Squeezing The Orange
In marketing, an existing customer is considered far more valuable than a new prospect. That’s because it costs a lot of money to get a new customer, while an existing customer is already there, a proven commodity, someone with money who likes your product enough to have actually purchased it before. Businesses depend upon their existing customer base for most of their revenue, and spend a lot of money cultivating that base. An increasing number of people now believe that the same approach should be applied to oil production. Instead of spending billions of dollars trying to uncover new sources…