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

[Ifective]

The latter. Selling current products to new customers will expand faster. This is because you already have an idea about whether the product is going to sell or not. Your current product is definitely your best bet since it kept your current customers with you.
However, selling new products to current customers is a 50/50 business. You could lose the customers if your products do not satisfy them

Post automatically merged: Feb 2, 2021

The latter. Selling current products to new customers will expand faster. This is because you already have an idea about whether the product is going to sell or not. Your current product is definitely your best bet since it kept your current customers with you.
However, selling new products to current customers is a 50/50 business. You could lose the customers if your products do not satisfy them

 

[Chumzy]

Weather new or existing customers the most important thing is to sell. New customers are important in other to expand the available market. Existing customers too mean a lot because they certify that the business is doing something right.

 

[Eyiteepraise]

Selling new product to the customer don't mean that the business can improve it's sales through that medium.
The important thing that must be noted is the taste of the consumers.It is the taste of he consumer that will determine the rate of sales of the business.

 

[Sunnytee]

Here's how you can take your business to the next level. ... If your customers want more of your product, faster delivery or additional services, ... Get to know your existing customers better.

 

[Miracles04]

Identify Your Ideal Customer: What is the point of having a business when you don’t even know your ideal market? The first ideal step to take when you want to grow your customer base is to know your ideal customers in and out. You have to do an understudy, know where they stay, know where they hangout, know what they enjoy doing and know what catches their attention. With this information, you can know how to easily meet with potential clients and sell yourself and business to them.

● Talk! Sell Yourself by Yourself: Although this style is widely regarded as the oldest form of marketing, it is still among the most effective. In a world where people are becoming increasingly distrustful of commercial adverts, word of mouth still remains a core, if not the most important, form of attracting new customers. Wherever you find yourself, talk about your business. Tell people about what they have to gain being your customer. Also, when you offer nice services to existing clients, there is a natural propensity they tell others about your services and in turn, you can be sure of finding new customers.

● Develop Your Online Presence: The world has gone digital: You probably will be left behind if you feel you can do without the social media. Over 80% of your potential clients are o social media. The social media is the easiest way to reach people far and wide. With the proper use of the social media, you can reach lots of potential customers. Facebook, Twitter, Instagram and other social media platforms are great stages to sell your business. Open social media accounts for your business today, use the platform to full effectiveness and watch how your customer base will grow in a jiffy.

● Develop a Website for your Business: Your business website is as important as your business name, even for small scale business. People are naturally doubtful; when you tell people about your business or they see your posts on social media, 60% of people will tend to go check your official website immediately after. Your website shows people how serious you are and tells them more about the business. To attract more customers, developing a website must be at the very top of your to-do list.

● Get Your Online Advertising Game on the Go: The internet has taken over. These days, people will rather watch YouTube than watch television. The truth remains that the world depends more on the internet for the information these days. Since people now spend a lot of their time on the internet, it is always a nice idea to follow them on the platform. The Google AdWords is the most popular advertising platform at the moment. There are different advertising rates and types available. Pick the one that suits you and get your game on the go.

● Flyers Never Go Wrong: Distributing flyers and business cards are always a great one. Anywhere you find yourself, if you don’t have the opportunity to talk about your business (or even if you did talk about your business), always remember to drop a business card that includes a telephone number, business address, social media handles and other basic information.

● Bonanzas: Offering discounts to existing customers on your products opens a huge platform for you to find new customers. Your existing customers will tell others about what you have to offer and how incredibly cheap they can get it. Do not make a mistake of not including a deadline to the discount. This may have an advert effect on your overall income, especially if you are just starting a business.

● Start Online Sale: This is totally different from having a website. If you are really serious about finding new customers, you should start selling your products online. Find online sale channels, register your products and get ready to make more sales.

● Google My Business: Ensure your business get listed on Google My Business in whatever directory your business fits into. This channel allows people to locate your stores online. People nearby have a higher tendency of locating your stores or business o this platform. Make sure you include your phone number when creating your profile and follow with your active business email address.

● Testimonials: One of the easiest ways to attract customers is the use of testimonials of existing customers. When you are sure you have provided a great service to a client, always request for a testimonial. Keep the testimonial simple and short so people won’t get bored when reading them. Showing people proof of how good you opens the door for new customers.

 

[singlej007]

Expanding of business do not really go with selling new products to new customers ond selling old products to old customers, I was confused when I read your trend title.. Expanding of business has to do with sales, if you make more sales you can expand your business to accommodate your customers coming in.

 

[Neeta313]

People love varieties. Selling one particular thing will not expand your business that much. Your business will surely grow when you sell new products together with the old ones. Because the old product your selling might not interest everyone but introducing a new product might interest those who did not show interest in the previous one.

 

[Samuel77]

According to my own point of view, I believe my business will expand when I sell new product to existing customer, this is because I value my old customer that my new customer. When you have old customer with you, it is very possible for your business to be standard, but with new customer that can leave at any time

 

[Oluwasayofunmi]

Answering the question will your business expand faster by selling new products to new or existing customers, selling new products either to a new or existing customers does not determine how fast your business will expand, the quality of your product will determine

 

[Samuel77]

According to my own point of view, I believe you business will expand fast by selling new product to existing customers. A business with existing customers is already a standard business, but a business with new customer is still growing not yet standard

 

[Jobiezue]

The best way to keep customers and still have new customers is to sell original products to them. Be known with a seller that seems original goods to her customers, by so doing you can keep and have more new customers who wants to buy original products.

 

[Josephjossy]

What matters is the product quality. If it's fake or below standard. Your customers will not buy after it the first time. So whether your sell new project or old product just make sure it is up to the best quality. That's what's matter

 

[Neta Sam(Samuel Odunlade)]

It depends on what the customer wants, if they are the one demanding for the new process an advice or value added products that can give more utility to the customers. Or you also feel it will help them and some Their problems

 

[Jobiezue]

It depends on what the customer wants, if they are the one demanding for the new process an advice or value added products that can give more utility to the customers. Or you also feel it will help them and some Their problems

Though some customers can be annoying sometimes but that doesn't mean we shouldn't look fur a way to appease them at least. The key to retaining them is to give them a quality service.

 

[Robrown83]

Both idea are so much relevant and important for business to grow. Meanwhile the existing customers are those that have trust, confident and like your product so you can introduce new product to them when you know with your research that the new product is good for them and also make them still loyal to your business. The new customers can also partake in both the new and old product.

 

[Cybersec]

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

 

[GIFTMICHAEL]

Your business will grow by selling new and current products to you customers. Every business owners need to build customers, it is not right to sale fake and cheap products to your customers no matter anything.

 

[eLdavis]

I think you actually need to do both for your business to move forward, create new brands for your old customers so they wount get tired. Humans tend to get tired when they keep using just one thing with notting new.
Look for ways to attract new customers always so as to increase your network

 

[Sheyemanu]

Concerning this question, I feel it depends on the type of product we are talking about here 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 to satisfy your customers and get good reviews, this is better than the first option

 

[Blessingedidiong]

I will suggest you sell new products to old customers. Old customers have been in business with you for a while and they know and understand how you operate. But if they don't appreciate your service,you can now sell existing products to new customers to add to your list of customers.