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Do you think that acquiring new customer is expensive than retaining the old ones for new products? Explain.

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تم إضافة السؤال من قبل Muhammad Adeel , Sales And Marketing Executive , TANZEEM HEAVY EQUIPMENT RENTAL LLC
تاريخ النشر: 2014/09/06
zafar abbas minhas
من قبل zafar abbas minhas , Freelance Writer , DAILY MASHRAQ

YES,,,, THATS TRUE, IF YOU GO INTO CALCULATIONS ,,, IT COST MUCH ,,, SO IT IS ALWAYS HANDY TO WORK ON RETAINING THE OLD CUSTOMERS BY EFFECTIVE STRATEGIES ========   GOOD DAY

prashant gupta
من قبل prashant gupta , MANAGER , ING LIFE INSURANCE CO LTD.

retaining old customers would never be costly, as the understanding and bonding matters a lot. u can take business from old ones and even they could help in generating new contacts without expense.

مستخدم محذوف‎
من قبل مستخدم محذوف‎

According to retention dynamic and marketing funnel theory : acquiring new customer is5 times more expensive than to retain old one

in all cases your annual customer attriation must not exceed10%

Obviously Acquiring new customers is expensive than retaining the old customers coz already a bond has been established between the company and the customer.To retain all we have to do is to focus on Customer satisfaction.But To acquire new we apply various methods like Advertising etc which cost the company.Moreover retaining the old Customer itself a way of marketing and advertising coz it is through word of mouth our product is spreading ovr the market.Another most important thing is marketing is all about creating needs in the case of old customer need has been already created.

Nila Eslit
من قبل Nila Eslit , Content Writer for Fitness web , George Allen

No.  I mean, it's not necessarily be expensive if you know how to optimize your marketing effort and strategies.

Raafat Sallam
من قبل Raafat Sallam , Organizational Development and Training Consultant , Training Centers, Marketing Organizations.

It is the main concept of marketing, i.e., demand management.

If we make the required PR with our old customers, then aquiring new customer is more expesive than keeping the old ones.

IRPHAN GHANI
من قبل IRPHAN GHANI , Senior Management , A

Yes it is and that's where customer engagement programme plays an important role. However with changing scenario and use of technology to reach the end users, the impact is getting minimized.

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
من قبل VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

This depends upon the Quality of Goods and Services provided: i.e Historical considerations

If enjoy a very good reputation from your existing clients acquiring new customers will be comparatively expensive.

For existing customers a nice presentation along with sharing of essential inform will do. 

 

Yacob Mezil
من قبل Yacob Mezil , Marketing & Business Development Manager , Art Dimension Co.

If you think outside the box you could come out with many different ways to acquire new customers. Social Media is one of the cheapest ways to do so, among other medias.

Ara Peltekian
من قبل Ara Peltekian , Managing Director - Partner , I.CON sarl

Why is one exclusive of the other. Do both simultaneously and the new customer gets on board at zero cost.

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