The Readout – July 2023
nestcommerce.co
H2 STRATEGY
Finding new audiences is crucial to keep growing When tactics and channels that used to drive growth start delivering diminishing returns, or if your ROAS is flatlining while your CAC skyrockets, you likely have an audience diversification problem. No matter how good your set-up is for one tactic or channel, eventually you will exhaust its potential. In a competitive environment, with fewer consumers in market, having the right strategy to find new audiences becomes crucial. Once you have accepted your brand needs to find new audiences, there are different approaches that we suggest: • • • •
finding similar audiences on new channels widening your brand’s appeal to attract different audiences developing your product for new audiences scaling your brand into new geographies
It’s likely that you are only hitting a small percentage of your potential future audience. The opportunity here is significant, while the risk of overrelying on a single demographic is greater than ever in the current climate.
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