The world is full of people buying stuff. But the question is who will actually buy your stuff? This is who your business will serve. The fact is, most businesses define themselves solely by the services or products they sell. This is a disastrous business mistake.
Customer Centric Marketing Example:
Apple! They define themselves as a “computer company.” They understand that they serve a very specific type of target market – person. Because of this clear awareness, they are able to sell their target market computers, music devices, phones, watches, and in the future…cars (and who knows what else)?
The point is, Apple is customer and market focused…NOT product-centric.
You shouldn’t launch a product because you want to do it. Launch it because your customers are asking for it. There is a void or need to fill. That is the secret to business success.
First, you must know WHO your customers are, or you might risk listening to the wrong people.
Questions to ask yourself about your target market:
- What is your customer’s age, gender, marital status, #, age of children, pets, location, occupation, job title, annual income, level of education, anything else important
- What are your customer’s goals?
- What are your customer’s values?
- Where do your customers get their information (Books, magazines, blogs, websites, conferences, experts, etc.)
- What are your customer’s challenges?
- What are your customer’s pain points?
- What are your customer’s objections to the sale?
- What is your customer’s role in the buying process?
Can you answer this question now: Who is your target market?
You can pivot your business model, service/product line, even branding all you like as long as you stay true to those who are loyal to you. But if you ever decide to completely pivot into a new market, just know that you’re effectively launching a brand new business.
