In a scenario where a company is experiencing a consistent decline in its New Customer Acquisition KPI, which of the following strategic actions would be the most effective first step to diagnose and address the issue?

Question $25$Answer

a$.$

Conduct a root cause analysis to identify specific stages in the marketing funnel where potential customers are dropping off, followed by targeted adjustments in the marketing strategy.

b$.$

Immediately lower the prices of all products to attract more customers.

c$.$

Shift focus entirely to existing customers and increase efforts in customer retention programs.

d$.$

Expand the product line to appeal to a broader customer base and diversify market presence.

e$.$

Increase the frequency and intensity of promotional activities to boost brand awareness.