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
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 of service if they don't go to Verizon).
Usually cheaper to change an engine, but then you have an old car with a new engine.
get new and keep the old
To attract new customers and to let old customers do some business online.
When a new iPod touch is released, yes, the price for the older ones tend to get cheaper.
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.
Yes, you keep your old pet and gain the new hybrid
Keep your horse and get an old car. :)
am with straighttalkand need a new phone but want to keep my same number
It can be a little cheaper to reapolster depending on the cost of the apolsterer you choose.
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.
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.
Yes, it is usually much cheaper to refinish a bathtub than to buy a brand new tub. But it will sometimes depend on how bad your old tub is. If it is extremely damaged, you may need to get a new tub anyway.
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.
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
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 that old customers present compared to new.
No, you will have to trade in your old phone, pay some money and then you will recieve the new phone. Unfortunately, they do not give out free phones to customers.
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
this is impossible
in cheaper by the dozen they were 5 years old so they were at a preschool to be nice
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'.
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.
he was 12 years old