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SEGMENTATION = 760% increase in REVENUE for Small Businesses!
Manage episode 414555228 series 3551009
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In this episode of Small Business Quick Wins, host Jay Schwedelson talks about the power of customer segmentation and how to use it as a game changer for your small business. He outlines three key customer segments that your business should focus on ASAP — new customers, lapsed customers, and your biggest spenders.
Best Moments:
(02:16) New Customers and how to approach them to keep them from churning
(03:06) Lapsed Customers and how to WIN them back
(04:03) Biggest Spenders and how you can improve that relationship to keep them spending BIG
(06:00) Businesses that use segmentation strategies experience a 760% increase in revenue
(07:16) Using segmentation to identify niche markets and tailor products to your customers' needs, resulting in a 33% increase in new product success rates
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