You Must Reach New Customers to Grow

In order to achieve growth, it’s imperative for marketers to expand their horizons beyond their current customer base or those already acquainted with their brand. The primary driver of business expansion typically lies in attracting and engaging new customers. Although upselling to existing customers can yield short-term gains, a decade-long global study conducted by Kantar revealed a significant trend: a whopping 88 percent of thriving businesses were actively focused on acquiring fresh customers. Interestingly, these newly acquired customers often evolved into more steadfast and loyal patrons over time.

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Source: Kantar Brand Footprint 2022