Basically, retaining current customers is less expensive than acquiring new ones.

Name: Basically, retaining current customers is less expensive than acquiring new ones.
Brand: Quizplus
Rating: 4.9 (44 reviews)

Question

Quizplus · Accepted Answer

Studies have shown that it can cost up to five times more to acquire a new customer than to retain an existing one. Therefore, it is generally more cost-effective to focus on keeping current customers happy and satisfied rather than constantly chasing new ones.

Basically, Retaining Current Customers Is Less Expensive Than Acquiring New