Approximately how much more does it cost to attract one new customer than to keep an existing one?
A) Twice as much
B) Three times as much
C) Five times as much
D) About the same

Question

Quizplus · Accepted Answer

According to multiple studies, it costs about 5 times as much to attract a new customer as it does to keep an existing one. This is because attracting new customers involves a variety of marketing and advertising expenses, whereas keeping existing customers typically involves providing great customer service and building loyalty through rewards programs or other incentives.

Approximately How Much More Does It Cost to Attract One