Goose on a Beach
What I learned about customer segments.
This week I learned a lot about picking a customer segment (or "market"), from my Paddle AI Launchpad friends.
I've been struggling with finding the ideal customer for my AI app, bunni.ai. Looking into my customer data, a few segments stand out, e.g. students, academics, and small business users. I know that I need to pick one to serve. But I wasn't sure how.
So I learned 3 things this week that will help me get unstuck...
Beachhead Market
It's a small segment of a larger market that I can serve well to start with, but with potential for going into adjacent markets. I don't have to just pick one. I can identify 2 or 3 to test.
(Thanks to Andrew from uncovered.so for this tip!)
Golden Goose
Who can pay the most and pay the fastest? And the way to get to this is to dig into my data, find those that paid (and paid the most), and work out what they used Bunni for. These are my "golden geese".
Once I know who my golden geese are, I go find more geese!
(Thank you @thisissukh_ from engyne.ai for this tip!)
Talking to customers
Well, we all know this. But are we doing it? And how relentless are we in chasing people up to talk to? I do send out emails to signups and or DM people directly, inviting them for a chat. But when they don't reply, I failed at chasing them up. I just assumed they're busy or not interested.
After hearing how a Paddle founder relentlessly chased up a call for over 100 days made me realise there's a whole different level to the game!
Conclusion
"Beachhead", "Golden Goose"... yes more "words". They're there to help you think through problems.
But the essence of all this is simple:
Be smart about picking your customer segments.
There is no certainty - pick a few to test.
Then be relentless about talking to them about their problems.