The Key to Identifying Your Most Valuable Customers

Do you know who your “superconsumers” are, and why they’re so important for your strategy decisions?

Growth strategy expert Eddie Yoon says they’re your most passionate, most valuable customers—not just because they spend more than average, but because their insights can help you improve your products and services.

“You start with superconsumers and ask them to figure out what would need to be true for you to pay double the price of what I sell you now today,” he explains. “If you ask any regular consumer, they’d say, ‘no way would I let you do that.’ But a superconsumer would say, ‘well, if you did this, this, and this; I would actually pay three times as much for it.’ Start with the passionate core, and let them do your work for you.”

In this episode, you’ll learn how to define your superconsumers and use their insights to attract new users to your products and services, with plenty of real-world examples, from Velveeta cheese to vitamins and video games.

Yoon is the author of the book Superconsumers: A Simple, Speedy, and Sustainable Path to Superior Growth.

Key episode topics include: strategy, growth strategy, customer experience, product development.

HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week.

· Listen to the full HBR IdeaCast episode: What Superconsumers Can Teach You (2016)

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