Loud Thinking May 07, 2014 at 03:27PM
Don’t Ignore the Customers Who Love You Most
Many managers are skeptical of superconsumers’ potential, assuming they can’t be persuaded to buy more — even though they’re responsible for a large portion of a product’s sales, highly engaged with the brand, and not particularly price sensitive. As companies build up their analytic capabilities, they must become better at identifying and engaging this group. Doing so can often reveal hidden opportunities for growth and insights that can drive product strategy. Because superconsumers are passionate about a category or brand, they are an ideal audience for testing out new product ideas (in many cases, they themselves are a source of new ideas). And they’re easy to reach, so you can increase the efficiency of your advertising and promotions by focusing efforts on a narrow slice of your customer base, instead of trying to activate lapsed users through expensive mass-market campaigns.
Adapted from “ Make Your Best Customers Even Better” by Eddie Yoon, Steve Carlotti, and Dennis Moore.
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