When we think about growing our revenue, the first thing we often task ourselves is how to get more customers for our business. What about your existing customers? Looking for ways to increase revenue through your existing customers is not only easier, it can be more profitable than spending time and money to acquire new customers.

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Comments


Written by HeatherStone
435 days ago

Hi Gary,

Of course, the old adage that it is more expensive to acquire new customers than to retain old ones should always be considered here. Most or all of these points deal with getting more money out of the customers you already have and that makes a lot of sense given these are the customers who already know you and value your product or service.



Written by GaryShouldis
435 days ago

Finding new customers is important, but figuring out how to increase revenue with your existing customers is just as important, and as you noted, less expensive. Thanks for the comments Heather :)



Written by bigmoneyweb
436 days ago

Very informative!!

Focus on listening to your customers. Take heed of what they say even if it means that you have to change direction – it is better to do so in the long run. There are many companies who create other products or services to enhance their existing products, just to be within the reach of their customers. The longer you retain and satisfy your customers, the longer your business will prosper and thrive.

Thanks for sharing!



Written by GaryShouldis
436 days ago

Great points Valentine, looking for opportunities to add value for their customers is the cornerstone of a great business. Creating enhancement products and services to compliment your core ones is a great way to increase revenue with your existing customers. Cheers!



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