Since it can cost five times as much to acquire a new customer than to service an existing one, it is important for salespersons

Question

3 years ago

9

Since it can cost five times as much to acquire a new customer than to service an existing one, it is important for salespersons

to: exclusively focus on maximizing profits. generate as many leads as possible through cold calling. implement the endless chain approach. build and maintain long-term relationships

Business

2 answers:

vovikov84 [41] · Answer 1 · 2022-06-23T04:24:28+03:00

Your question is not properly arranged, please let me assume this to be your question:

Since it can cost five times as much to acquire a new customer than to service an existing one, it is important for salespersons to:

A) Exclusively focus on maximizing profits.

B) Generate as many leads as possible through cold calling.

C) Implement the endless chain approach.

D) Build and maintain long-term relationships

ANSWER: The most correct option is D. Build and maintain long-term relationship.

Explanation: a salesperson is one that markets the companies product to persons that are assumed to be a prospective customer.

Convincing a prospect to buy the companies product is always a difficult task, when compared to the cost of servicing an existing customer. Due to this, a sales person has to hold its customer very tight, so as not to loss the customer to another company. The sales person can only achieve this if he/she has established a cordial relationship with the customer.

Long term relationship with customers is very important in achieving sales target, and increasing sales. Because the customers of today that are followed up are more likely to be the customers of tommorow.

Ierofanga [76] · Answer 2 · 2022-06-23T02:28:01+03:00

Answer:

Build and maintain long term relationship

Explanation:

A good way to manage the cost of acquiring a new customer is by building and maintaining a long term relationship with customers as this helps in winning their loyalty .

With this, a particular customer can keep patronizing you for a long period of time . This means that after the initial cost of acquiring the customer , the major expenses in respect of the customer is just the service cost , which is much smaller compared to the cost of acquiring a new customer.