It costs 10 times as much to find a new customer as it does to keep an existing customer.

Question

Quizplus · Accepted Answer

According to research, it costs approximately 5 times more to acquire a new customer than it does to retain an existing one. However, some studies have suggested that in certain industries and contexts, the cost of acquiring new customers can be up to 10 times more than the cost of retaining existing ones. Therefore, the statement is true.

It Costs 10 Times as Much to Find a New