On the Record by Leadpages Become a Customer-Centric Business (Peter Fader & Sarah Toms)
Aug 13, 2019
37:04
Peter Fader and Sarah Toms, the co-authors of Customer Centricity Playbook, share how to think differently about your target audience, which customer acquisition channel seems to always win, and how to become a more customer-centric business by determining exactly who your best customers are.
- Diversify your idea of the target customer. Individual customers are wildly different from each other, both in terms of what they're looking for from you, and how valuable they are to you in terms of their future lifetime value.
- Referrals first. No matter the industry, acquiring customers through referrals tends to be a strong channel, albeit with somewhat limited scalability.
- Evaluate your metrics in cohorts. Avoid using averages in your data, but explore metrics (like Net Promoter Score) across different customer groups based on acquisition channels, plan levels, activity, etc.
- Focus on the right customers. Discover the customer groups that will best respond to premium packages, and avoid spending too much energy on those whose customer lifetime value has a low upper limit.
About the Podcast
The Lead Generation Podcast features small business origin stories and marketing lessons for coaches, consultants, service professionals, and leads-dependent entrepreneurs. Our goal is to fire you up for your own business and shorten your pathway to profit while you make a positive impact on your audience.
About Sarah Toms
Sarah Toms is the executive director and co-founder of Wharton Interactive, a platform for marketing simulations. Her 20 years of being a thought leader in the technology sphere include starting several tech companies, and involvement with Women in Tech Summit and techgirlz.org.
About Peter Fader
Peter Fader is the Frances and Pei-Yuan Chia Professor of Marketing at The Wharton School at the University of Pennsylvania. He was named by Advertising Age as one of its inaugural “25 Marketing Technology Trailblazers” in 2017 as the only academic on the list.
Peter Fader is the Frances and Pei-Yuan Chia Professor of Marketing at The Wharton School at the University of Pennsylvania. He was named by Advertising Age as one of its inaugural “25 Marketing Technology Trailblazers” in 2017 as the only academic on the list.