Welcome back to Magnetude Mondays. This week we would like to provide insight into getting to know your target customer.
By the time your organization has reached this point in your maturity, you have likely given quite a bit of thought to your target customer. At this juncture, it’s important to go one step deeper and build a robust profile of your target customer—not just their demographic makeup, but also their psyche and the world that surrounds them, professionally (and sometimes) personally.
Market research, whether conducted internally or by an expert, is important not only to find the right customers, but also to deeply understand how to appeal to their needs and inherently understand what motivates them.
Key Questions to Ask Yourself:
Before confirming your target market, be sure you understand why you are choosing the targets you select. For example, are you focusing on the market segment that has the greatest pain that you can help solve? Or are you prioritizing segments that will be easiest to sell to or access? These considerations can, and likely will, change over time, but it is important to be upfront about your rationale for prioritizing one segment over another.
Target User Roles
As you can see, the questions multiply as you get down to a very granular understanding of your customer. Think about how to best prioritize collecting this data. Perhaps you can learn from your beta customers and have a consultant interview them in greater detail. Another method could be to prioritize a specific job title and build a robust profile of their behaviors and motivators. A third approach is to connect with other firms that sell to your target audience, such as a distributor.
Join us next Monday, when we help you “Define your Messaging and Positioning”.
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