Relying on internal data and artificial intelligence to understand customer behavior is great for creating a picture of what’s already occurred. Readily accessible existing data can detail—often with finite precision—purchase patterns, motivations and satisfaction. But success in serving (and retaining) customers requires something more than simply documenting the past.
That requires foretelling the future.
In business, knowing where you’re going is always more important than knowing where you’ve been. And although that may sound impossible, it isn’t. But it is a lot more challenging. We’ve found that it’s a matter of finding and talking with the right people. In every category there exists a cadre of folks whose experiences, preferences and insights define markets and inform marketing.
They are the Catalytic Customers, bellwethers of markets on the rise, or on the decline. While their numbers are relatively small, they have unique mix of traits and behaviors that give their actions and attitudes a prescient quality. When you identify and understand the Catalytic Customer, you identify and understand the larger markets that follow. With a little work, they can be found in every market and every product maturity stage.
Here are some ways to identify the Catalytic Customer:
Attitudinal Disposition
The Catalytic Customer must be positively disposed to your product and/or category. It is simply a fool’s errand to study customers or prospects who aren’t interested. You’ll have less frustration, and more fruitful discussions, with respondents who are at least moderately positive about your product category. Notice we said, “positively disposed,” not “wildly in love with.” Your Catalytic Customer is definitely not the person standing in line all night to be the first on his or her block to get the latest iPad. There is little to be learned from adoring fans whose favorite product attribute is “new.”
Demographic Enablement
Catalytic Customers have the resources to be actively involved in your category and the resources to purchase from you—and from your competitors. They possess identifiable characteristics, be those gender, income, education, location, ethnicity, and/or cultural disposition, that while unique their Catalytic stance, also point the way to prospective customer segments who represent future opportunities for your business. Think of the Catalytic Customer as your perfect customer. On steroids.
Behavioral Engagement
Catalytic Customers have a high level of engagement—read, interest—in your product or service. They may not be (and often aren't) your customer. They’ve typically tried your product as well as those of your competitors. They know what works and they see where things need to improve. They have deep and rich experience in your category that make them well worth your time and effort to identify and leverage. While the default consumer sentiment is one of “I don’t care” the Catalytic Customer knows exactly what they want and will keep experimenting until they find what they need.
Disposed. Enabled. Engaged. We’ve found that it is relatively easy to create an algorithm to screen for these traits. But there’s a fourth component that makes the Catalytic Customer especially valuable: Social Connectivity. Catalytic Customers don’t just have interest in your product, brand or service, they often create interest. They are the people to whom friends turn to for advice, in emerging, growing and even maturing markets. Certainly, the primary benefit of studying the Catalytic Customer is to secure a predictive understanding of the larger following market. But when you understand, market to and motivate the Catalytic Customer, you’re creating not just a buyer, but an advocate who—either through active engagement or as a thought leader to be emulated—can shape not just marketing, but the market itself.
Interested in future-proofing your business? Let's connect.
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