Chapter 5. Customer demographic and audience Flashcards
Traditional demographic
Age, Location, Sex/Gender, Ethnicity, Income
New Demographic
Interests, Passions, Skills, Beliefs, Values
It is beneficial to view a market not with business point of view but…
with someone shopping/existing in the markets point of view (shop owner of specific niche) or (customer in specific niche)
Networking with existing stores can…
Allow for access to their shelves as a place for you to sell your item
two issues that can be addressed to fix not having any sales
Changing what she offered
and changing who she offered to
A good business opportunity can present itself in…
place where an abundance of people have interest in a topic But have trouble implementing it into their daily lives
To give them the fish is to…
give them exactly what to buy, cook, eat, each week
Most people prefer to
buy, not be sold too.
persuasion vs invitation
persuasion is old and requires you to crack a person to buy, while invitation makes people want to be a part of your product/service
an effective way to figure out if a business is worth chasing
Ask customers or prospects or anyone you find fit to ask if they are willing to purchase, or better yet how much are they willing to pay.
Starting point questions for finding out if an idea is worth chasing
- what is your biggest problem with ____?
- what is the number one question you have about ____?
- what can u do to help you with ____?
ways to check approval with larger scale audiences
Google form surveys
Surveymonkey.com
another effective manner of testing Ideas
Having a customer list where you can email them about possible projects.
In which you apply a ranking scale to each idea from
No thanks ——->to I need this
1-5 but with cool words
a survey should only contain about ____ questions
ten
It is important to remember that Majority opinion is…
Not everything, and following what the majority wants can lead to unhappiness
the customer is…
not always right
most basic questions of a micro business
•Does the project produce an obvious product or service
•Do you know people who will want to buy it (or know where to find them)
•Do you have a way to get paid
decision making matrix
A scale where you rank your ideas numerical and then run them thru a rubric that consist of a 5 point scale.
decision making matrix categories
Impact
Effort
Profitability
Vision
Sum
Key points for Chapter 5
• Who are your people? You don’t necessarily have to think of them in
categories such as age, race, and gender. Instead, you can think of
them in terms of shared beliefs and values.
• You can often follow a fad, craze, or trend by establishing yourself as
an authority and simplifying something about the process for others
hoping to benefit from it.
• Use surveys to understand customers and prospects. The more spe-
cific, the better. Ask:
“What is the number one thing I can do for
you?»
• Use the decision-making matrix to evaluate multiple ideas against
one another. You don’t have to choose only one idea, but the exercise
can help you decide what to pursue next.
