Question

This is a Professional Selling Discussion!!

Please Answer in paragraphs as you're having a discussion.

In today's extremely competitive business environment, do you think it is more important to acquire new customers, or to try to hold on to your existing customers? Use critical thinking and course/business concepts to support your opinion.

• Your original post should be 3-4 paragraphs with 4-5 good sentences per paragraph.

Answer 1

In today's competitive business environment it is correct that companies should acquire new customers but it is also essential to hold on the existing buyers.

A long term buyer is more valuable as compared to a new single deal customer. Businesses have to spent less funds for maintaining relationship with existing buyers as compared with acquiring new customers.

This is not right that marketers should not go out and get new buyers but, if company can build on a revenue basis for a longer period it will be more predictable and profitable.