It takes much less money and time to keep existing customers than it does to attract new ones.

Question

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Studies have repeatedly shown that retaining existing customers is more cost-effective than acquiring new customers. It costs anywhere from five to 25 times more to acquire a new customer than it does to retain an existing one, depending on the industry. Additionally, existing customers tend to spend more and are more likely to refer others to the business.

It Takes Much Less Money and Time to Keep Existing