Marketers prioritise expanding customer base over retaining existing buyers

B2B marketers are more keen to expand their current customer base than retain existing customers, according to research from Forbes.

The study revealed 42 per cent of respondents cited attracting new customers as their top strategic priority, while 32 per cent prioritise retaining their existing customer base.

Other strategic prerogatives included improving customer engagement (31 per cent), maximising customer lifetime value (29 per cent), controlling costs (22 per cent) and ensuring regulatory compliance (13 per cent).

Despite customer base expansion ranking highest, 72 per cent of those surveyed said senior management still recognised customer engagement as one of its top priorities.

The research also demonstrated that customers are expecting higher levels of engagement than ever before, with 80 per cent of those surveyed agreeing with the statement “customers are more likely to expect us to engage with them.”