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

[Profuk57]

well it depends on how your business is doing currently if your business is doing well then you can sell new products to Old customers but if your business is not doing that well the best way to expand your business is selling the current products to new customers
and it also matters if the new product has more quality than a old one.

 

[Milz]

i would say you expand your business by selling new products to new customers beacuse by doing so new customers will have the urge to invite more customers to your business organization

 

[Tinaconcept]

For me selling new and quality product to new customers is key because your old customers are already accustomed to you though that does not mean you shouldn't give them new products too but getting those new customers that will increase your sales.

 

[Bilal0087]

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 your business growth depends on the the feedback of your customers, as customer satisfaction is very important to keep running business well. You should innovate your products constantly to make them according to the demands and requirements of the customers.

 

[Kelly5]

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 existing products that my existing returning and new customers like will make me good and long term profits. Selling newer kind of product will only do even better if I have done my research and see that my customers like such product.

 

[Aniwhyte]

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.

You're absolutely right, when your product is genuine and real you won't have any form of problem selling them off, your customers would be the one bugging you to supply more to them, it is always very necessary and important to sell quality and durable items.

 

[Greatguy1]

By selling new products to existing customers you create a new market for your loyal customers that doesn't require much branding much advertising and much convincing. Getting customers for new products would always require time and more effort. It always is important to maintain customers by adding products.

 

[Bazikd]

You can sell any products as long as your customers will get value for their money they will definitely buy but in business you need to keep innovating for new and old customers to keep patronising you.

 

[Kiwi]

Business expand in both cases, it depends upon types of customers as well as products. A business can grow faster by selling new products 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.

 

[Folaham]

Selling same products to new customer is better. Maximise the sales capacity of your existing product and make continuous improvement on them and sustain it before thinking of a new product unless if the acceptance level of existing product is low and you identified that a change of product is what they need

 

[Godleads1]

Your business would do well if you sell the right goods or products to your customers. These customers weather old or new, deserve the right goods and they have a way if informing themselves if situations.

 

[Ziki]

But I like text messages, because I get less marketing text messages than emails. In fact here's some little facts for you. At the moment text message marketing's getting 80% open rate with a 40% click through. When you look at email, you get about a 10% open rate with a 4% click through, so text messages are a really good way of marketing your business.

 

[Smithkid]

Your business and sales will expand when you sell current products to new customers, why is that, the more people you serve the more success you have, so adding new customers to your already existing customer list
Will surely boost your business.

 

[Bkoks]

Which ever way, your business will expand . Selling existing product to new customers will only help you to get rid of the old product. It's still a good thing , cos you won't loose on the old products . Selling new stuff to old customers to is also top notch . This will bring your more customers.

 

[KvngMurphy]

If your business is already going well then you can sell your old products to new customers and selling new products to old costumers both will expand your business in this sense. But people now a days check the quality so if quality should best then costumers will loyal to you.

You're right all that's been said is just how it should be and the way to go. If a business is expanding and on the fast route it's only ideal to start selling products to new customers in other to gain more grounds for your products. That way you can create and make new connects not leaving the old ones to be.

 

[Folaham]

Company strive on existing success story and acceptability of their brand. Once a brand becomes and household name, they leverage on their success and roll out new products to meet other areas of their customers need.
Before rolling out a new product one should build a legacy for his brand

 

[Youngdee]

Selling new products to old customers or existing ones to new customers they all expand the business. This can simply be explained as when you sell to old customers they help to market to others who haven’t purchase the goods and this will help move the product and expand the business. Same apply to selling existing product to new customers, all that is needed is the good customer’s feedback and reach out to others.

 

[Xerryl]

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.

 

[Chibson]

As a business owner, you should have the ability to retain your old customers and also have the ability to attract new customers. Retaining your old customers gives you the ability to sell your new products. It is therefore, important that businesses should put strategies in place that will allow them to attract new customers and also retain their old customers.

 

[MarieArie]

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.