Brands often talk about loyalty and their loyal owners, but even if your brand has 50% loyalty, you are losing 50% of your owner base in the re-purchase process.
Brands must be constantly replacing their defectors through conquesting strategies.
What is conquesting? Conquesting is the art of winning new customers that defect from competitors or adding first-time buyers to your brand.
Brands that are unsuccessful at adding a sufficient quantity of new consumers into their brand family are bound to be a shrinking brand, which provides fewer owners that could be loyal, which means less profits.
Brands that practice equity-based marketing principles can be more successful at conquesting consumers into their brand. Conquesting contributes to growth and nurturing new owners can help them to be loyal owners that provide profits to your brand.
It is a never ending cycle of losing customers and adding customers. Just make sure your marketing is designed to support loyalty as well as conquesting.
Want to know more about conquesting and how your brand can increase its owner base, DM me for a conversation about your business challenges and learn how you too can crush it at the conquesting game.
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