1 - Why do I care about new customers when my industry obsesses with catering to best customers via omnichannel theory?

Good question!

It goes back almost 30 years.

2 - Ok, I was working at Lands' End in 1991. One of your Circulation Managers had a challenge. She had two segments of customers she mailed, and one she didn't. She knew how the mailed segments performed, but needed an estimate for the segment she didn't mail.

3 - Estimating segment performance for an un-mailed segment was easy ... I had done this work at the Garst Seed Company in the late 1980s. So I performed the exercise for her.

4 - And my results were accurate enough that I was asked to analyze other issues.

We had a division that mailed 2 catalogs in a quarter. What would happen to the two catalogs if a third catalog was mailed?

I recommended a strategy ... an A/B test.

5 - Say the first catalog generated $5,000,000 in sales and the second catalog generated $5,000,000 in sales. What would happen to the 2 catalogs if a 3rd catalog was mailed, and how much would the 3rd catalog generate?