Market segments
Label: Market Research
Segments may be defined by: demographics, geographical area, maturity of the market, lifestyle, industry, hobbies, and other characteristics.
This tool will help you define your buyer and compare your different segments — including your anti-buyer to visually find the characteristics that make someone a buyer and what channels you should be using to reach them.
Steps:
STEP 1
Define your Top markets.
Focusing on your top 3 or 4 markets (6 max), define their key characteristics.
- Geographic(Where?): Countries, nations, cities, etc.
- Demographic: Age, gender, sex, education, family, and income.
- Psychographic: Lifestyle, social class, and personality.
- Behavioral: User status, usage rate, benefits, occasions, and loyalty attitude.
STEP 2
Select or define your early adopter.
Who would be the early adopter and why?
An early adopter is an individual or business that will use a new product or solution. This user usually is excited about the product or solution and helps companies grow by providing feedback.
STEP 3
Anti-buyer (or anti-user)
In this step, identify and define those people you don’t want to target.
Open the board and think about your buyer and your anti-buyer.
- What do they have in common?
- What do they do differently?
- How do they think differently?
- How do they feel the pain?
How would you use this information to better target your buyer? How would you use this information to find them? What channels will you use?
STEP 4
Step 4: What additional information do you need to discover about each segment?
What additional information do you need about each segment? What are you assuming, and what should be tested?
Answer the following questions. Ask yourself how you know the answer, and estimate how accurate your answer actually is.
- How often do they suffer? How long, What amount of time/money is wasted by the problem?
- How do they talk about the problem (pain)? When?
- Why can’t they solve it themselves?
- How have they tried to solve the problem and failed?
STEP 5
Go over the template and add all the characteristics of each segment.
- What if they could solve it? What would life be like? Show them the possibilities of a life without suffering. Show them the reverse of all the things we identified above.
- What is your solution? What is its physical nature of it? What is included?
Get access to this tool for free inside @Nova.
Nova is a collaboration and productivity platform that leverages intelligent technology to help teams work together while coordinating the work for you – so teams can share their knowledge and get things done efficiently. Unlike other platforms – Nova helps organize work by goals, people and deadlines and includes tools like whiteboards, tasks and documents to get things done in the same space.
Nova was Co-founded by Ro Fernandez so includes all our tools.
Here is an overview. Nova includes a collaborative space, a template, a video/voice call, a trackable step-by-step process, an intelligent report, and more.