a more holistic view
by: Ken Powell
Making sense of customers is one of the holy grails of business.
In this pursuit, businesses often get caught up chasing “market share.” That can easily be defined as a continual hunt for new customers – at the risk of losing sight of existing ones – when in reality acquiring a new customer is much harder and much more costly. Perhaps it’s our impulse to explore and find the new, or perhaps it’s about short attention spans and “moving on to the next thing.” But, ultimately, it may be useful to look at customers more comprehensively.
How can we take a more holistic view, learning how to create extra value for existing customers while simultaneously appealing to new ones?