subject: Your Most Valuable Customer Might Not Be Your Biggest Spenders [print this page] When it comes to marketing, channels continue to emerge and evolve but the premise remains the same, that being relevancy. But what is changing is the way we manage these channels. For example:
But with social you are measuring a host of new metrics. And unlike traditionalmarketing, these metrics are changing the way we decide who your most valuable targets are.
For example, in traditional marketing loyalty goes to purchasers. But, when it comes to social media marketing (http://en.wikipedia.org/wiki/Social_media_marketing ), your most valuable customers might not be the ones whospend the most with you. Rather they may be the ones who are your greatest word of mouth advocates. And because of this youreally should consider and evaluate whether or not you really know who your most valuable customers are and are you recognizing and rewarding them appropriately. Your advocates can include bloggers, newsletters, web or micro-sites, Facebook fans, Twitter fans, etc. In fact a study performed by Colloquy (http://colloquy.com) found that compared the general population, customers who participate in loyalty building efforts are 70% more likely to actively recommend a product, service or brand.
In today's highly social worldit's peer influence not corporate marketing that leads to most qualified leads and sales.
What that means to you is that agood customer should not be identified solely by their purchases.
Your metrics should include recognition of their ability toinfluence others to buy.
Consider this:
Mary Sample loves the internet, loves talking to her friends about recent purchases and can't wait to log on to give product reviews (especially about products / services she is passionate about).
Marymight not be in the top 20% of your customerswho spends the most butshe is at the very top of the list as far as brand evangelism goes.She may have just made a single purchase or no purchase at all recently but she is as loyal as the day is long.
Mary is so loyal that she often joins the community just to see what is going on and speak to other like-minded individuals. And, more often than not, she has something inspiring and influential to say to the rest of the community.
So while Mary might not be spending the most money she is just as valuable, if not more, because of her ability toinfluence so many others to buy your product.
Now... ask yourself this, would you rather have 10 people who make a one-time purchase or Mary who literally influences many people every day to purchase your product?
Your Most Valuable Customer Might Not Be Your Biggest Spenders
