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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).
What else can I help you with?
How much more does it cost to attract new customers than to keep old ones?
One or two times more.
How does a company get a good brand image?
A company gets a good brand image by considering the needs of the customer. If a brand is truly good, they will consider the customers in order to keep them, and attract new ones.
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.
How does a business gain new customers by using an advertising promotion?
If a company invests in an advertising promotion it provides more company exposure. Potentially some may see a promotional ad that will grab ones attention and perhaps generate new customers.
What is the duties of a sales rep?
It is to generate and close leads, educate prospects, fill needs and satisfy wants of consumers appropriately and therefore turn prospective customers into actual ones.
How much more does it cost to attract new customers than to keep old ones?
One or two times more.
Do old Laura Ashley catalogues sell?
I would definitely buy 3 old ones i missed to obtain/keep
Managing customers relationship?
Managing the customers relationship is very important if you are to retain the current customers and attract new ones.
Why does parents push the younger ones harder?
because they want their younger ones more better
What are the differences between sand and boulders?
ones harder then the other
Which is correct keep ones words or keep ones word?
keep one's word is correct
Are long-distance harder than short ones?
In general, yes.
Are metallic minerals harder than nonmetallic ones?
thats what she said
How do you keep your nose stud in so it doesnt fall out?
They will not fall out. I reccomend that you do NOT use the ones with the balls on the back to keep them in, because they get stuck. Use a ring, or something, the nose bones (ones with the ball) are no good. If you do, however, use them, and they get stuck, just haul harder.
How does the Five Four clothing subscription service work?
The Five Four clothing subscription service works by allowing customers to sign up for a monthly subscription. Each month, customers receive a curated selection of clothing items based on their style preferences. Customers can keep and pay for the items they like, and return the ones they don't want.
How does a company get a good brand image?
A company gets a good brand image by considering the needs of the customer. If a brand is truly good, they will consider the customers in order to keep them, and attract new ones.
Why customers is important in a company?
customer are the ones that take in the money to the business , basical their the ones that paying the employer and employee.
