Will your business expand faster by selling new products to existing customer or selling current products to new customers?

[Oliver 20]

If your current customer base is small right now, you might need to focus on bringing in new customers to continue growing.

However, growing this way is expensive.

In the recent years, customer acquisition costs have gone through the roof — most companies go negative (lose money) to acquire a new customer.

 

[Ibrahim1]

Oh yes it will expand but it really depends on the products you really talking about and moreover the kind of area your office place is and how you advertise to people around you and far away from you, it will expand if you market your business even on social media

 

[Shoaib5600]

I think in both cases your business will grow because man is innovative. Everybody prefers something new in the market, so when you give a new product to an existing customer, he will definitely like it and on the other hand, if an existing product Giving to a new customer is also a great way to grow your business so more people will be attracted to your business.

 

[Adexgrace]

The answer to this question is in two ways depending on the location and goods or product you are into. Looking at the first part selling new products to existing customers is not a bad idea it shows the business is progressing and introducing of existing products to new customers means the business is also expanding.

 

[iamgroot]

To answer this ultimate question, you may want to compare how long it will take and how much it will cost your business to capture the growth with each option in order to determine which is the better course.

To find that out, here are three steps:

a. To locate a prospect, close the deal, and collect the cash, estimate the time required and the cost for your company.

b. When your business produced and sold the last new product, calculate the time it took and the cost.

c. With the lowest cost and fastest time to market, pick the option.

These three basis are essential when taking a decision to make, hope it helps you. Please share your feedbacks below.

Selling new products to existing customer will make them excite specially if they are your loyal and regular customers. They trusted you for consuming your old products and satisties them, what more if you introduce a new product to them.

 

[Goodday]

The thread question mainly depends on the quality of the product and the taste of the people within that particular business environment. If you want to introduce a new product, you have to first conduct a market test to see whether people really like the product or not.

 

[Mave24]

It's better to sell new products for loyal old customers because they already have build trust on the products that you sell and them seeing you introducw new products will give the feeling of assurance that your products will have that same good quality just like the others products that they bought from you.

 

[Khezo]

Well I think this depends on the type of product you're selling and type of traffic you need it doesn't matter whether the product is new or not all you need is traffic to the product so you have to look for the right traffic for the right product that's all

 

[Chizfab]

To me, both are very important, you should be concerned about maintaining the old customers and making new ones. There is no need to compare them, you need both to succeed. Find ways to lure new ones and extend your coverage.

 

[btaliat]

Businesses thrive in both instances. What customers are always after at times is the quality of your products. The old customers can still patronize you better when you keep on selling goods and service that of quality

 

[jay]

It doesn't matter whether it's same product to new or new product to old. What matters is your customer width should constantly increase on a daily basis, what you sell doesn't matter to your growth rather it depends on your customers width.

 

[tuna89]

Both are very important, any business person would understand these. You make sure you have a good record of your customers to enable you update them as regards new products and promos, you also need to target new customers, do make sure to market all available products to them for full patronage.

 

[Janita]

If you are selling items and products which are good but the traffic is not in large number so your products will not sold out because of not having large amount of customers.
You must need to get advertisement for selling items and products than your business will grow and people will put their interest to purchase things from you.

 

[Nimra Noor]

I

To answer this ultimate question, you may want to compare how long it will take and how much it will cost your business to capture the growth with each option in order to determine which is the better course.

To find that out, here are three steps:

a. To locate a prospect, close the deal, and collect the cash, estimate the time required and the cost for your company.

b. When your business produced and sold the last new product, calculate the time it took and the cost.

c. With the lowest cost and fastest time to market, pick the option.

These three basis are essential when taking a decision to make, hope it helps you. Please share your feedbacks below.

I Think so a business can grow faster by selling products to existing customers because our customers know about product quality they trust on us and with this trust they may buy any new product which we gave them

 

[Ryeetar]

For a good business you need both good and new customers keeping the old ones and getting new ones is the key to a healthy business. What I do for my business is find out what the demands my old customers and also make research on new products and produce it.

 

[Kinglegend01]

Both of them have their own advantages, you would definitely a new hit product better to existing customers because the customers would have gotten a strong confidence in the seller making it easy for them to buy any products he or she introduced to them so far they need it they won't even bother to go elsewhere to go and buy from another seller in the market.

 

[Hasan Raza]

Definitely your ideaa are good that Selling new product to old customers is one the most effective way to introducing the product to the public. This method is better than struggling to get new customer to buy the goods. The product get recommendation from the old customers then more people request for it

 

[Zevin]

If you want to expand your business you will have to retain your old customers as well as attract new customers. Your business will excel only when you are selling to your old customers as well as new customers. Your business will grow only when you sell existing products as well as introduce new products frequently.

 

[Emma Aneni]

From your question above, my answer may tread a different route, old customers are mostly people who are loyal to your business, they have enjoyed services from you and always comes back for, they help sustain your income.

 

[Kaindio Agnes Wanja]

To answer this ultimate question, you may want to compare how long it will take and how much it will cost your business to capture the growth with each option in order to determine which is the better course.

To find that out, here are three steps:

a. To locate a prospect, close the deal, and collect the cash, estimate the time required and the cost for your company.

b. When your business produced and sold the last new product, calculate the time it took and the cost.

c. With the lowest cost and fastest time to market, pick the option.

These three basis are essential when taking a decision to make, hope it helps you. Please share your feedbacks below.

Well,in my opinion i may say that your business will expand faster when you choose the two options.
If you choose to deal with the old customers it means that you will be stagnant and its good not to loose them because these are the loyal people that knows you and your services and they keep on coming back.
So you need to maintain them and network from other parts to get more and new customers for expansion of your business