Research indicates that it costs five to six times as much to attract a new customer as to keep an existing one.

Question

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Studies in marketing and customer relationship management have consistently shown that attracting a new customer costs significantly more than retaining an existing one, with estimates often citing a factor of five to six times more expensive. This is due to the costs associated with marketing, sales efforts, and the time it takes to build trust with new customers.

Research Indicates That It Costs Five to Six Times as Much