WEBVTT 00:00.140 --> 00:05.210 In this video, I want to talk to you about something that's very important and can have a real crucial 00:05.210 --> 00:09.470 impact on your business, and that's identifying your ideal target market. 00:09.500 --> 00:14.680 You must know your customer extremely deeply, at times better than they know themselves. 00:14.690 --> 00:20.750 For example, I know the profile of the first time entrepreneur, often better than they know themselves, 00:20.750 --> 00:24.620 not on a holistic level as a whole, but when it comes to starting a business. 00:24.620 --> 00:30.170 So many people make the mistake of saying, My target market is everyone or all women or all men or 00:30.170 --> 00:30.710 all kids. 00:30.710 --> 00:37.400 Well, no, I know that you will take anyone as a client, but there is some group that you're absolutely 00:37.400 --> 00:38.300 ideal for. 00:38.330 --> 00:41.720 These are the people who will be like, Oh my God, where have you been all my life? 00:41.720 --> 00:47.180 And you have to identify that group and take every measure to get to know them deeply for two reasons. 00:47.180 --> 00:52.760 One is that once you get to know them deeply, you can create an ideal product or service for them. 00:52.760 --> 00:59.930 But two, it might just be that you have misidentified your group and the faster you pick it and identify 01:00.030 --> 01:02.340 it, you can take the steps to start testing. 01:02.340 --> 01:04.140 Is your hypothesis correct? 01:04.170 --> 01:11.790 Once you get to know them, you'll start to understand their day and how they go about discovering products 01:11.790 --> 01:12.360 like yours. 01:12.390 --> 01:16.830 And it's going to be easier for you to craft an ideal marketing message to them. 01:16.830 --> 01:19.770 The ideal time, the ideal place, the ideal format. 01:19.770 --> 01:26.310 But you'll also know how to speak in the way they think, so that they'll be like, Yes, I have wanted 01:26.310 --> 01:27.180 this for a long time. 01:27.180 --> 01:28.680 I want it, I'm interested. 01:28.680 --> 01:32.190 And so there are a couple of things you need to identify about your customers. 01:32.190 --> 01:34.020 The first are demographics. 01:34.020 --> 01:39.750 These are things you can distinctly measure age, sex, their income level, their marital status, 01:39.780 --> 01:40.620 their location. 01:40.620 --> 01:46.770 These are things you can know as a fact whether they own a car, whether they own a home, their spending 01:46.770 --> 01:49.470 habits, what kind of an education do they have? 01:49.470 --> 01:50.760 What kind of job do they have? 01:50.790 --> 01:53.250 You can even know their religion, ethnicity. 01:53.280 --> 01:54.900 Do they belong to some community? 01:54.930 --> 01:55.920 Do they go to church? 01:55.950 --> 01:57.300 Do they go to a community center? 01:57.300 --> 02:02.820 So these are all things you can identify and measure and they're factual, but it doesn't tell you the 02:02.820 --> 02:08.220 whole story about your customer because it's equally important are psychographic things like what do 02:08.220 --> 02:13.530 they need, what do they want, what are their desires and life aspirations? 02:13.530 --> 02:18.510 These are really human elements that you cannot get from some kind of analytics software. 02:18.510 --> 02:24.330 You really have to understand this through talking to them, getting to really know them. 02:24.330 --> 02:26.130 What are their hopes and fears. 02:26.130 --> 02:29.040 I mean, you have to spend a lot of time with people before you know this. 02:29.070 --> 02:34.410 You can get to know the types of personalities that are get attracted to your product or service people's 02:34.410 --> 02:37.560 beliefs, ethics values, for example. 02:37.560 --> 02:42.720 I really go out of my way to be more environmental, but that's just my value. 02:42.750 --> 02:45.840 Companies who tend to that win my business. 02:45.840 --> 02:51.690 You can also get to know what is the current way that they solve the kind of problem that they solve 02:51.690 --> 02:53.490 that your business also solves. 02:53.490 --> 03:00.870 If they have a current way, you can inject your business and marketing messages into their day when 03:00.870 --> 03:03.570 they're trying to solve that, you can say, Hey, we've got a better way. 03:03.570 --> 03:06.030 And what's their comfort level? 03:06.060 --> 03:07.140 How do they behave? 03:07.140 --> 03:09.510 Like, let's say you have a note taking product. 03:09.510 --> 03:14.790 If they're comfortable writing notes on a piece of paper, it's really hard to get them to use a note 03:14.790 --> 03:15.510 taking app. 03:15.510 --> 03:20.400 But if they already use a note taking app and maybe they don't like love it, they would be happy to 03:20.400 --> 03:21.990 switch if it was easy. 03:21.990 --> 03:28.590 So ease of behavior, having natural behavior and you understanding what their comfort level is, how 03:28.590 --> 03:33.060 they like to solve their current problems will help you also create a better product for them and a 03:33.060 --> 03:38.940 better onboarding experience for them so they can start using your product or service. 03:38.940 --> 03:43.050 So these are the things to get to know in your target audience. 03:43.050 --> 03:49.710 You see, it's much more to it than just saying, Oh, it's all women aged 30 to 39. 03:49.710 --> 03:51.030 No, there's so much more. 03:51.030 --> 03:55.650 You have to get to know them extremely deeply and the deeper you get to know them, the better business 03:55.650 --> 03:56.520 results you'll have.