Yes, it does cost more to acquire a new customer than it does to grow an existing one. But the life blood of any healthy organization is a steady stream of new customers. Cost isn’t the primary reason why companies don’t acquire enough new customers – it’s because it’s hard.
Distributors and dealers need new contractors instead of relying on those that provide repeat business. Most of their current revenues come from less than 20% of their customers. Client concentration is always a risky proposition.
Manufacturers are always looking for new dealers in targeted geographies or to replace the ones that are not actively promoting their products. Many are increasingly choosing to sell direct to niche markets like hospitality, multi-family, or residential interior designers.
MMC has the data on these prospective customers and the strategy and channel tools to reach and convert them in a cost-effective manner. We also have a long history of consistently acquiring new customers for our clients.