Is it cheaper to keep old customers or get new customers?
The answer to your question depends entirely upon what you need to do to keep old customers versus what you need to do to get new customers. It also depends on your industry. As a lawyer, I get a lot of business by word of mouth. I keep my old clients by giving good service. I get new clients by advertising, owning a website to market my firm and by participating in forums like this. I get new likes from referals form existing clients. I can't say there is a definitive answer to your question. It might requiress less EFFORT to retain existing clients, but that doesn't necessarily translate to a valid cost comparison.
It also depends on what it is you do for a living? If you are like me and you specialize more in Outside sales or Executive outside sales, most of the time it costs more to keep the existing customers. But you DONT EVER want to just focus on the cheaper way to go. Or to just focus on new customers. Since its the existing customer base that will be the ones making the big purchases, giving you referrals and things of that nature.
But in this line of sales its not out of the ordinary to be buying them fancy dinners/lunches, buying them drinks, taking them on trips, etc....and that can get real expensive real quick.
== == Additionally, in marketing terms, it's said that it's eight times more expensive to get a new customer than to keep an old one. If you serve a customer well, they will be a repeat customer. It costs more from an adverstising and time standpoint to generate new customers.
Ryan from the OFFICE told Michael scott" it is ten times mor expensive ot get a new customer" and Ryan goes to business school. He Knows man Read More
It's much more difficult and expensive to obtain new customers than keep old ones. To get new customers, companies have to convince them that it's worth leaving their normal brand (for example, Verizon trying to convince Sprint customers to leave Sprint for Verizon). It's much easier and less expensive for a company to offer their current customers discounts or deals if they consider leaving for another brand (i.e. Sprint offering their customers a free month… Read More
Usually cheaper to change an engine, but then you have an old car with a new engine. Read More
To attract new customers and to let old customers do some business online. Read More
When a new iPod touch is released, yes, the price for the older ones tend to get cheaper. Read More
Marketing is a continuous process because, customers demands are always changing. Out with the old and in with the new especially in a world that is always changing and improving. Marketing must keep up with the changes to satisfy their buyers and keep interests. Read More
Yes, you keep your old pet and gain the new hybrid Read More
Because it is a lot cheaper to recycle old (and I do mean old) shows from Food or HGTV than it is to broadcast new shows. Read More
am with straighttalkand need a new phone but want to keep my same number Read More
Keep your horse and get an old car. :) Read More
Lots of free time? Okay, maybe customers will stay with you longer and even pay higher prices knowing you won't deliver shoddy products or whatever. Since they stay longer you have less advertising than you would have if you had to generate brand new customers each time. And with older, reliable customers you have an idea of the credit risk as opposed to new customers. And you have an idea of the amount of complaints… Read More
It's always better to recycle (and cheaper too) ! You can upgrade a computer's CPU and RAM to a faster speed - cheaper than buying a new computer. Read More
The new one is cheaper in price and a few features are changed. The old one was about $100 more than the newly released version. Read More
Yes they are one is because they are cheaper two you can take new parts from new cars and put them on it but u can't take old parts and put it on a new car its like the saying you can't teach a new dog old tricks but you can teach a old dog new tricks Read More
well, if you start a new game and save then you lose your old account, but, if you do NOT save on your new account then you can still play your old one Read More
Would it be worth the extra cost to replace a vinyl liner with a new gunite shell built inside old 15x30 pool or stick with the vermiculate bottom and a new liner since this one is 15 and leaking?
Think of it like this. This liner is 15 years old. How much is going to cost me to keep on fixing this one? How much is it going to cost me to put in a new one? More than likely, it will be cheaper to replace it. Good luck:) Read More
Yes, you do get a new number with mobile phones, but if you had a phone before and want to keep that same number for your new phone, you can keep your old number. Most companies will charge a small fee for that, but if keeping your old number is important to you then it is worth it. Read More
How old is nigel kyle baker what grades are they in of the movie cheaper by the dozen cheapet by the dozen now cheaper by the dozen 3?
in cheaper by the dozen they were 5 years old so they were at a preschool to be nice Read More
A restaurant refers to a place where people pay to sit and eat meals that are cooked and served on the premises. The reception at a given restaurant is very important because it is what will brings new customers and retain the old customers. Read More
this is impossible Read More
Maybe, but you will need a college degree in electronics. Cheaper to just buy a new one. Read More
the john godwin should not increase the pricing for long distance telephone services for their old customers as number of emotional appeals from elderly customers who regarded phones service as their lifeline to the outside world. Mr. john Godwin can recover his loss or earn profit by adding new customers, improving their services and by providing new services. Read More
When you're going to meet your new friends take your old friends with you? Simply talk to new people and hang with them, but don't ignore your old friends. You should make new friends and keep the old because your old friends you can trust because they have been your friends longer and if your new friends don't like the old friend tell them that they have to deal with it just say 'Big woop'. Read More
Old Spanish Customers - 1932 is rated/received certificates of: UK:U Read More
In the 2003 movie 'Cheaper By The Dozen' Blake WOODRUFF (Mike Baker) was roughly 8 years old. Read More
I think it should be Nissan sunny ...cheap and best...the new compressor is cheaper than the old one Read More
you need an data transfer cable Read More
yes. if you have an internet router, and add wifi, you can keep both Read More
Is it cheaper to renew your registration and transfer your plates to a different car plus a title transfer or to surrender the old plates and do a new title and registration in IL?
I would keep the plates and transfer to the other car. Either way you will pay more. One of the things that is not clear is that if you are giving up the first car for another car or if you will have two cars. If you are selling the first car don't pay for the new registration and have the new owner pay for it when they buy it. If you are keeping it… Read More
It's usually cheaper for companies to use and maintain old software than it is for them to have new software written and tested. Read More
There are places that are cheaper, they are the ones where you bring in your old ink cartridges, and they inject them with new ink. It's cheaper and better for the environment because it cuts down on plastic that will be thrown away. This is also what makes it cheaper, you are only paying for the ink, instead of the cartridge and ink. Read More
Sure. Actually the start up is cheaper since your coverage hasn't already lapsed. His co. will be more than happy to cxl out your old policy for you. See which way is actually cheaper. If you are living together & keep individual you may not be cross covered on each others vehicles. Find out & make sure you are if you keep things as they are. Read More
Trade it in on the new car, sell it, keep it, or donate it to charity. Read More
They trade it in, keep it or sale it them selves. Read More
No Read More
new and old because the old one is a TV. show and little boys and girls can learn new things that is why they still keep it on the air. The new one is perfect because they got new toys out and they got a new web site and games are on the web site that what makes the old one better so the the old one is better Read More
Go to your local car breakers, they should have it of an old similar car and on to the shelf. be allot cheaper than buying new. Read More
Sarah Baker was a character from the Cheaper By The Dozen films, played by Alyson Stoner. She was thirteen years old in the second movie. Read More
Replace for a new one, but you needn't to forget your old love. Keep it in your heart, and divide it with your new love. Read More
cheaper land Read More
If you are very close to your good friends then you should never turn your back on them to make new friends. Even though individuals have old friends there is no reason they cannot make new friends and every once in awhile introduce the old with the new. If you only have one good friend keep them as a good friend but get more friends. You might have to keep your close friend as your… Read More
The answer, is what we do today. We can try to keep the old, or try to make the new. Read More
No. Read More
No, not at all. Keep it if you want. Read More
5 years old Read More
She was 22 years old I believe. :) Read More
Well, Taylor Lautner was born in 1992 and Cheaper by the Dozen 2 was made in 2005, so he was around 13 years old. Read More