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Ideal Customer and Key Performance Indicators

Posted on 17 October 2017 by admin (0)

Once you have developed a solid Value proposition you should have a clear idea on your Ideal Customer.

Key Performance Indicators

Your Ideal customer should be a definable segment of a population. For example, Urban Millennials, Or First-time home owner. Whatever it is you need to be able to define the demographics, mentality, buying triggers and likes and dislikes.

Demographics play a vital role as they can help form a common set of beliefs. Every age group was raised under different set of social norms and values. For instance, if you were born in 1940 you likely had a very poor upbringing and your family really valued money, saving everything they could.

Whereas if you were born in the 90’s the economy was better and most people have credit cards or borrow money. The younger generation is more accustom to credit and willing to borrow more.

Once you have a good idea of their Demographics you can decipher some this type of information and really help nail down your messaging.

Key Performance Indicators, KPI, is just a long term for a measurable aspect of success. Depending on your type of business you may want to drive sales with a certain service or product. Perhaps you want to drive awareness and engagement to your organizations cause. Two very separate goals but both can be tracked with KPI’s.

For instance, maybe, your goal is to launch a new business website. You have been doing a work for a bit but just by word of mouth. Building a website should bring you additional customers, if done correctly.

Your KPI would be how many customers you get from your website per month.

You could track this simply by asking the customer how they heard about you. Or setup a tracking system to track the calls and request the site generates, easily. Either way, you have defined a KPI and how to track it. Additionally, you will want to set goals increasing those KPI’s but first get a baseline of where they are currently.

Maybe a KPI is performance based, the number of shares or likes your campaign got on social media for a certain post. That’s easily trackable and a great indication of awareness to your subject.

Best Practice is to define your KPI’s, define how you will track it, and then review this process once every month or at a set interval over a years’ time.

 

 

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