In sales, the question is often asked: Should you focus on acquiring new customers or maintaining existing customers? Both strategies have their advantages and challenges — but which is in B2B area More promising? In this article, we look at the respective pros and cons of both approaches to help you find the best path for your business.

Benefits from existing customers

Existing customers are the foundation of many companies. They offer stability and predictable sales. The most important benefits are:

• cost efficiency: It is significantly cheaper to maintain existing customers than to acquire new ones. You don't have to pay any additional marketing or sales costs to convince them.

Another major advantage of existing customers is the close, already established relationship. This familiarity makes it easier for you to respond to individual customer needs and solutions to offer that exactly meet your requirements. This close collaboration not only promotes loyalty, but also increases the likelihood of repeated and larger orders.

• Trust and Loyalty: Existing customers already trust your company and are often less price-sensitive. They tend to sign long-term contracts or make larger orders.
• Lower risk: You already know their needs and behaviors, which reduces the likelihood of surprises.

Disadvantages of existing customers

Despite the benefits, there are also some challenges when focusing on existing customers:

• Growth limits: Existing customers offer only limited growth opportunities. If they already see their needs met, it can be difficult to generate additional revenue.

Another disadvantage is the dependence on existing customers. Companies often rely too heavily on a handful of major customers, which carries the risk that losing a customer can have a significant impact on finances and sales. Focusing too much on existing customers can lead to a dangerous monoculture in which the company could stagnate if new impulses are not continuously provided.

• Increased expectation pressure: Long-standing customers often expect exceptional service and individual support, which can be resource-intensive in the long run.

Benefits of new customers

New customers generate fresh sales and open up new market opportunities. Here are a few benefits:

• growth potential: Every new customer is a new source of income. Expanding into new markets or segments can take your business to the next level.

An additional advantage of new customers is that they bring a breath of fresh air to your company. New requirements and prospects from new customers can help diversify your business and improve your services or products. These innovation drivers provide valuable impulses that make your company more agile and help you secure a competitive advantage.

• diversifying: By acquiring new customers, you reduce dependency on your existing customers and spread the risk across multiple shoulders.
• Innovation opportunities: New customers often bring new requirements that motivate your company to develop further and find innovative solutions.

Disadvantages of new customers

However, acquiring new customers is also associated with challenges:

• High costs: Acquiring new customers is expensive. It can cost up to 25 times more to acquire a new customer than to retain an existing customer. Marketing campaigns, sales and special offers involve high investments.

Establishing new customer relationships is also lengthy. It can take months for a new customer to establish a solid business relationship and show loyal buying behavior. This requires not only a great deal of patience, but also a strong investment in sales to turn the initial contact into a profitable, long-term relationship.

• Time spent: Building a relationship with new customers requires time and patience. It can take a long time from initial contact to a profitable deal.

Comparison in a B2B context

In the B2B sector, long-term relationships are crucial for success. Existing customers offer stability and predictable sales, while new customers ensure expansion and diversification. Maintaining existing customers is often less expensive and offers more reliable returns, while acquiring new customers requires a significant investment but opens up new growth potential.

A balanced mix of both approaches is often the best solution. Existing customers ensure a reliable revenue stream, while new customers make it possible to penetrate new markets and further develop the company.

conclusion

The decision between acquiring new customers and maintaining existing customers depends heavily on the situation of your company. Existing customers offer stability and often cost-effective sales increases. new customers On the other hand, they are the key to expansion and diversification. The trick is finding the right balance and making optimal use of both strategies to make your company successful in the long term.