Fostering long-term customer relationships vs occasionally acquiring new customers.

I believe a business can secure a strong market position by effectively balancing these two aspects. Fostering long-term customer relationships helps build loyalty and ensures steady revenue from existing clients. It’s often more cost-effective and leads to repeat business and positive referrals. Occasionally acquiring new customers is essential for growth and expanding your market. It brings fresh revenue streams and can prevent stagnation. What do you think is the better practice?