Reach Beyond Existing Demand: “Soon-to-be” Noncustomers

September 15, 2008 – 3:41 am | by admin There are three tiers of noncustomers that can be transformed into customers. They differ in their relative distance from your market. As depicted in the figure below, the first tier of noncustomers is closest to your market. They sit on the edge of the market. They are buyers who minimally purchase an industry’s offering out of necessity but are mentally noncustomers of the industry. They are waiting to jump ship and leave the industry as soon as the opportunity presents itself. However, if offered a leap in value, not only would they stay, but also their frequency of purchases would multiply, unlocking enormous latent demand. These soon-to-be noncustomers are those who minimally use the current market offerings to get by as they search for something better. Upon finding any better... [read full story]