Know your ”most valuable purchasers”!
A recent Nielsen/Netratings study indicates that a approximately 18% of online buyers account for almost a whopping half of total online spending.
Nielsen/Netratings nicknamed this group of active and loyal buyers ‘most valuable purchasers’ or ‘MVPs’.
And the takeaway is that you’ve got to know who these customers are.
If you are conducting ecommerce, make sure your website is equipped with the tools that allow you to analyze who is buying, how frequently they visit and buy, and what their special needs might be.
Use online surveys and analytics software. Create marketing campaigns that reach them. Do whatever it takes!
Just be sure you consider focusing more than 1/5 of your energy and resources on the 1/5 of customers who are responsible for half of your online purchase volume.