Most businesses choose their target customer based on self-perception of their brand, and then the marketing team goes after them. With marketing software churning to target this larger base with messaging, Jacobi’s dealership sold 15 motorcycles during Albert’s debut weekend. We decided to peel back the layers to reveal our “best customer.” To uncover the fabric of our radical buyer, we crunched data, captured survey responses and interviewed current and past customers by asking, “Do you identify as an entrepreneur or a small business owner?” and “Does your business compete on price, quality or service?” to drill down to their attitudes, behaviors and beliefs.We also asked about their buying intent and how well we were helping them overcome challenges. These customers were also detractors, so we shifted focus to our promoters: Small business owners looking for an all-in-one sales and marketing platform that’s simple to use. In fact, 83 percent of the world’s leaders use it to communicate with their audience and promote their brands. Sales and marketing teams waste a lot of time, money and energy chasing and even celebrating the wrong type of client. To find the right clients, research is crucial. Although our survey of current clients found promoters and detractors, we also stepped outside our pool of customers. With this carefully crafted net, we were able to find unexpectedly ideal clients and reel them in. While moving the target often means changing your company in a fundamental way, it’s sometimes the only path forward.
Most companies trust their “gut” when locking in their target market. After all, the larger the prospect pool, the bigger the sales growth, right?
Not so fast.
It’s not as simple as selling your products and services to anyone who will throw you a few Benjamins. To truly grow your business and keep customers coming back, you need to intimately know who your “radical buyer” is.
Most businesses choose their target customer based on self-perception of their brand, and then the marketing team goes after them. Your own perception of your brand, however, doesn’t always reflect what’s actually happening in the marketplace, leaving your business vulnerable to missed opportunities and growth.
Harley-Davidson’s typical target customer, for example, is almost a cliché: bandanna, sunglasses, maybe a beard and lots of leather — not the type who cruises around Manhattan in January. So Asaf Jacobi wasn’t surprised when winter sales at his New York Harley-Davidson dealership were low. He was selling only one or two bikes a week.
However, instead of chalking up the poor sales to timing and location demographics, Jacobi took a risk and implemented Albert, a marketing tool with an AI engine. Albert quickly found that the Harley customer base in New York City was much broader than the small niche normally associated with the brand. With marketing software churning to target this larger base with messaging, Jacobi’s dealership sold 15 motorcycles during Albert’s debut weekend.
Though AI is becoming more prevalent, not every business has access to an AI engine. Through data analysis, exhaustive research and testing, our company, like Harley-Davidson, discovered a new customer base.
Rebranding requires a deep dive.
When we launched Hatchbuck, we cast a wide net targeting salespeople, marketers and business owners. Although all of our segments were buying, we felt like some customers were a better fit for our sales and marketing automation platform. We decided to peel back the layers to reveal our “best customer.”
To uncover the fabric of our radical buyer, we crunched data, captured survey responses and interviewed current and past customers by asking, “Do you identify as an entrepreneur or a small business owner?” and “Does your business compete on price, quality or service?” to drill down to their attitudes, behaviors and beliefs.We also asked about their buying intent and how well we were helping them overcome challenges.
Surprisingly, our biggest promoters weren’t who we thought they were. While our software had been built for smaller businesses from day one, we’d been attracting larger companies looking for feature-rich software on a budget. These customers were also detractors, so we shifted focus to our promoters: Small business owners looking for an all-in-one sales and marketing platform that’s simple to use.
Concentrating on creating the…
COMMENTS