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If (and only if) you have the support of the group then the main benefit is speed, as you have an existing client base and talent pool; plus there's no need to raise venture capital.
The financial companies most capable of leveraging their existing client base to build a robo-adviser franchise are the least likely to do so for fear of cannibalizing their own high-margin financial adviser businesses.
Noting an uptick in cannabis consumption by its existing client base, the retailer pounced on the new category.
Stage Stores also has a growing direct-to-consumer channel that still has low penetration within its existing client base.
Their existing client base is impressive, and no doubt they will be working with more household names in the future".
"We're not dependent on new clients because we plan to grow within our existing client base," says Verdaguer, 50, an electrical engineer.
Similar(26)
This opens up opportunities for companies with existing client bases to add potentially a new revenue stream, as with platform services almost anybody can now become a telco almost overnight.
Based on our net negative customer churn, Raken will become further entrenched with our existing customer base, while rapidly acquiring clients that are sitting on the sidelines and using pen and paper or to manage daily reports," added Sundukovskiy.
EMC could build on its existing customer base with Virtustream's present clients and sign on newer customers.
Still, CEO Alex Barrotti is targeting a full doubling of its existing customer base (i.e., 2,000 plus clients) on the books by the end of next year.
2. Leverage your existing customer base.
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