It is less expensive to sell a product to a new customer than to an existing customer.

Question

Quizplus · Accepted Answer

It is actually more expensive to acquire a new customer than to retain an existing one. Acquiring new customers often requires marketing efforts, advertising, and promotional campaigns, all of which can be costly. On the other hand, existing customers have already been acquired and have a relationship with the company, making it easier and less expensive to sell to them again. Maintaining good relationships with existing customers can help businesses save money and increase revenue in the long run.

It Is Less Expensive to Sell a Product to a New