Customer expansion: what are the advantages for the company?

[bitheerani319]

Customer Expansion is a strategy in which the company offers something additional to customers at the time of purchase, thus improving its profit without increasing the cost of acquiring new buyers.

What you will see in this article:


What is Customer Expansion?
Advantages of Customer Expansion
Want to know more about this model? Discover the advantages of investing in Customer Expansion!

What is Customer Expansion?

Winning new customers is always a long task that requires call number list investment: it is necessary to strengthen marketing and communication actions to attract the public and stand out from the competition; have an intriguing sales campaign ; have qualified salespeople to overcome all objections from people and close deals; have diversified purchasing and service channels, in addition to offering quality delivery.

All of this requires investments of resources, effort and time — and none of this is cheap or easy for any company.

It is no wonder that one of the most well-known sayings in the world of management is the following: it is more economical to retain existing customers than to win new ones. After all, they already know the brand and its positive points, and the company no longer needs to dedicate so much effort and time to presenting its products and services.