When Your ICP No Longer Works - How to Adjust Your Ideal Customer Persona
Apr 23, 2024
Picture this: You kickstart a business with one product in mind, only to realize down the road that another product might fit better. What's your next move?
Once the initial freak-out moment passes, there's a helpful decision-making process waiting for you. Take a breather – all hope is not lost. You've got options for tweaking your product or service or reshaping your customer base. Here's the lowdown on how to go about adjusting your Ideal Customer Profile or Persona (ICP).
What Needs Tweaking – Your ICP or Your Offering?
Once the dust settles, think about where your heart lies – both in terms of time and resources. This is a pivotal decision. You need to strategically weigh the options between tweaking the product or service and fine-tuning the customer base. Got a warehouse packed with products? It might be smarter to tweak your customer base so you can move what you've already invested in. But if your business philosophy revolves around serving a particular group, maybe it's better to adapt your product or service to suit your intended customers.
Research Is Your Best Friend
Okay, panic mode is over, you've done the legwork to figure out your ICP, and your business is back on track. But here's the deal – the work doesn't stop there. Like most things in life, this is an ongoing process. Stay flexible and keep gathering insights using non-intrusive audience research tools and constantly consulting your business network. Continuously refining your Ideal Customer Profile is key as your business grows.
Keep Your Passion in the Picture
As businesses evolve, it's common to reassess and revamp your Ideal Customer Profile. Even if you've been raking in profits, people change – including you as a business owner. Focus on what brings you joy and fulfillment beyond just the dollars and cents. Sure, you need to consider buying trends, your preferred clientele, and keeping customers happy. But don't lose sight of why you started in the first place.
Roll with the Punches
External changes happen, whether it's advancements in AI impacting industries or shifts in the market. Being adaptable and responsive is vital for staying afloat. The world is in a constant state of flux, and you never know how the next curveball will affect your business. When the unexpected hits, you might need to tweak what you offer and who you offer it to. Take the invention of the car, for example – it transformed the blacksmithing industry practically overnight. Those who stuck to the old ways saw their businesses crumble, while those who adapted thrived in the new reality.
Adapt or Fade Away
In business, adaptability isn't just a bonus – it's a necessity for survival. Without it, your business risks becoming obsolete. Redefining your ICP is about making strategic decisions. Make sure your choices align with your personal values. Financial success isn’t everything. You have to make sure you’re finding genuine fulfillment. Your business will always be evolving and changing, but for those who stay committed to being proactive and adaptive, the rewards are always there.