Smallest Viable Market
If you can’t make it small, what makes
you think you can make it big?
~ Seth Godin
Minimum Viable Product
In web and software development, the quickest way to a fully-featured product is to start with an MVP or Minimum Viable Product. Engineers build out what is needed to make the site or software work just enough and then continue to refine and fine tune it until they get it just right.
Engineers understand that launching with an MVP gives them advantages because getting something up and live gives them a definite sign of progress and valuable feedback to keep improving it.
As business owners, we can use this “agile approach” to guide our marketing, business, and sales processes and make use of these same advantages.
Smallest Viable Market
Instead of the MVP, let’s think of the SVM — Smallest Viable Market. Instead of trying to create and market to broad categories, we just focus on our single ideal customer.
Breaking down how to determine those answers starts with your Buyer Persona. A Buyer Persona is a profile of your best customer and why they’d be interested in working with you.
We can continuously refine this Buyer Persona to find out exactly who it is we’re engaging in order to better understand who they are, what pain they’re feeling, and how can we ease it.
This profile helps you to focus on who, why, where and when they may need your product or service. With that information, you can create a targeted marketing plan to define your offering get discovered.
Refine Your Marketing to Match the Need
Knowing if Fisherman in Florida are looking for ice fishing equipment is an obvious “no”. Knowing if your Buyer Persona is looking for an in-person seminar or a webinar is a bit harder to answer. Once you’ve created a clear Buyer Persona, the best way to figure these questions out is to take a step back.
Most business owners don’t take the time to look at their customers and see how their offering is communicated — many just consider it obvious. It’s definitely not obvious and your followers need guidance.
This lack of information or context may cause a potential customer or client to miss the benefits that are so clear to you because you’re fully immersed in your day-to-day business.
Community happens when you consistently educate, entertain, inform and inspire and that’s also the best way to teach your customers to love you!
Check out the links below to create your ideal customer or client Buyer Persona profile. Use your Persona to invite them to work with you in easy-to-understand steps that address their pain points and inspire them to take action.
- Make My Persona Tool
Create a Buyer persona that you can use to market, sell and serve your customers or clients better.
- If you can’t make it small, what makes you think you can make it big?
Seth Godin explains how 1,000 true fans are what it takes to make a living.
And if it’s too much, give me a call and we can define your dream client together! 203-610-1934