I want to share with you an idea that can make your sales and deal-closing process much smoother while simultaneously accelerating your product or service development with less development work.
The core concept revolves around identifying the most promising customer segment, which I like to refer to as the “Minimum Target Customer Segment,” drawing parallels to the Minimum Viable Product concept. These are the customers who not only have a genuine need for something your competitors aren’t providing but are also accessible for your sales efforts.
So, how do we go about this?
1. Identifying Your Product Vision: First, we delve into your existing product roadmap and vision. We aim to identify target segments within your customer base, focusing on their unmet needs that your competitors are failing to address.
2. Understanding Requirements: For each potential segment, we dig deeper to understand their specific requirements. What are they currently missing? What features or solutions are essential to fulfilling their needs?
3. Finding the Right Fit: Next, we assess which of these segments aligns best with your product development capabilities and sales strategies. What compromises or adaptations might be necessary to cater to this segment effectively?
4. The Most Potential and Minimum Customer Segment: Finally, we pinpoint the ideal Target Segment Roadmap for you. When your product is tailored precisely to their needs and you can differentiate yourself effectively from competitors, the sales process becomes significantly easier. Your product becomes the clear choice for these customers, as they are unsatisfied with existing alternatives.
The beauty of this approach is that it streamlines your sales efforts by allowing your team to focus on the segment where you can make the most impact. When your product resonates with your target audience, and you offer something that competitors cannot, closing deals becomes a natural outcome.
If you’re interested in the potential of this approach, I invite you to book a 100% free two-hour pre-study workshop with me. During this session, we’ll assess your existing market research, identify data gaps, and determine the scope of your market research project.
Thank you for your time today, and I hope to see you again soon.