised customer experience

Read more