Define your Ideal Customer

Every entrepreneur should be intensely focused on his or her prospective customers. The ability to find a customer, sell your product or service to that customer, and satisfy the customer so that he buys from you again should be the central focus of all entrepreneurial activity. The greater clarity you have with regard to your ideal customer, the more focused and effective your marketing efforts will be. Everyone is in the business of customer satisfaction in some way. The most important activity of any entrepreneur is to clearly identify the very best customers for your product or service, and then focus all marketing, advertising and sales efforts on this particular type of customer.

 

How does your customer behave?

Since the barriers to entry for specific markets are lower than ever, it’s as hard as it’s ever been to stand out from the competition. Creating a product and message that breaks through the noise is unlikely to happen by mistake; success is achieved through research and focused application. Understanding your target market’s buying habits have become crucial in helping you determine how to produce, package, and market your Minimum Viable Product (MVP).

Hover over each term for a definition:
  • Innovator(2.5%) – Innovators are the first individuals to adopt an innovation. Innovators are willing to take risks, youngest in age, have the highest social class, have great financial lucidity, very social and have closest contact to scientific sources and interaction with other innovators. Risk tolerance has them adopting technologies which may ultimately fail.
  • Early Adopter(13.5%) – An individual or business who uses a new product or technology before others. They have the highest degree of opinion leadership among the other adopter categories. Early adopters are typically younger in age, have a higher social status, have more financial lucidity, advanced education, and are more socially forward than late adopters. More discrete in adoption choices than innovators.
  • Early Majority(34%) - The first sizable segment of a population to adopt an innovative technology. Early Majority tend to be slower in the adoption process, have above average social status, contact with early adopters, and seldom hold positions of opinion leadership in a system.
  • Late Majority(34%) - Adopt a new product only after seeing that the majority of the population already has successfully adopted it. Typically older, less affluent and less educated than the early segments in the technology adoption lifecycle.
  • Laggard(16%) - An individual or company resistant to adopting a technology. Unlike some of the previous categories, individuals in this category show little to no opinion leadership. Laggards tend to be advanced in age, focused on “traditions”, likely to have lowest social status, lowest financial fluidity, and in contact with only family and close friends
  • HINT
     

    Customer Pains and Gains

    From considering the tasks a solution must provide, it is possible to determine the underlying motivations behind these tasks. Understanding the “why’s” of what the user expects from the solutions usually fall into two categories. how a user may try to relieve pains involved in the task, how a user unlocks gains from a solution Pains are usually the easiest to list. What gets in the way of  person’s jobs? Gains are not simply the opposite of pains. Instead, gains are the hidden ambitions people have, their goals in life, things that make them happy.