Selling a second product to new customers may be more effective than trying to upsell existing customers. This approach leverages the excitement of new acquisitions and can lead to higher overall sales. Businesses should consider focusing their marketing strategies on attracting new customers to maximize the potential for additional sales.
Revenue recognition is a critical issue for CFOs, impacting both compliance and risk management. The article explores the concept of churn not just as a problem but as a potential business model, highlighting industries where customers do not return, such as dating apps and funeral services, and how these businesses can thrive on a steady influx of new customers instead of relying on customer retention.