A food manufacturer of pre-packed lunches for kids might describe their customer as busy moms. Another maker of similar packed lunches may describe their customer as moms 30 – 45 who work full-time out of the house, in major metropolitan cities. Her children are 4 to 8 years old and are picky eaters. She needs a quick, convenient way to feed her child lunch at school or daycare and doesn’t want to compromise quality. She already has guilt that she’s not making her child’s lunch from scratch or baking cookies so she wants to know that this is a healthy option that her kids will also eat.
Which company do you think will enjoy hypergrowth in their business? Which can better reach and compel their audience to buy their product?
When you serve a niche market (or even better, a micro-niche), and can clearly define your ideal customer and their emotional needs, it’s significantly easier to focus on speaking directly to that audience. All of your product development, customer service, packaging and marketing decisions get clear. And results follow.
In my work with larger organizations on buyer personas, even with mass products, we are still able to drill way down deep to define their ideal customer attributes and details. They may just have more personas than a smaller company. I rarely recommend more than six personas, but have worked with companies experiencing growth in the business, and expanding their personas. With startups, individual professionals, and new product lines, this is ongoing work as your position and the market response shifts over time.
If you think the world is your audience, that being human qualifies someone as a prospect, you are wrong and I can confidently say that you will not enjoy hypergrowth. Even if you are selling water or air. Every human might need your product, but their state of mind, personal opinions and perspectives, financial situation, location and many other factors are brought into the decision-making process. You need to know all of these factors and how you uniquely address them.
Don’t believe me? Hear what Seth Godin has to say about hypergrowth here.