It costs about five times as much to get a new customer as it does to keep an existing customer.

Question

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According to various studies, it costs about five times more to acquire a new customer than to retain an existing one. This is because marketing and advertising expenses are high for attracting new customers, while existing customers are already familiar with the brand and require less convincing to make repeat purchases. Additionally, existing customers tend to spend more money and are more likely to refer new customers, bringing in additional revenue at lower costs.

It Costs About Five Times as Much to Get a New