Which statement best describes long-term customers?
A) They are less valuable to a company than short-term customers.
B) They are more difficult to deal with than short-term customers.
C) They are expensive investments because the upkeep is costly.
D) They are more valuable assets than new ones.

Question

Quizplus · Accepted Answer

Long-term customers are considered more valuable assets than new ones because they tend to buy more over time, are cheaper to sell to since they already know the product or service, and can provide valuable referrals to other potential customers. This increases their lifetime value to the company.

Which Statement Best Describes Long-Term Customers