Identifying your most passionate clients and creating a bonding relationship with them is a powerful growth engine.
Author(s): Eddie Yoon
Publisher: Harvard Business Review Press
Date of publication: 2016
Who are your passionate clients? They are those for whom your products are—way beyond simple objects—a mean to satisfy deep needs, even to achieve the vision they have of themselves. No need to propose exciting products to find them among your clients. They exist in all categories, such as Sally, the manager of a car rental agency. For this fan of office stationary, these products bring her the satisfaction of a job well done, of an orderly daily life. Identifying and understanding these “superconsumers” is a very effective growth lever, Eddie Yoon explains. Indeed, although they only represent 10% of the customer base, they account for 30 to 70% of the revenues, according to Nielsen analysis firm. Furthermore, they can provide a wealth of information: Which of their needs does your product address? In what circumstances and how do they use it? What is their vision of the competing products? What are their suggestions for improvement? What would be the arguments to convince other potential buyers? Your “superconsumers” are ready to offer you all of this precious information, without expecting anything in return beside co-building with you the best possible product or service.
In this book, the author explains how to identify them and how to create a bonding relationship with them. He provides many examples of enterprises that mobilize them successfully—to increase the attraction of the brand, to improve their enterprise operational effectiveness, to better target their channels of distribution, to determine their media strategy or expand their market reach.
Collaborate with your customers
While the digital revolution has given consumers the possibility to involve themselves in the life of companies, very few businesses actually take advantage of this opportunity. How can you transform your consumers into privileged partners?