Superconsumers: A Simple, Speedy, and Sustainable Path to Superior Growth by Eddie Yoon
Eddie Yoon is the founder of EDDIE WOULD GROW and is widely recognized as one of the world’s leading experts on growth strategy.
He is the author of over 40 Harvard Business Review articles and has been a keynote speaker around the world.
Prior to starting EDDIE WOULD GROW, he was a partner at The Cambridge Group, a strategy consulting firm that helped CEOs and senior leadership teams of Fortune 1000 corporations drive growth by understanding how to unlock new sources of consumer demand.
And interesting fact: he attended the same high school in Hawaii as former U.S. President Barack Obama and he now lives in Barack Obama’s adopted hometown of Chicago.
The Host’s Perspective:
If you’re in business, do you want growth or profitable growth. There’s a difference. Have you ever heard the maxim that growth can kill a business?
In the book, Yoon explains that if you want more profitable growth, you need to focus more on your superconsumers who, unlike heavy users who are defined simply by the quantity of their purchases, are characterized by their attitude as well; they are passionate about and highly engaged with–and maybe even a little obsessive about–a product category.
But they aren’t just oddballs who buy in bulk. They’re emotional buyers who base their purchase decisions based on life aspirations. And it applies to every business category.
And while superconsumers might represent just 10 percent of your customers, they can drive between 30 to 70 percent of sales, an even greater share of profit, and most of the insights you need to continue to profitably grow your business.
And best of all, they aren’t particularly price sensitive.
The book outlines how to find your superconsumers (yes, you do have them), how to better understand them, how to engage with them and how to leverage their insights and their ability to create other superconsumers.
The book also has lots of data and case studies of companies that have implemented superconsumer strategies to make the most of their most engaged and profitable customers.
Listen to the Interview:
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