Navigating Multiple Customer Segments, Needs, and Expectations
Shep interviews Ryan Hamilton, associate professor of marketing at Emory University's Goizueta Business School and co-host of The Intuitive Customer. He talks about his new book, The Growth Dilemma, and the challenges brands face in serving multiple customer segments with differing needs and expectations.
This episode of Amazing Business Radio with Shep Hyken answers the following questions and more:
How does customer segmentation impact how customer experiences are designed?
How can businesses navigate conflicts between different customer groups seeking unique experiences?
In what ways do ideological differences between customers influence brand experience?
Why is it important for companies to continually adapt their customer experience as their customer base grows?
How do influencers impact customer behavior?
Top Takeaways:
Some companies believe that they are only serving one type of customer. In reality, there are often several segments with different needs and expectations. Take Disney, for example. They serve both families with kids and “Disney adults”—grown-ups who love the Disney experience just as much. Each group may be looking for something different, but both are important to the overall customer experience.
Companies need to recognize how different customer groups impact the business and how they interact with one another. When companies do not understand the different customer segments that they serve, they risk accidentally leaving one group out (and losing their business) or even creating conflict between groups.
One way to keep different customer groups happy is to design experiences just for them, even if they are sharing the same space. Depending on your type of business, this could mean creating special areas, offering different products, or even building new locations with certain features in mind.
As a business grows, so will its customer base. This means adjusting and innovating to meet the diverse needs and expectations of their customers. Successful brands continually evolve to attract and serve new customers without compromising the identity that initially drew their original customers.
Innovation is a double-edged sword. It can bring about changes that improve or disrupt the customer experience. Brands need to be willing to listen to customer feedback and adapt accordingly. Good communication and flexibility show customers that their opinions matter.
Customer segments and expectations evolve. What works for a brand today might not work tomorrow. Brands need to continually monitor how their different customer segments change and interact with each other, and be ready to adjust products, services, and experiences to keep everyone happy.
Plus, Shep and Ryan discuss how influencer and follower relationships drive trends and customer behavior. Tune in!
Quote:
"Serving one customer segment is challenging enough, but when you have multiple groups wanting different things, you're managing a whole ecosystem where you need to keep each customer happy."
About:
Ryan Hamilton is a keynote speaker and an associate professor of marketing at Emory University's Goizueta Business School. He is the co-author of The Intuitive Customer and the co-host of a podcast with the same name. His new book, co-authored with Annie Wilson, The Growth Dilemma: Managing Your Brand When Different Customers Want Different Things, is now available on Amazon.
Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and host of Amazing Business Radio.
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