If you are the least bit customer-centric, and even without elaborate lifetime value calculations, you probably have a solid idea of who your most valuable customers (“MVC’s”) are. You may even be advanced enough to understand your most growable customers and your most valuable prospects. The core of any compelling customer growth strategy requires that level of insight.
But in an increasingly consumer-driven, omni-channel world, where most of your customers and prospects are connected through nearly frictionless networks and tribes, you need a new focus and a new metric. You need to understand who your Most Passionate Customers (“MPC’s”) are.
This goes beyond tracking your Net Promoter Score. This entails more than pontificating about “Raving Fans” and “Angel and Demon” customers.
Your MPC’s are those that disproportionately propel your business. They possess both credibility and a vast network with which they are actively engaged. Mass x velocity.
This is a re-definition of most valuable customers that typically stops at a direct profitability calculation. Your MPC’s may not appear particularly profitable through your traditional lens. Yet their impact on shareholder value can be far greater than that big spender who’s influence on others may be immaterial.
Granted, it’s a lot easier to stop and feel satisfied with solid or improving “willingness to recommend” scores. But when we don’t understand who is willing to recommend us and how much value there is in their recommendation, we have little that is tangible to work with. And without uniquely identifying our MPC’s we also lack the opportunity to thank them, engage with them and cultivate their potential.
I’ve started my list. What about you?