We’re all familiar with this story. A business is at the top of its game, makes a trajectory-decision based on an assumption, and subsequently misses the mark. In this case, the business is Netflix…
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From the category archives:
Know Thy Customer
There are no magic words to cause your target customers to instantly come running to buy your offering… but a carefully crafted value proposition will let them know how your offering is valuable and relevant to them.
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Once you’ve zeroed in on your target market, you need to get to know that ideal “bull’s eye” customer. Whether you’re in B2B or B2C, at the end of the day, the person who makes the purchase is a person. It is a human being with objectives, problems, challenges, fears, and opportunities, and you need to get to know what those are.
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Have you ever thought about which customers you shouldn’t deal with? Which ones are you selling to now, that you might actually be better off not selling to at all? The surprising thing is, you may be putting a lot of energy into selling to more of those customers than you know.
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Aligned prospects are those potential customers that you haven’t dealt with much – but who could become customers. If you’ve identified key attributes of your historic customers, you could actually start looking for other groups of prospects who share those attributes
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The first step in defining ideal customer is having a firm understanding of your historic customer– no time travel required. I simply mean the customer you’ve done business with until now.
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What has really changed? It’s a profound question that should be asked when looking at all the new products, trends, ideas and things that are happening in the world of marketing, social media, and the web in general. One can pause and look at it, and say it’s all different. Yet in some fundamental way, [...]
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