Marketers often concentrate their efforts on new business, but sometimes, the fastest and most cost-effective way to expand your business is to look at your existing customers. In fact, the success rate of upselling or cross-selling to a current customer is around 50% higher than selling to a new one for the first time.
A lot of people think that marketing is solely concerned with long-term growth. If you need short-term financial fixes, they say, you need to turn to sales. Marketing is not only a long-term growth strategy. And sales is not only a short-term financial fix. It is true that marketers do look at the bigger picture, but they can definitely also help businesses see an immediate positive change. A digital campaign, an emailer, a well thought out promotion - these are designed to have an impact on your sales pipeline in a matter of days or weeks.