The cost of acquiring a new customer is equivalent to that of retaining a loyal customer.

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The cost of acquiring a new customer is typically higher than that of retaining a loyal customer. Acquiring a new customer involves marketing, advertising, and sales expenses, while retaining a loyal customer involves maintaining good customer relationships and providing quality service. Studies have shown that the cost of acquiring a new customer can be five times higher than retaining an existing one.

The Cost of Acquiring a New Customer Is Equivalent to That