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Whales vs Minnows – Where Are You Spending Your Energy?...

Wednesday, March 2nd, 2016 by Charlie Hutton,

Mar 02

Categories: Marketing Tips

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Here’s a question for you – should you treat all of your customers equally?

Maybe not.

For example, if you’ve got a whale of a customer who spends $100 a month with you, and a minnow who spends $5 a year with you, which one should get the better service?

… Or to put it another way, which one holds the power to help or hurt you more?

If you lose the whale of a customer, you’re out significant revenue. Lose the $5 a year customer and you’ll replace them in a heartbeat (if you even notice they’re gone.)

So the question becomes not should you treat them differently, but how you should treat them differently.

I would suggest giving your whale customers gifts that range from simple thank you letters of appreciation, to coupons and special deals, to free products in exchange for honest reviews.

And one more thing…

Create an exclusive club just for your whale customers. You can charge for the club or not, depending on your goals. But no matter what, treat these customers like gold. Not only are you much more likely to retain them – you’ll also get introduced to their friends. And guess who hangs out with whales? Other whales.

To learn more about how to find and focus on your whales, check out Google’s pdf report, “Measure What Matters Most, A Marketer’s Guide To Improving Outcomes By Focusing On Your Best Customers And The Critical Moments In Their Journey.”

Download’able Quote Card “Whales vs Minnows – Where Are You Spending Your Energy?”

Marketing Tips

Cover Photo by Gerardo Lazzari and covered under Creative Commons

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