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

Question

Quizplus · Accepted Answer

Studies have shown that it can cost up to ten times more to find a new customer than to retain an existing one due to marketing and advertising costs, sales commissions, and other expenses associated with trying to attract new customers. Therefore, it makes good business sense to focus on building long-term relationships with existing customers.

It Costs Ten Times as Much to Find a New