High value customers of brands refer to those customers who have a significant impact on brand profits. These customers not only purchase frequently, but also have the ability to influence other audience groups' brand awareness. For brands, obtaining and maintaining high value customers is an important part of business success, whether it is profit contribution or word of mouth communication.
The concept of high-value customers applies to all brands, whether luxury goods or daily consumer goods. Any brand needs to pay attention to and cultivate high-value customers. Different brands may have different definitions and strategies for high-value customers, but their significance is universally applicable.
1、 Transaction value and relationship value
Two identification dimensions of high-value customers
Transaction value dimension: Such customers are usually the main source of income for brands. They purchase products in large quantity or amount, or have high transaction frequency.
For example, a VIP customer of a fashion brand buys a lot of high-end fashion in the brand store every year, or an enterprise customer has signed a long-term large purchase contract with the brand. These customers are regarded as high-value customers because of their huge transaction amount and significant contribution to the brand's revenue and profits.
Relationship value dimension: These customers have established a long-term and stable cooperative relationship with the brand, and maintain a high degree of loyalty to the brand. They not only frequently purchase products or services, but also often recommend brands to relatives, friends or business partners.
For example, collectors of luxury watches have only bought watches of a certain brand for many years, and actively promoted the brand in social circles to introduce new customers to the brand. Such customers play an important role in brand communication and reputation building.
It should be noted that the classification of high-value customers is not absolute, and the value of customers in different dimensions may also change. Therefore, the brand should flexibly adjust the customer classification according to the specific situation, and formulate corresponding maintenance and development strategies. At the same time, for high value customers, brands should give more attention and priority rights to maintain their loyalty and continuous contribution.
2、 Apple's HVC Strategy
Cross product ecosystem+high-end member program
As a global technology giant, Apple not only has a large user base, but also attaches special importance to the needs of high-value customers. The following are some of Apple's special strategies for high-value customers:
1. Personalized customization service: For high-value customers, Apple provides personalized product customization services to meet their unique needs and tastes. Whether it's customizing the appearance and configuration of products or providing exclusive lettering services, Apple is committed to providing high-value customers with a unique product experience.
2. Exclusive account manager: Apple has dedicated account managers for high-value customers, who are responsible for establishing close contact and communication with them. The customer manager will regularly communicate with customers to understand their needs and feedback, and ensure that customers receive personalized attention and help in the process of purchasing and using products.
3. High end membership plan: Apple has launched membership programs for high-value customers, such as the Apple Premier Partner program. These programs provide a series of exclusive benefits, such as preemptive rights, exclusive event invitations, special courtesies, etc., to further consolidate the relationship with high-value customers and enhance their loyalty.
4. Cross product ecosystem: By creating a cross product ecosystem, Apple makes it more difficult for high-value customers to leave its platform. For example, a high-value customer who uses iPhone may also use Mac, iPad, Apple Watch, etc. The seamless connection and collaborative work of these products increase customer stickiness, making high-value customers more inclined to continue to use Apple's products and services.
Through these strategies especially for high-value customers, Apple not only successfully retained these important customers, but also further improved their satisfaction and loyalty. These strategies also provide enlightenment for other brands, that is, when facing high value customers, providing more personalized and exclusive services and experiences is the key.
3、 Exclusive courtesy+circle expansion
LV creates value by value
LV's high-value customer strategy mainly includes the following aspects:
Limited and exclusive products
LV knows that for high-value customers, having unique products is a way to show their identity and taste. Therefore, LV's designer team will launch limited edition products every year. These products not only have originality in design, but also strive for perfection in manufacturing process and material selection.
At the same time, LV also provides customized services. High value customers can customize the color, material and even accessories of products according to their own preferences and needs to ensure that each product is unique.
High end stores and private shopping experience
Walking into the high-end shop of LV is like walking into an art palace of luxury goods. The interior environment of the store is elegant and the display is unique. Every detail reflects the brand spirit of LV.
Private shopping consultants are intimate partners of high-value customers. They not only provide professional product suggestions, but also recommend the most suitable products for customers according to their needs and preferences. Here, high-value customers can enjoy one-on-one professional services and feel LV's respect and attention to them.
Combination of art and culture
LV has always been committed to combining art and brand culture to provide customers with more cultural experience. LV will regularly hold art exhibitions and cultural activities, inviting artists and cultural celebrities from all over the world to participate.
These activities not only enrich the cultural life of high-value customers, but also provide them with a platform for communication at all levels. Through these activities, LV has established a deep emotional connection with high-value customers, enhancing their sense of identity and belonging to the brand.
Distinguished Member Program and Privileges
Being a distinguished member of LV means that high-value customers can enjoy more privileges and benefits. They can not only purchase limited edition products preferentially, but also be invited to participate in exclusive activities held by LV.
On their birthday, they will receive birthday gifts carefully prepared by LV; During the festival, they will receive LV's blessing and exclusive courtesy. These privileges and benefits enable high-value customers to feel LV's special care for them, and further enhance their loyalty and stickiness to the brand.
4、 Four strategies for high-value customers
AI accelerates customer acquisition process
Brand acquisition of high-value customers is a carefully planned strategic task, and the following suggestions can be referred to:
1. Deep understanding of target customer groups
In order to attract high-value customers, we must first understand who they are and what they need. This requires the brand to conduct in-depth market research and data analysis. For example, a luxury brand may need to study customers' purchase history, preferences, lifestyle, etc., while a daily consumer goods brand may need to pay attention to customers' consumption habits, family structure, etc.
Through these data, the brand can draw a detailed picture of high-value customers, and adjust the product strategy and market strategy accordingly to ensure that the brand and marketing information can touch the heartstrings of these high-value customers.
2. Create unique brand value and experience
High value customers often seek to be different, and they have high expectations for quality, service and experience. Therefore, brands need to ensure that the products or services provided are unique and can meet the unique needs of high-value customers.
Whether through design innovation, unique service methods, or providing exclusive VIP experience, brands need to ensure that their brand value is differentiated from competitors, so as to provide unforgettable experience for high-value customers.
3. Precision marketing to expand high-value customer groups
In the digital era, brands can use advanced technical tools for precision marketing. Through big data analysis, brands can identify potential high-value customers and conduct personalized marketing push. For example, using AI technology, brands can recommend products or services that best meet customers' needs according to their browsing history, purchase behavior, etc.
In addition, the brand can also provide these high-value customers with customized discounts, promotions or value-added services to further increase their loyalty and purchase intention.
4. Use AI technology development to help obtain high-value customers
This year's AI technology development has provided new opportunities for brands to acquire high-value customers. AI technology can help brands more accurately identify potential high-value customers. By analyzing a large number of customer data, AI can predict customers' purchase behavior and tendency, and help brands accurately target customer groups.
At the same time, AI technology can also be used for personalized recommendation and customized services, providing personalized product recommendation and customized services according to the preferences and needs of high-value customers, and improving customer satisfaction and loyalty. In addition, AI technology can also provide 24/7 customer service through intelligent chat robots and other ways, answer customers' questions and concerns in a timely manner, and provide customers with excellent experience.
In short, acquiring high-value customers requires the brand to make efforts in market research, brand value building, precision marketing, etc. At the same time, the development of AI technology this year has provided brands with more powerful and accurate tools to find and attract these high-value customers. The combination of these technologies and strategies will create more opportunities for brands and establish long-term and stable relationships with high-value customers.
Author: Media 360
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