Carefully characterize the target audience

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To accurately identify key users or customers, it is worth arming yourself with the popular 5W method of business consultant Mark Sherrington.

The method is based on five questions:

What — what we offer to purchase.

Who — who is the buyer.

Why — why should a client choose our product?

When — when the need for the product arises.

Where — where the final purchase takes place.

However, this technique south korea email list may not work when determining key indicators.

It would be wise to be flexible: describe the key customer, identify a group of primary and indirect consumers, and segment the product or service based on key parameters.

Then you will be able to more accurately define your target audience, achieve its greatest coverage, better understand its problems and create an optimal value proposition.

It is not advisable to segment users by one characteristic and focus on a specific problem. This can lead to a reorientation of the business to a narrow category of buyers and the loss of a large number of potential clients.

Download a useful document on the topic:

Checklist: How to Achieve Your Goals in Negotiations with Clients

Frequently Asked Questions about the Osterwalder Model
Based on the information about working with clients presented in this model, a sales plan is formed.

What are the main advantages of Osterwalder's model?
Advantages of the business model:

Scalability . When managing a company, you can quickly review strategic goals, focus on another product, and formulate a more precise development concept.

Visual display of key business processes . The document can be useful for both managers and regular employees, allowing them to better understand the conduct of business processes and the general patterns of the company's activities.

Financial stability of the enterprise . A unified concept of business development has a positive effect on financial activity, as it ensures a more efficient organization of work processes.

Advantage in the chosen industry . It is enough to devote time to developing a plan to achieve subsequent business expansion and a constant increase in profits.

Finally, thanks to this document, the company improves its market reputation and becomes more attractive to investors.

What are the main disadvantages of Osterwalder's model?
The main disadvantage of Osterwalder's model is that it provides only a superficial examination of a specific client or organization's problem.

In addition, this scheme has a primitive structure and includes less data compared to a regular business plan. It does not reflect competition, main directions of market development and end customers, does not involve environmental analysis and does not contain a documented business goal.

A number of shortcomings can be partially or completely neutralized by adjusting the model taking into account a specific business area. Within the framework of general adaptation, it is possible to expand or revise the canvas, optimize for a certain product or project.

What is the difference between Osterwalder's model and a business plan?
Alexander Osterwalder's model is not like a classic voluminous business plan, since it does not contain calculations, graphs, and diagrams, which can be difficult to understand even for an experienced analyst. Using this diagram, you can get a complete picture of the company's structure in a couple of hours. Using a ready-made template makes it possible to conduct business modeling even without experience in strategic planning.

At the same time, it is impossible to give an exact forecast regarding the success of a business based on the Osterwalder model. Its main purpose is to take into account all the key points when preparing to launch an enterprise. To conduct a numerical assessment of the business, after completing work on the Osterwalder model, they move on to detailed planning in each specific direction.

In turn, the items characterizing resources, general costs, personnel and relations with counterparties will be needed when drawing up a general financial scheme. Of course, the sales plan must also be included in its composition.