When it comes to customers then we need to focus on the customer’s desires. In the car of ENTREPRENEURSHIP, the desire and customer are the steering wheel and accelerate. I will try to explain the customer’s desire in this article.
What are your customer’s desires from your product?
Consider your dream car in front of you.
So what is the first thing that you need to start the car?
Yes, It is the key to your happiness. I mean the Key of your dream car.
Without the key, you can’t start the car. similarly, without customers, you can’t start the business.
I believe you have read my previous article related to the Business Model. If not then you can read by clicking on this link.
so far, you have understood about customers.
Now, let’s go deep into it to understand the customer segment
It’s the first column on the right side of the business canvas model.
Customer segment refers to a group of people, users, and organizations for which you wish to create value, by addressing problems and needs, you can understand the customer segment of your business model. Identification of problems is going to take place here.
For the B2C (Business to Customer) business model.
you need to keep following things in mind and from the course of management here comes the 3A’s.
Attribute refers to the physical characteristics of the user. It can be Income or turnover of the business, sex, area of living, education, religion, and age.
Note:- Age factor is very helpful to understand the customer segment.
Example:- Chocolate-making companies always choose customer segments by selecting the age factor. They can’t target those children who are below 10 years of age for DARK CHOCOLATE.
Attitude refers to the mental aspect of the customer, How your customer thinks? While writing a business model you can categorize the attitude of your customer into many things such as serious, playful, outgoing, elegant, Intellectual, simple, vocal.
It simply means identifying the behavior of the customer. It also defines the niche of your business and it has wide scope too, such as health, tech, sports, food, travel, or finance.
Now you can easily fill the column of customer segment.
You won’t be able to offer the necessary directions to your sales and marketing teams if you don’t define customers correctly. It’s as if you’re running a marathon and have no idea where the finish line is located. You risk attracting the incorrect consumer, one who will squander your money, effort, and time.
Remember the Customer segment which I have discussed in the Introduction of the Business Model.
Now you can easily fill that section.
If you are not then you can read the following examples.
It is important to segment as it is the procedure in which we acquire the customers and also deliver value to the customers.
Generally, there are two ways to deliver value to the desired customers. One is ONLINE (through the internet) and the other is OFFLINE (no involvement of internet) and you can also use both.
Delivery channels can be direct or indirect.
Your business can have different-different types of relationships with its customer such as Personal, co-creation, communities, automated, and self-service.
the type of relationship you have with your customer.
This is not a one-time thing; you must comprehend it from the moment you acquire a customer until you maintain and develop them with your firm throughout the customer’s life cycle. The relationship technique must be defined.
Example:- Consider Zomato, a north Indian restaurant.
Now, understand this both are delivering the food, but in zomato customer interacts with intermediaries, and in-restaurant customers have face to face interaction. In zomato customer was keeping very short-term bond but in the restaurant, there is a chance of keeping a long-term bond, which is going to increase loyalty. In zomato an automated system is there, but in the restaurant personal attention is given to customers.
Now you can easily write under the column of customer relationship.
It is the primary reason why a consumer returns to us or stays with us regularly. It does not correlate with the physical dimension of the product also not related to any technology that you are using for your product.
It is the reason for customers to love your product.
Some of the examples of the value proposition are new, risk, design, status, cost, price, etc.
Be a listener to your customer to identify the value proposition of the customer.
Value Propositions can be categorized into three subparts.
Example:- you may like iPhones just because of the performance.
Example:- you may like the BMW car just because of its status symbol.
you may have taken insurance for yourself just to secure the future.
sometimes identifying the value propositions is a difficult task, but if you identify the value proposition then you can do wonders with your business.
Always remember that value propositions have a deep relationship with the customer segment.
Now you can fill the column of Value propositions.
I hope, I have thoroughly explained the customer’s desire for the business canvas model to you. If you still have queries related to the customer’s desire for a business canvas model you can leave a comment. I will surely respond to it. DO SHARE THIS ARTICLE with your friends or family who are engaged in any startup or business.
To your Success
-Rajat Negi, Logging Out