2/11/2023 0 Comments 1focus quick start![]() Whales are your most enthusiastic consumers, but they’re not always the highest-paying ones. While you might assume that your whales will always be your high rollers and big spenders, that’s not necessarily true. (When they say they’ll buy, they do.) And as your number one fans, they love to be a part of your product development process. This ultra-engaged group behaves predictably. Discovering what makes them tick can help you identify other people like them.Īccording to research from Nielsen, the top 10 percent of your customers-your whales-account for as much as 70 percent of your overall sales. While there is value in this theory, you’re going to glean a lot more from talking to those customers who are already loyal to you. Typically in consumer research, the approach is to figure out why people aren’t buying from you so that you can find ways to reach and convert them. By talking to them, conducting surveys, and looking at studies, you can get to the heart of what they really want and need.įrom there, you can uncover what it is that you can offer them and how to go about executing it. The best way to do so is to go straight to the source. You must figure out who they are, what they want, and how they’re finding you. If you’re going to dedicate yourself to catering to those whales, though, you first need to understand them. In the book, I profile some highly successful businesses-such as Dollar Shave Club and Wynn Resorts-who have flourished because of their dogged commitment to focusing on their whales. (Yes, whales!) Your whales are your most enthusiastic and involved customers. When our team was working to identify the primary forces behind increasing online revenue, we discovered that the natural first step is to find and properly engage your whales. We’re previewing each of these forces to give you a taste of what the book can do to transform your business. We’ve seen our approach drive 50 to 600 percent revenue growth. My team and I identified these forces over two and a half years through hands-on experiments with our clients, primary research and interviews, and a review of research projects done by academics. The book is anchored by a discussion of the five forces of online revenue growth through focusing on your best end users. In 2018, we published a book entitled A Member Is Worth a Thousand Visitors.
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