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What do you think of this statement: "It's always easier and less expensive to sell to your existing customers than to cultivate new ones"?

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Question added by Lina Samer , Digital Media Graphic Designer , iDirection
Date Posted: 2017/11/28
Syed Tariq Qamar Ali
by Syed Tariq Qamar Ali , Administration Assistant

I think, It's always easier to sell to both as long as your quality of goods are excellent with a reasonable price. Treat every customer like an existing customer. 

Samik Dutta
by Samik Dutta , Business Manager , Pulsar Muhendislik Turkey

Exisiting customers already adore your brand, quality and pricing and they have a certain degree of trust.

But new customers are much more circumspect and would prefer the "Try and Buy" propositions. Often cases, even your product or service is at par with competitor's offerings, newer customer has a tendency to revert back to their older brand, for emotinal attachment. Convincing them comes at a cost (examples-offering free items, discounts and cash back on next purchase can be deployed to gain customer loyalty from new customers). With exisitng customers who already are loyal, this is not the case. So selling and retaining old customers are less expensive and requires less effort.

Mohammed Awad
by Mohammed Awad , Regional Supply Chain & Operations Director , Tamakkon Co.

This is right because your existing customers know exactly the quality and prices you have but the challenge is always to get new customers to your life.

Mamoun elbaghir abdalla mhamad Eltayeb
by Mamoun elbaghir abdalla mhamad Eltayeb , Insurance agent / Producer , Albaraka Insurance Company

 Thank you. the statement is coorect , but in the other hand gaining new customer is important for expansion of business and increasing profit ,......... beyond doubt.

Regards

 

 

Mohammed  Abdallah Elnaggar
by Mohammed Abdallah Elnaggar , Solar Energy Projects General Manager , Benha Electronics

Simply this concept will not develop the company.

ايمن محمد عاطف محمد
by ايمن محمد عاطف محمد , Director of the control and regulation unit , ACOLID

A contradictory statement between ease and cost

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