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Why do existing customers become more profitable over time?

Asked 3 years ago

Is it because it is easier to sell to existing customers that they are more valuable to the business?

Jolina Regin

Monday, October 25, 2021

Existing customers are easier to convince to buy more products from you than new customers. They will reduce advertising costs, increase lifetime value, refer friends, and hence increase profit. It’s 5 to 25 times more expensive to acquire a new customer than to retain an existing customer. Also, satisfied existing customers are more likely to try out your new products.

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