How to find your Bullseye Customer (when your ICP isn't enough)
Article written by
Stuart Brameld
In today's hyper-competitive market, knowing your Ideal Customer Profile (ICP) is just the tip of the iceberg. To truly stand out, businesses need to dive deeper to identify their Bullseye Customer—the specific subset of customers who not only align perfectly with your product but also drive the most value. As Michael Margolis of Google Ventures succinctly explains:
"A bullseye customer is the very specific subset of your target market who is initially most likely to adopt your product or service." — Michael Margolis, Google Ventures
In this article, we'll explore actionable strategies to pinpoint your Bullseye Customer, drawing insights from industry experts, and discuss how this targeted approach can supercharge your growth marketing efforts. Understanding how logic and emotion influence purchasing decisions can be a powerful tool in this process; learn more in Understanding Logic vs Emotion in Marketing and Growth. Additionally, understanding how to use a wedge marketing strategy can help you gain traction with your Bullseye Customer even faster.
Beyond the ICP: the need for precision
While defining an ICP helps outline the general characteristics of potential customers, it often lacks the precision needed for high-impact marketing. An ICP can be too broad, leading to diluted efforts and suboptimal ROI. By focusing on the Bullseye Customer, you hone in on the most promising segment—those who are most likely to become loyal advocates for your brand.
Stuart Brameld from Growth Method highlights the significance of this targeted approach:
"We find companies typically have 3 to 5 ICPs, and they are nowhere near specific enough. What's great about the bullseye customer sprint is that it forces teams to think through the specific characteristics of what makes up their best customers. Whilst the concept has been developed at Google Ventures for early-stage companies, it's a useful framing for growth marketers working with companies at later stages too." — Stuart Brameld, Growth Method
Introducing the "Learn More Faster" framework
The "Learn More Faster" framework, developed by Google Ventures, provides a systematic approach to discovering and understanding your Bullseye Customer. This methodology emphasises rapid learning and iteration to refine your target customer segment effectively.
Key principles of "Learn More Faster"
Customer-centric research: Engage directly with potential customers to gain deep insights into their needs and pain points.
Rapid prototyping: Quickly develop and test product hypotheses with your Bullseye Customer in mind.
Iterative learning: Use feedback to continually refine your understanding and approach.
Steps to identify your Bullseye Customer
Building on the "Learn More Faster" framework and other expert insights, here are actionable steps to find your Bullseye Customer:
Analyse existing data: Examine your current customer base to identify patterns in purchasing behaviour, engagement levels, and customer lifetime value.
Conduct deep-dive interviews: Engage in in-depth interviews with your most engaged customers to uncover their motivations and challenges.
Segment your audience: Break down your customers into specific segments based on demographics, psychographics, and behaviour patterns.
Validate with prototyping: Create targeted campaigns or product prototypes to test with each segment, observing which group responds most favourably.
Iterate and refine: Use the insights gained to continually refine your Bullseye Customer profile.
Key questions to uncover your Bullseye Customer
To delve deeper into understanding your most valuable customer segment, consider reflecting on the following critical questions:
Who are our most engaged customers, and why do they choose us?
What unmet needs do our best customers still have?
How can we better amplify the voices of our Bullseye Customers?
Are we solving the right problems for our highest-value segment?
What would make our Bullseye Customers actively recommend us?
By thoroughly exploring these questions, you can gain invaluable insights, helping you tailor your offerings and communication strategies to resonate even more with your Bullseye Customer.
The role of Growth Method in targeting your Bullseye Customer
Once you've identified your Bullseye Customer, executing a focused growth strategy becomes crucial. This is where Growth Method comes into play, streamlining your marketing efforts in several ways:
Goal-aligned ideation
Growth Method's intuitive system ensures that your marketing ideas are not just creative but also aligned with your team's objectives. By categorising and sharing ideas, it fosters collaboration centred on your Bullseye Customer.
Data-driven experimentation
Implement best practices from top growth teams with experiments that move through critical stages—building, live, analysing, and complete. Growth Method enforces time periods at each stage to increase velocity and learning, ensuring your campaigns remain agile and results-driven.
Advanced reporting
Impress stakeholders with detailed reports showcasing everything from high-level strategies to tactical execution. Demonstrating the value of focusing on your Bullseye Customer is easier with Growth Method's reporting tools.
Benefits of focusing on your Bullseye Customer
Higher conversion rates: Tailored efforts lead to more effective marketing and sales processes.
Increased customer loyalty: Meeting the specific needs of your Bullseye Customer fosters stronger relationships.
Better resource allocation: Focus your time and budget where it counts the most.
Enhanced ROI: Targeted strategies often result in a higher return on investment.
Future-proofing your marketing strategy
In a landscape where efficiency and ROI are paramount, zeroing in on your Bullseye Customer positions your business for sustained growth. By leveraging methodologies like "Learn More Faster" and tools like Growth Method, you can implement a systematic approach that not only identifies but also capitalises on this key customer segment.
Additional resources
For more in-depth guidance on finding your Bullseye Customer, consider exploring the following resources:
Introducing "Learn More Faster": How to Find Your Bullseye Customer and Their Perfect Product by Google Ventures
Identify Your Bullseye Customer in One Day by Michael Margolis
About Growth Method
Growth Method is the only work management platform built for growth marketers. We help companies implement a systematic approach to grow leads and revenue.
To date, our customers have recorded over 1,000 marketing experiments in Growth Method. Learn more about us on our homepage or book a call with us here. We're here to help you grow.
"We are on track to deliver a 43% increase in inbound leads this year. There is no doubt the adoption of Growth Method is the primary driver behind these results." — Laura Perrott, Colt Technology Services
Article written by
Stuart Brameld