Inside Small Business | Small Business & Home Business Marketing
Raving Fans and Loyal Customers = More Sales (Pt.2)
Step 2) Identify Patterns and Continuum (or Lifecycle) Attributes
This set of segments lends themselves to a continuum. Likely customers start as Impulse Buyers. Then some make it to Big Spenders while others become Holiday Expediters. Is there overlap, yes and that’s as far as we should go without getting more complex on overlap.
The point is clear, when you start approaching your customers with the goal of loyalty. Moving a customer from an Impulse Buyer to a Big Spender would be beneficial for the company. 1 sale vs 6 sales.
The next question is can you move Holiday Expediters to become Big Spenders? It is tough to answer and will require more investigation.
1. Holiday Expediters may be only obliged to buy at holidays for gifts
2. They may be purchasers outside your avg. age of Big Spenders
3. They may not have the capital to spend, avg. income or disposable income may be lower for this group
4. Possibly they view their purchase as holiday appropriate only
Again, to determine if they can become Big Spenders, these questions must be answered.
Posted on Wednesday, March 19th, 2008 at 2:09 pm and is filed under Business, Customer Service, Entrepreneurship, Leadership, Marketing, Sales. You can follow any responses to this entry through the RSS 2.0 feed.
