I hate to be the one to break it to you, but the average customer shouldn’t be that important to you. I’m not writing this to repeat the marketing rhetoric you hear about how “millennials” want massive amounts of choice, personalization, customization, etc. I’m here to tell you that people misunderstand the facts about their business – even when the numbers are correct!
Recently, I was asked to look at marketing performance for a company in Chicago. The company told me, “on average, we make about $100 per transaction.” At first glance, they appeared to be spot on.
Daily averages showed a nice normal distribution with a mean of $100.\