The Customer Formula
A formula for growth
At its core, business is pretty simple: sell something to someone who wants it, for more than it costs.
For many businesses that's how they start out, intuitively feeling their way to find their first customer and then a second and third.
Something is working. It's a formula. But all too often that formula starts to fail, leaving business owners confused and eventually concerned.
Familiarize helps businesses redefine their customer formula, so that businesses can get back to selling something to someone who wants it, for more than it costs.
Each customer formula is pretty unique, or at least it can seem that way. It's made up of a number of factors and variables, attributes which when combined give you the formula for growth:
demographics - business demographics (not personal ones that don't tend to help much), e.g. business size, sector, position in the sector, roles, departments, level of experience, budget authority.
psychographics - your customer's behaviours and attitudes, e.g. preference for co-development, risk aversion, innovation, early adoption.
job to be done - how your customer wants to make progress, functionally, emotionally and socially e.g. I want to fix this software to give me more time so I can take on a bigger project and get noticed.
influences - how your customer gets their information and how decisions are made, e.g. stakeholders, media and social media consumption.
For each one of these core attributes, you need to understand why each is important. For example, the customer's time in role may signify an authority that could translate into autonomy, a global role may imply multiple internal customers to buy your solution, activity on LinkedIn might signify a desire for persona brand.
The attributes help segment, the reason behind help develop effective marketing.
The combination of attributes makes finding your customer a challenge, but investing in defining your formula is the answer.
This is where Familiarize can help.