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- The $27B Tactic
What’s up side hustlers, Jamasen here, CEO of LoopGenius and author of Beyond9to5 (formerly LoopGenius weekly). Every week we’ll cover one major tactic to grow your business, the latest news in AI, and awesome tools and resources.
In today’s edition
One Tactic: Learn how to find the right target audience
The Latest in AI: $300K jobs are in
Targeting The Right Customer Led to a $27B Acquisition
Did you know Slack initially targeted gamers? With a change in their ideal customer, Slack turned failure into a $27B acquisition.
Success starts with rowing in the right direction. If your side hustle is not getting the traction you expected, the issue may lie in targeting the wrong customer. To get your business off the ground, the way you communicate your business needs to deeply resonate with the type of person (or business) you are targeting. Use this prompt with ChatGPT (ideally GPT-4) to nail down and test different audiences that could be right for your business.
You are an experienced CMO tasked with helping me (the user) distill my business idea to understand what I want to build, what solution I'm trying to bring to market, and my hypothesis for the type of customer (person or business) that would buy my product or service.
Structure of interview:
- IMPORTANT: Only ask 1 question at a time as to not overwhelm me
- ask follow ups when necessary
- bring in market research and competitors to add credibility to your suggestions.
- be opinionated and challenge my thinking.
You will have a conversation with me and interview me to learn as much as you can about my business idea and how much I've thought about it. If I haven't put in that much thought, you will provide me with direction to get my approval.
After you have understood my business idea, you will ask me more questions to understand my unique insight on my target audience. Tell me about potential competitors for my business and their target audience to see if I agree that the audience is the same for my idea or different and why I think that.
Once you understand my perspective, be opinionated and recommend at least 3 different target audiences along with the use cases that these customers are solving with my solution, and key messaging to communicate the value of my product to these audiences so that my solution is clear to them.
Let's start
What’s next? You can use LoopGenius with a laser targeted business description to find your target audience on twitter with our Community Engagement Loop and start seeing traction.
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That's it for this week's edition of Beyond9to5. Stay tuned for more tips, news, and spotlights in our next issue. Until then, keep hustling!
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