Joan Muschamp (Fagnani)
said 1 year, 3 months ago:
@deairby Deciding on your ideal client can be driven by a number of factors, but available market AND your personal juju should both play a factor. (you have a better chance of long term success if you are happy). Who do you most enjoy working with?
Having a broad market appeal is a double-edged sword. On one hand, it is good in the event some segments change. However, it adds challenges to marketing, as you need to potentially have multiple messages and campaigns. How big do you want to be? Are you into really growing and adding employees? Or do you want to stay small, or like me, solo?
Looking at sales history is to me a key part of measuring. Which profile is the most profitable? Is that segment big enough to meet your goals?
Over time, your ideal customer might shift–other market forces might change it. So I believe benchmarking at set intervals is important, to ensure your marketing effort and expenses are well directed.
What your business does is important. For example, I am in a services business, so for me, I need to ensure I don’t spend valuable time chasing clients who will eat up my time for no profit. I have to make sure that what I do as a startup (eg working for today’s money) does not distract me from marketing to my ideals. That means while I have cycles, I will accept less than ideal, but I can’t keep chasing them.