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

[Mary]

When a company produce or improve the quality of their initial products,goods or services, it should be marketed to their existing customers and not new customers, doing this will make the new product bloom over the former one.

 

[Usman Sattar]

Customers are feeling pressure to get more done with less, so many of them are reducing the number of companies they do business with. At the same time, companies are urging their salespeople to increase sales to present customers.

Salespeople who stay focused on the needs of customers are less likely to be unseated by special deals offered by competitors. They may also be rewarded with increased customer loyalty and repeat sales.

 

[Joyemmanuel]

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.

Both introducing new products to old customers and introducing already existing products to new customers will mitigate the growth of the business positively because old customers do not have to buy else where and you make new customers too.

 

[chicnthin]

I don't see a reason to pick between the two when you it is necessary for a business to attract new customers and retain the existing ones. Just ensure that you are offering the best quality products so the existing customers will remain loyal and attract a new ones.

 

[Sariana23]

The business will expand maintaining both new and old customers. And current and new products alike. The intention of the business itself is to have as many customers as possible, and for this it must update the products or maintain them, according to the demand of the target audience, which are the engines of the company.

 

[Odebunmi ajewamiri]

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Selling new product to your existing customers is a sing of growth /achievement made in the organization , and selling current products to new customer is also a significant growth that you are make your way to new set of individuals both are good and would sure helps in selling your product.

 

[Setfragil]

It depends on the type of business that you run, and it is good to always come with Innovations when you are doing business because it keeps you ahead of others.

Businesses expand faster by selling good products at reasonable prices to customers. Introducing new product to customers without good market research can lead to the business losing customers if the new products are not up to the standards of other competitors in the same line of business or selling the same products.

 

[Victor-t]

It depends upon how rate or ratio of your selling. If your sale is too much then both point will be fine for you. But in my point of view selling new product to existing or old customers will be better but if you want to expand then expand your customers. But quality of products should be improve of goods.

Yes my product will surely sell, is am selling new product than the current product, because I will like to convince my customer and am very sure they will surely believe me, as far as they are my customer.

 

[Cybersec]

it depends upon types of customers as well as products. If products are ascending or growing in season then the new customers are best as compared to new customers. On other hand, if products are not coming in the market then existing customers are best.

 

[Herzhan]

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.

My business will boom if I add another product to it. There is this adage which say " only one road lead to market place" you can't earn enough money if you stay on one business for life. Try two or three if there is capital and pray for God's blessings

 

[Taimoor Jutt]

Yes my product will surely sell, is am selling new product than the current product, because I will like to convince my customer and am very sure they will surely believe me, as far as they are my customer.

Yes this what a successful entrepreneur known for. You know the king of market is customer, so if you can convince costumers then your business is in Safe Hands, Everything depends on costumers happiness, so keep it up, many more success in your business.

 

[Imkevin21]

Your old customer mostly patronize you for the same product that they bought of you and it will also be good to add new product while maintaining and improving the existing product for the new consumer to try.

 

[Victor-t]

Yes this what a successful entrepreneur known for. You know the king of market is customer, so if you can convince costumers then your business is in Safe Hands, Everything depends on costumers happiness, so keep it up, many more success in your business.

Amen thanks

 

[Rimsha kanwal]

It depends on the type of product and it's quality. If your customer thinks your product sucks after buying, I'll advice you keep looking for new customers every now and then. Or you simply work on your product.

Customers are feeling pressure to get more done with less, so many of them are reducing the number of companies they do business with. At the same time, companies are urging their salespeople to increase sales to present customers.

Salespeople who stay focused on the needs of customers are less likely to be unseated by special deals offered by competitors. They may also be rewarded with increased customer loyalty and repeat sales.

When conducting sales training, here are three areas you should stress salespeople focus on when trying to increase sales to existing customers — along with strategies that can improve their performance in each:

 

[Smithkid]

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 you calculatetable income.

9But to expand you need to get more clients hence the drive for new clients or customers, opening new branches and networking

You have to keep both, because if you new customers and loose the old ones, your has pretty much not grown. So you new to service both the old and new customers

 

[George10640]

Old customers always have good deals. I think it is always good to retain and take what it needs to have them always.It those old customers that will refer you to new customers and that's how business grows. So long as the services are not compromised .

 

[Richard92]

Your business will expand when you sell to current costomers and also already existing costomers, if your business do not make new costumers then you are running at lost and if you are only selling to new costumers then you are also lossing too, so you have to maintain both old and new costumers.

 

[Obaterof]

Both selling to customers that have already know about the product and selling to new customers will improve your business because new customers don't know about the product yet , so you need to make them be aware of the products and what it does. while Old customers already know the quality of the products. so it's more easier to sell to them than the new customers. both will increase your business income.

 

[Thosynho]

Your business would greatly expand when you sells new products to new customers. But you should make sure that your products are genuine and real otherwise after selling to the newer customers they won't return back again and alps they won't tell their friends about your products. This is why it is very necessary to sell only original items.

It depends though. If you are a business man with a great track record of producing good products, selling new products to new customers won't be a problem at all because you a known business man.

 

[Aminat]

Selling new product to existing customers is a better idea cos they would have enough trust in your product knowing that your new product can not harm them.