The conventional wisdom is that marketers should focus on retaining customer loyalty, driving growth from consumers who are already convinced that they’ve found the right brand for them. In reality, there’s only so much value you can extract from existing users. They can, after all, only buy so much.
In reality, a brand nearly always has far more to gain by winning over consumers from the segment of the population that doesn’t use their products. This is a heavy lift, but the returns it drives are considerable. Communicus CEO Jeri Smith gets specific about how to do it in her monthly column for The Drum.