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Don't ignore your superconsumers says Eddie Yoon

posted onJanuary 2, 2018
nocomment

If you are interested in a different approach to growing your brand Superconsumers may be a helpful resource for you. Eddie Yoon, a principal with the Cambridge Group, a growth strategy consultancy that is part of the consumer research company Nielsen, gives his readers some real world examples of how trends can be leveraged to optimize sales. 

The author believes that there exists a type of "superconsumer" that not only buy certain products in massive quantities but also have a deep passion for the category and a certain brand specifically. Focusing on those customers can have a profound impact on a brand’s overall success.  These customers aren’t just buying stuff. They are “hiring” a product to fulfill a larger quest or set of needs. “Find out what they’re ‘hiring’ your products for and what their quest is, and address both,” Yoon advises. Although representing just 10% of total consumers, they can drive between 30% to 70% of sales, and they’re usually willing to spend considerably more than the average consumer.

Superconsumers can also be a crucial component of a brand’s innovation process, Yoon argues. Because they know a product so intimately, they could have insights into brands that management teams may lack. 

Superconsumers begins with several case studies highlighting how companies leveraged superconsumers to solve their business problems and then concludes with chapters on how readers can apply these principles to their own companies. 

At times, Superconsumers drifts into being an advertising tool for Nielsen services. On the other hand, some of the book’s insights probably wouldn’t be possible without Nielsen’s plethora of proprietary consumer data.

The book gives a good introduction to why it is important to recognize superconsumers and how to tap into this segment. If you are new to business, this will open your mind and may give you a new strategy to work upon. 

superconsumers

Eddie Yoon is a Principal with The Cambridge Group, a Chicago-based strategy consulting company.To date, Yoon has driven nearly $1B in incremental, margin accretive sales for his clients.Prior to this, he was a Consultant at Sibson & Company, where he worked on organizational strategy and global merger integration assignments. Yoon earned his undergraduate degree from the University of Chicago, in both Political Science and Economics. He is also a regular contributor for the Harvard Business Review.