Growth Tactics: Focus on your Whales In A Member is Worth a Thousand Visitors, Rob Ristagno, Founder and CEO of the Sterling Woods Group talks about the importance of identifying and focusing on your whales.
Who Are Your Whales? According to research from Nielsen, the top 10 percent of your customersâyour whales, as Ristagno likes to call them âaccount for as much as 70 percent of your overall sales. This ultra-engaged group behaves predictably. (When they say theyâll buy, they do.) And as your number one fans, they love to be a part of your product development process. While you might assume that your whales will always be your high rollers and big spenders, thatâs not necessarily true. Whales are your most enthusiastic consumers, but theyâre not always the highest-paying ones. You may have some whales who arenât spending a ton with you now but who love your product and could pay more if given the proper
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motivation. At the same time, you may have âspendierâ clients who arenât truly committed to your brand and will easily jump ship if a competitor offers them a lower price. So donât just seek out your top spenders; look for your die-hard fans. These brand fanatics tell everyone they know about your product or content and encourage them to check
Whales are your most enthusiastic consumers, but theyâre not always the highest-paying ones.
you out. That organic word-of-mouth is what leads to similarly passionate whales discovering your company. They donât just make up your customer base; they inspire your companyâs community. How to Find Your Most Ardent Fans To figure out which of your customers have whale potential, analyze your user data to find those people who both regularly purchase from you and frequently interact with your brand. This could range from looking at email data to see who opens and clicks on your links to examining social media interactions and event attendance. Through this process, you may even find
