Who is it for?
Have you ever taken steps to begin work on developing a new business idea and related marketing strategy, only to realize that you do not know who exactly it is that you are trying to reach? Or, have you been in situations like this where you were working from assumptions?
Before getting started, here are two questions to ask yourself: Who benefits from my business? And more specifically, who is my target customer?
The first question is especially important in this process because the reality is that the target customer that you have profiled has to find benefit from your product in order to willingly purchase your goods/services. It seems obvious, but is often overlooked.
Define your target customers for each business unit/segment/store-front/product line. To arrive at a target customer profile, also called a customer avatar, there are many different methods of varying appropriateness for your own ventures. For inspiration, take a look at this Forbes article Eight Effective Strategies For Identifying Your Target Customers.
Get to know your target customer. NOTE: This will be an ongoing exercise.
Here is a practical example. The flagship location for my sister’s company, Los Nopales Wine, is based in our hometown of Sterling City, Texas. It is a rural town (to use “city” in the naming process was a stretch…) where people are proud of their families’ deep roots and the history of their community. It is also high potential and relatively economically stable, yet has very few places where locals can gather socially.
As written in the Midland Reporter-Telegram, “she decided to open the tasting room to showcase her wines while also providing a gathering place for the local community…. ’It’s really easy to talk down on your hometown, but if we’re not providing some of the luxuries there are in big towns, then it’s hard to encourage folks to come back,’ she said. “That is sort of the mission… to keep our people because we have a great thing going on here in Sterling City. We should embrace home and that’s really what wine does.”
The space and the customer experience is designed to provide an optimal location for the local community. How is this put into practice? The building itself is among the oldest in town. It was carefully renovated and, in and of itself, is a representation of the history of the community. The interior is an invitation for guests to get comfortable. It is clean and spacious. Emphasis is placed on quality over quantity. The decor celebrates the West Texas region.
To very quickly summarize, there are two types of local target customer profiles in mind - the morning customer (the coffee drinker), and the evening customer (the wine drinker).
Sure, there will be travelers passing through who also appreciate the ambiance, a great cup of coffee or a bottle of wine for purchase. And their purchases in turn are much appreciated by the business. These customers will never be alienated. But this model is not about them.
As the Los Nopales Wine tasting room continues its operations, complementary product offerings will be added and adjustments will be made. This is to continue enhancing the experience for the locals who benefit from this venture the most.
Continually refine your target customer profile and strategy as you gather information and lessons learned over time.
Wishing you a great weekend and well-defined target customers,
Courtney
