Grow Your Business
July 5th, 2010 Leave a comment
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There are three basic ways of growing your business:-
- Number one. Attract more new customers.
- Number two. Get your existing customers to buy from you more
- Number three. Get your existing customers to spend more every time they buy from you.
Number one is the most expensive step. It costs much more to acquire a new customer. However, most businesses use this strategy first rather than last.
Number two is the second least expensive step because you have developed a relationship with them and established your credibility.
Number three is the least expensive step because there are no marketing costs. It also happens to be the strategy that is used least.
Are you working on the right thing to grow your business?
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