The Hidden Cost of Wrong Customers (& How To Attract The Right Ones)

The Brand Marketing Show

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9d ago 1:03:59

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Many brands are haemorrhaging money on the wrong customers, often without even realising it. While marketers obsess over age groups, income brackets, and geographic data, they're missing the fundamental psychological divide that actually determines buying behaviour.

Today's guest, Dr Ross Honeywill, has spent many years uncovering why traditional demographic segmentation fails so spectacularly – and what smart businesses should focus on instead.

Dr Honeywill is a consumer psychologist and the architect behind the NEO (New Economic Order) framework, a research-backed approach that segments customers by mindset rather than demographics.

After surveying hundreds of thousands of consumers and working with major brands like JB Hi-Fi and David Jones (back in their heyday), Ross has proven that understanding whether your customers are emotion-driven NEOs or price-focused Traditional buyers can be the difference between explosive growth and costly customer acquisition disasters.

For example, his work helped transform JB Hi-Fi from a small music retailer into a retail giant, with 80% of their revenue now generated by just 40% of their customer base – the NEO segment.

Whether you're struggling with high customer acquisition costs, low lifetime values, or feel like you're constantly competing on price, this episode will fundamentally shift how you think about who your customers really are – and why getting it right matters more than you ever imagined.

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Podcast Show Notes: https://www.catherinelangman.com/episode-281/

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