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A comment on It costs 5x more to attract a new customer than to retain an existing customer..
There are still reasons to hunt new customers though:
- You don't want your business to fail at the loss of one customer.
- New customers can help you push the product.
- It's possible to simultaneously invest in new and existing customers if both are profitable activities.
- In a SaaS model, your existing customers keep revenue flat. New customers grow the top line.
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There are still reasons to hunt new customers though:
- You don't want your business to fail at the loss of one customer.
- New customers can help you push the product.
- It's possible to simultaneously invest in new and existing customers if both are profitable activities.
- In a SaaS model, your existing customers keep revenue flat. New customers grow the top line.