The past decade has seen unprecedented change in the technology and telecommunications sector in Asia-Pacific, and the coming years show no sign of a slowdown. The availability of smartphones, tablets, Wi-Fi, 4G networks and ecommerce is changing the way business is conducted, and driving huge-scale innovation in areas ranging from customer engagement to retail models.
To grow and prosper in this ever changing environment, telco companies, retailers and manufacturers alike need to tap into and leverage the evolving connected consumer ecosystem. In these days of big data, where companies face growing competition, the first step for companies is to identify their most profitable customers and secondly, assess their level of engagement with your brand. We call these consumers – SUPER CONSUMERS.
A consumer’s involvement with your brand is a clue to how passionate they are about your brand and a measure of how strong an advocate they can be for you in the future. It’s not just a matter of making more money from them, it is about turning them into brand ambassadors and influencers to shape your future customer base.
It’s easy to reach Super Consumers, once you know who they are. But identifying the optimal strategies to change their behavior is another matter. Nielsen has come up with a five-point plan to maximise the value of the Telco Super Consumer:
1. Can we idenfity the additional “stretch” from existing consumers?
2. Do we have the right offer/product mix for the right consumer?
3. Do we know if our customers are happy?
4. Where are our profitable consumers located?
5. What media vehicles work best and which messages resonate most with our super consumers?
Research from Nielsen’s Cambridge group has found that super consumers of one category tend to be super consumers of nine other categories. So, when looking for super consumers, don’t restrict yourself to considering just your own best customers. In today’s world of big data analytics, we can identify those people who love to buy your product, as well as those people who are already deeply engaged with a seemingly unrelated product.
Activating against this group of “new” cross category super consumers can be the key to unlocking a layer of growth that might otherwise remain elusive.
Check out our infographic on the same topic.