How can you identify your next customer?
Building on customer success
Our client, a large provider in a niche sector of digital trading and investments, was a real success story. But while they had grown a significant international customer base, they were reaching saturation within their traditional customers. They needed to identify their next ‘core’ customer to drive significant growth.
Finding new headroom
We worked closely with the digital, acquisition and product teams over several workshops and large scale quantitative primary research. The team felt their current customers were highly Alpha (usually) males and had something a little ‘different’ in their character; they hoped to find more of the same.
Using these customers as our guide, we developed a framework for the whole market, encompassing personality traits, behavioural segments and needs in financial markets.
The framework did indeed show they had done well within the current alpha customers, but then identified new, sizable, close-in opportunities to pursue and where they should avoid. More of almost the same.
With two new target customer types identified they now had headroom to grow and knew where it was; and saw the potential to double their current customer base.
Initiating new action
Embedding the targets into the business through infographics, workshops and ideation sessions, we supported a range of work streams: a new acquisition channel strategy, a new communications plan, revised client management approaches, and development in both products and digital experience.