Everyone knows you make more money selling more to existing customers than you do from new customers.
But most promotions are focused on special deals for new customers.
That’s expensive — and it often pisses off loyal customers who feel screwed.
When’s the last time you improved things for existing customers?
Here’s a fantastic example from Tesla (emphasis added):
The Tesla Model S drive unit warranty has been increased to match that of the battery pack. …
Moreover, the warranty extension will apply retroactively to all Model S vehicles ever produced. In hindsight, this should have been our policy from the beginning of the Model S program.
To investors in Tesla, I must acknowledge that this will have a moderately negative effect on Tesla earnings in the short term …However, by doing the right thing for Tesla vehicle owners at this early stage of our company, I am confident that it will work out well in the long term.