Today’s customers are more willing than ever to try new things, change their behaviors, and embrace technological advances. In a landscape where buyers have multiple options and businesses face tough competition, it’s more crucial than ever to pay attention to customers’ needs.
However, keeping up with customer demands and shifting behaviors can be challenging. We’ll explore how hyperadoptive customers can help businesses embrace innovation and share tips for retaining these vital consumers.
Hyperadoptive customers are power users who rapidly change behaviors and are more willing to try new brands, products and technologies. They stand in stark contrast to shoppers of the past, who may have casually walked into a store to discover its offerings. Today’s consumers can research every detail of your business and its products and services before setting foot in your storefront or clicking on your e-commerce website.
This “rapid and simultaneous uptake in new behaviors,” defined as “hyperadoption” by Forrester Research’s vice president and principal analyst, Dr. James McQuivey, in 2015, has shifted how retail brands market themselves and try to retain customers.
Hyperadoptive customers demand innovation. Businesses feed this demand with technological advances, including new social media platforms, online selling, sophisticated apps and frequent tech updates. These customers drive change in every industry.
An excellent example of this can be seen in China, where the GDP has grown more than 32 times since 1990. China has the largest population in the world – one that has been through unprecedented changes over the years. The population is used to adopting and adapting quickly, along with shifts in government, technology and the economy. Their ability to adopt and adapt at a faster-than-average rate is poised to give China a global competitive advantage.
Businesses also stand to gain a competitive advantage when they satisfy customers who are accustomed to pivots and shifts. When you acquire hyperadoptive customers, your company benefits from their desire and ability to adopt, adapt and push for more. Businesses can target new products at more change-friendly customers and gain essential knowledge to move their company forward.
New product costs are lower than ever, and customers can access what they need quickly and easily. Along with a multitude of options, hyperadoptive customers aren’t afraid of making new choices and leaving behind products and services that don’t meet their needs.
Hyperadopters’ rapidly changing behavior means brands must carefully consider each step in the customer lifecycle.
Identifying hyperadoptive customers is a challenge. First, companies must understand emerging trends and offerings from other brands in their industry and other industries.
Once you gather an initial customer group, conduct customer surveys to obtain feedback so you can better understand each segment of your customer base. Have your target customers used other brands? Are they happy to change brands? What do they want to see from your brand?
Analyzing sales data is critical for retaining hyperadopters, helping brands deliver more targeted and personalized experiences and showing when it’s time to refocus efforts.
It’s crucial to keep hyperadoptive customers happy and loyal. Consider the following when designing a plan to retain hyperadoptive customers.
While hyperadopters may be quick to move between brands, they ultimately push companies forward and assist them in gaining a competitive advantage. Companies willing to move beyond traditionally siloed teams and strive for increased real-time data will find they are better positioned to compete in a customer-centric environment.
Andrew Martins contributed to the reporting and writing in this article.