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Eddie Yoon, founder of Eddie Would Grow: “10 percent of consumers are Superconsumers”

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Meet Eddie Yoon, the founder of a think tank Eddie Would Grow and author of Superconsumers who was kind enough to join our podcast today. Eddie’s notion of enthusiastic consumer groups offers a fresh look into the world of marketing and offers potentially invaluable advice for you and your business. Tune in and learn why you’ve been targeting your customers wrong the entire time!

 

Superconsumers are all over, you just have to find them

 

Generally speaking, sales can be divided into two parts: targeting and execution. The former is all about finding the people who’re willing to buy whatever it is you’re selling; the latter is about actually making the sale happen.

 

These two elements are consistent in every sales situation, whether you’re doing 1-on-1 deals or mass marketing through retail channels.

 

On our today’s podcast, Eddie Yoon addressed one of these issues – the targeting part. He believes that finding passionate customers that are ready to spend cash on your product is easy – you just have to know where to look.

 

Superconsumers – arguably, the best type of consumers – aren’t just people who love a particular product or have tons of disposable income. Superconsumers are people who’re extremely enthusiastic about an entire niche of products. People who follow the latest trends, know all the specs and bring the topic up on every bar night.

 

Yes, I’m talking about car enthusiasts. Headphone enthusiasts. You know them. You’ve seen them. Chances are, you have one among your family or friends.

 

“Roughly about 10 percent of consumers in any given category qualify as highly passionate about the category and spending quite a bit about it,” Eddie shared the findings he came across during his extensive career, “That might seem like a needle in a haystack, but […] they’re kind of out there, in plain sight.”

 

How do you find Superconsumers?

 

One of the ways to tackle the quest of finding these super-passionate, money-spending buyers is by deep-diving into data and looking for trends and anomalies.

 

“What you do is you look for spiky parts of your data,” Eddie said, “The two words that I hate most is national average. I just think that averages are misleading – they kind of run over and smooth over all the great (information that could be derived from the data).”

 

“When you see a spike of, like, Rome, Georgia, for being the highest per-capita Coca-Cola consumer in the world, (it really gives you interesting information that can give you further ideas),” Eddie continued.

 

However, what do you do when you don’t have the access to the raw data, or don’t know how to read it?

 

One of the options you could go for are tools like Google Insights or Google Trends: “You can just look at what kind of search terms are popping off in different parts of the country.”

 

Of course, if you’re not into the whole digital analysis thing, there are a lot more “human” ways to figure out what a certain group of people is crazed about. You could, for example, simply go where people are buying products and look for potentially useful information there.

 

“You’ll notice that a local grocery store in, say, Portland, Oregon has a lot more craft beer than, say, Western.”

 

To hear more of Eddie’s insights, tune into our today’s podcast at the top of the page!

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