Updated: Aug 12, 2021
“…A company’s sales come from two groups: new customers and repeat customers. One estimate is that attracting a new customer can cost five times as much as pleasing an existing one. And it might cost 16 times as much to bring a new customer to the same level of profitability as that of the lost customer. Customer retention is thus more important than customer attraction.” (Marketing Management by Philip Kotler, Uni of Phoenix).