Who is your intended audience? What type of person do you anticipate benefiting the most from your product or service?
So you’re running a small business and you want to figure out your customer segments. Now this is just beyond your buyer personas – which I recommend you should do using this tool. For example let’s say you own a cloud computing company. Your Customer Segments aren’t just Business-to-business (B2B) companies, or their CEOs. Your Customer Segment might actually be (1) business owners and (2) other cloud computing companies like you who don’t specialise in your particular field. But still provide you with access to untapped areas of the market. In this instance you wouldn’t sell to them but you can sell through them. They should also be listed as a customer segment.
Now there are many businesses that operate in this way especially in an SMB size. So you will have businesses that have partnership models. Often, mortgage broking companies use this model, where they have individual freelance or solopreneur mortgage brokers who come under the umbrella name of the bigger mortgage brand. You have financial companies that offer this kind of thing too.
So when you’re thinking about your customer segment, try to think beyond just who you’re talking to. Try to innovate in this area where you can, think of some ways that you can generate a market for yourself. Where can you create an audience, or create a customer base that maybe you’re not tapping into right now?
Determine your customer base
Who is your intended audience? What type of person do you anticipate benefiting the most from your product? Is there a group of individuals you anticipate itching to sign up for your service?