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. There is a great opportunity with social media to keep the customers you already have. By keeping the relationship alive, interacting with those customers regularly, and addressing their questions and concerns, you can retain their business much easier than before. Let’s say one of your customers has an issue with your business. Before social media, unless they came to your business and told you about it, you would most likely have just lost them. Now, that customer would likely go to social media to voice their opinion, giving you the opportunity to rectify the situation and possible keep that person as a customer. You don’t have to do all of your customer service via social media, but if you have created an environment in which customers can easily communicate with you, you’ll be in a much better position to keep them from jumping ship