Hello, I'm Terrence Branley from C2H Growth Partners YouTube channel. Today, I will show you the difference between the target market vs the ideal customer: what is more important. This is the crucial topic of understanding your ideal customer's avatar and how to identify the target market and an ideal customer profile. So, let's watch the entire video and learn about the total addressable market vs target market vs target audience, and explore who is your ideal client profile.
As a consulting expert focused on helping manufacturing businesses achieve operational efficiencies and effective supply chain management, I’m going to be breaking down exactly the concept in a way that is easy to grasp and apply to any business venture, how to identify your target market, and giving you target market examples of what that might look like for your business.
Are you wondering what exactly a target market is? Who is your target market? I'm also explaining it as a broader category of potential customers for a business. For example, a consulting firm specializing in helping manufacturing businesses across different industries achieve operational efficiencies and supply chain management. An ideal customer is someone who is part of your target market. They are likely to be potential buyers of your product or service because it solves a specific problem or fulfills a need or want.
Your ideal customer profile represents a specific and finely tuned description of the most profitable, loyal, and cooperative customers that your business has. It's the segment that aligns perfectly with your offerings and values your products or services the most. You can also learn from this video how to pinpoint these golden customers by looking closely at your top 20% of most profitable clients and customers, following the famed 80/20 rule.
Here, I'm also emphasizing the importance of analyzing who among your customers is the most loyal and supportive, as well as who causes the least hassle. With these key factors in mind, you can piece together a comprehensive ideal customer profile that serves as the foundation for your business growth strategy.
Curious about how to find these ideal customers? I'm sharing effective methods to locate potential customers who match your ideal customer profile. From leveraging LinkedIn, and digital tools especially in business services groups, to tapping into data lists from trade associations and private data providers, there are abundant opportunities to discover your dream customers.
If you're ready to unlock the potential of your business and attract customers who truly value what you have to offer, learn the art of distinguishing your target market from your ideal customer profile and revolutionize the way you approach your marketing and sales efforts. Let's embark on the journey of finding your ideal customers for business success. If you have any questions or need further assistance, feel free to reach out to me.
Remember, your success lies in knowing who your ideal customers are and how to find them. Let's make it happen together! 🔥
00:17 Who is Your Target Market
00:57 Target Market vs Ideal Customer Profile
01:39 Identifying the Ideal Customer Profile
02:27 Using Business Services Groups
