Since it can cost five times as much to acquire a new customer than to service an existing one,it is important for salespersons to:

Question

Quizplus · Accepted Answer

Building and maintaining long-term relationships with existing customers is important because it is more cost-effective to service an existing customer than to acquire a new one. By doing so, salespersons can also increase the likelihood of repeat business and recommendation to new potential customers through positive word-of-mouth.

Since It Can Cost Five Times as Much to Acquire