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4 steps to identify your ideal customer

Below are 4 steps to identify your ideal customer:

#1 – Demographics 

• Define the physical components of your target customer

• 6 areas to consider…
– gender
– age
– income level
– ethic / culture
– location
– education

#2 – Psychographics 

• Define the emotional components of your target customer

• Identify their “hot buttons”

• Hot buttons are the problems, fears, frustrations and concerns most prospects experience when they buy what you sell

• Accurately identify your prospects hot button issues, then innovate your business to solve them forever, and you create a market dominating position

#3 – Business Profile

  • Does your business offer products or services that other business owners need or consume?
  • What businesses would distribute your product or service to their clients as a distributor or affiliate
#4 – Service / Price Levels
 
Both of these will determine the market you want to service
• Even when your market is driven by price, there are always segments of that market that will pay for quality, and raising prices enables you to invest in higher quality services
• Consider offering premier products or services for these individuals and businesses
Robert Ritch

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