Are you in need of a customer profile template?
A customer profile is one of the most important documents and assets for every business.
Having a strong customer profile or none at all can be directly traced to the failure or success of businesses. Whether you are a brand new startup that hasn’t launched yet, or you already have decades in business and are finding your profits and customer retention isn’t where it should be, you need a customer profile.
Unfortunately, this is an area in which many entrepreneurs and business owners slip up. So, what can a great customer profile do for you? What does it look like?
Customer Profiles 101
The overwhelming majority of businesses fail in just a few years. Many in the first 12 months. That can all be tied back to a lack of a good customer profile and the reason why you want to have this customer profile template.
The top reasons for startup failure are given as lack of product-market fit, poor financial management, and having the wrong team. Those are all results of not knowing your customer well and targeting or reaching the right customers in the right way.
A customer profile breaks down exactly who your best matching customers are, and what you need to do to connect and convert them.
It is the very foundation of developing the right product, business model, marketing channels, and content. All right down to the optimal colors, prices, and words to use, and the precise moments.
This really makes the customer profile the very first thing you should do as an aspiring entrepreneur or business owner.
You may fill out this customer profile template yourself by acquiring data and talking to lots and lots of consumers. Or you can give it to a team member or third party to conduct unbiased research and fill in the blanks for you.
When it comes to startup success also remember that you are going to need to surround yourself by great investors that bring in the know-how. They will require you to have your information about customers up to date.
Keep in mind that in fundraising storytelling is everything. In this regard for a winning pitch deck to help you here, take a look at the template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash.
Remember to unlock the pitch deck template that is being used by founders around the world to raise millions below.
Customer Profile Template
Start with a couple of sentences outlining the solution you are providing and the perceived problem you are solving.
Introduce the perceived big picture of your customers. How many are there, what are the most basic things you know about them or want to target.
For example, a B2B company may be targeting the CEOs of other companies in a certain industry with at least $10M in revenue. Or it could be luxury car shoppers. You’ll validate this and break it down as you move through this template.
This is one of the key areas of this customer profile template. Who are the individuals that are your ideal target customers? Even if you are a B2B business, it is still a human that is making the buying decision for now. So, how are they?
Do be careful not to discriminate. It’s worth noting that even though some of today’s marketing platforms will allow you to target by some of these filters and others, they may still be illegal in your industry, or may open your company up to serious lawsuits and brand damage in the future.
Some of the factors to include here include:
- Age range
- Family status
- Finances and income
- Careers and job titles
- Lifestyle interests
Understanding the demographics is not only important for the customer profile template, but also it will be a critical aspect in order to develop effectively your spending on the marketing side. On the video below called how to create a marketing plan I cover this topic in detail.
Their Pain Points
What pain are they experiencing? What keeps them up at night worrying and searching for solutions? Be sure to ask and verify. Don’t just assume.
Their Desires & Aspirations
Knowing their pain isn’t enough. You have to be able to move them to pleasure. You can only do that if you know what they really want, and what they think will make their lives better.
Where They Hangout
Where can you find them? Are they in the office 120 hours a week? Are they working from home full time? Are they at networking events or the local bar? Where do they hang out online? Is it in forums, LinkedIn, on TikTok or Tinder?
Preferred Methods Of Communication
This is one of the biggest blunders new company starts make and a critical aspect of the customer profile template. It’s not about you, it is about them. What are their preferred ways of communicating? Is it voice or video calls? Text messaging or email? Live chat or traditional mail?
Where do they get their clues from? What are their brand affiliations? What colors and language and smells and sounds are familiar and pleasing to them?
If you are trying to improve on an existing type of product or service, what features are they craving?
The Customer Journey
This is critical. You can get everything else right and then blow it here. What is their shopping journey? How long is it? What are the stops on the way? What media does it involve?
Hopefully, this post provided you with some guidance as you are looking to take to the next level how you are handling your customer profile template.