Existing customers are more expensive to serve than new customers.

Question

Quizplus · Accepted Answer

This statement is false. Existing customers are generally less expensive to serve than new customers because they are already familiar with your company's processes and procedures, which reduces the need for education or support. Additionally, retaining existing customers is typically less expensive than acquiring new customers, which can require costly marketing and advertising efforts.

Existing Customers Are More Expensive to Serve Than New Customers