In most industries, it costs 3-5 times more to gain a new customer than it does to keep an existing one.
And yet, when we talk to most business owners using Facebook, they see it solely as a platform for gaining new customers. They aren’t to blame. Using social media, Facebook in particular, is largely regarded as a great way to generate new leads and, thus, new customers. But if you only use these platforms for acquiring new customers, you’re leaving a lot on the table.