Making a sale to a new customer is great. But getting an existing customer to buy from you again is even better. Getting repeat business from existing customers is a result of building a relationship with that customer.

How do you do that? Make sure you are doing excellent work. When there is a problem – or even just a concern – respond immediately in a helpful way. Offer special deals for your most loyal customers.

You can increase your revenue 25 percent, 50 percent or even more when you put forth an effort to cultivate a relationship with your customers. Customers who feel they have a relationship with you are often willing to spend a little more to stay with you.

That's the power of a relationship with your customers.

Here are six benefits of creating a relationship with your clients and customers:

1.    Existing customers spend more money with you. Consider your own buying habits. Have you ever remained loyal to a brand, even if it meant paying a little bit more? But you did so because you had a relationship with that company. You either liked their service, their produce, or some other element enough to forget about finding a cheaper competitor elsewhere.

2.    Happy customers tell their friends about you. Customers who like the way you do business – and who hear from you regularly – are likely to tell their friends about you. They may forward your newsletter, pass on a coupon, or mention the great work you've done for them. And that spells referrals.

3.    It takes less effort to maintain an existing customer than to find a new one. Advertising costs can be quite high when it comes to finding new customers. But guerilla marketing efforts to stay in front of existing customers can be cost effective and a real option for cash-strapped companies trying to compete.

4.    Existing customers help you spot potential for change. Existing customers who are familiar with your product or service can help you spot issues with what you produce or can help you see the potential for adding something to your offerings. They can often be your first indication that something can be done better.

5.    Existing customers can help you find opportunities. Depending on the relationship you have with your customers, they may be open to sharing information with you about coming opportunities. For instance, a customer who visits your restaurant two or three times a week for lunch may have the inside scoop on the opportunity for a new contract such as a catering opportunity coming up. And the customer may share the information with you because of the confidence in your work.

6.    Existing customers seek you out first. Happy customers who feel loyal to you will often seek you out first when they need help in your area of expertise. They will trust the work you do and will be ready to listen to your advice or use your products.

Realizing even one or two of these benefits over time can have a tremendous impact on your business. My company has grown as a result of cultivating relationships with clients. If you follow specific steps to relationship-building, the same can happen for you. Invest in building relationships with your customers. It's an investment that pays off, many times over.