Monkey Monday - March 14th, 2022

How to build a minimum viable audience for your business

Branding | Marketing | Online Marketing | Monkey Mondays

A minimum viable audience is the smallest group of people you can target while still meeting your financial goals.

Many companies try to sell their product to everyone who might want it. But as we know from Simon Sinek, the goal is not to sell to people who need what you have, the goal is to sell to people who believe what you believe.

The fact is, if you’re trying to appeal to everyone, you will end up appealing to no-one. The more different types of people you try to talk to, the more you will have to water down your message, your visual style and your brand. Do you want a watery brand that lots of people feel meh about? Or do you want a strong brand that a small group of people feel amazing about?

The more you narrow down your target audience, the easier it becomes to market to them. You can tailor content marketing specifically to those people, and it will be much easier to convert them into long-term brand advocates.

It also becomes much easier to advertise to people on social media. For example, you can target your audience on Facebook to get relevant ads in front of the right people.

Instead of screaming into a void, you’re talking directly to the people you want to do business with.

The main reason businesses fail to do this is that it’s scary. It’s scary to potentially alienate large swathes of the population. It’s scary to embrace a brand that could potentially offend some people. 

The key is getting your branding right for the small group of people you really want to win. If other people are turned off by that, it shouldn’t matter, because they aren’t the people you want to work with anyway.

Ultimately, working with a minimum viable audience will improve the quality of your transactions and increase long-term brand loyalty in customers you want to keep. So it’s a no-brainer when you think about it.

Are you feeling brave? Book a branding workshop or join us for a business breakfast to chat about how you can refine your target audience.

Transcript Show / Hide

Um, what's what is it?
If you press it I grow wings.
I'm not pressing your boobs.
It's because...
I'm going to report that.
I've grown, I've grown wings now. You're going to have to make them work in post. I'll move around look to make it really annoying. You could give it to Iulia. She could do it.
I'm not going to put anything there.
Check out my wings.
I'll put that, You're the Boss theme on again.
It's good. I'll switch them off.
Good. No graphics will appear at that point.
Okay. Fine.
Ah, hello!
Hello. It's a Monkey Monday.
With Matthew Burton and Chris Goor.
It's very newsreader.
Aged 40 whatever.
Yes. Um, so what are we talking about today?
Minimum viable audience. It's sort of, it's audience month, I suppose, on Rusty Monkey and this, you probably need to watch the previous video... You probably need to watch the one on audience versus user to understand some of what we're about to rattle out. You know, maybe you don't care.
It's going well so far, isn't it? I mean, I love the minimum viable audience stuff. I mean, it's a strange thing to love, but it's, it's like when people start...
You're a very lonely man, aren't you Chris.
I am yes. When people start businesses, they go, we want to appeal to everyone in the world. And then you just go, if we appealed to - how many clients will we need to survive? If we appealed to 10 and that would be, and we needed three of them. That would be a more powerful thing. So I want to, um, set up, uh, a vet's practice for fish or certain types of fish. You know, something like that. You can, your marketing suddenly becomes richer and more vibrant, and you're not trying to like have the whole animal kingdom to look after is kind of a very different ask. I think. I like it.
I think it's smart. Isn't it? I know a guy called Andy Pilkington. Hi, Andy. Uh, he runs a little company called, uh, Very Metal Art and he's a great guy. He, he mostly does, um, animated, um, lyric videos for heavy metal bands in a way, another heavy metal reference. Uh, but he's so good at it, and he's so niche at it that everybody who ever wants one of those things, they just name drop Andy everywhere. Um, so it's just, you know, he's not trying to do animation for everybody. He's just found the audience and he does very, very good job. Very good job, Andy. Well done.
I think just lots of people get scared off by going, I'm going to ditch 80% of the world or more than that. And I'm going to concentrate on this tiny thing over here. I think it's really becoming quite powerful.
So could we could use our, uh, previous reference, couldn't we, of the, uh, what we talked about last week, the travel agent.
It was such a long time ago.
Wasn't it.
I can't remember.
You want me to remind you?
Okay. So we had a look at different types of audiences inside that crowd in a way, the travel enthusiast, crowd. Beach holidays, skiing holidays, city breaks, and the world traveler or explorer. And you can segment each audience down. So we could take that last one, the world traveler / explorer. And you could segment that down into backpackers, into people who like guided tours, or maybe there's a segment of people in there who really want to build their own bespoke journey. They want to go online and choose the locations and do their own travel arrangements. And you can help facilitate that. And that'd be a good service to give that audience. But then you go one step further. And find somebody inside that audience and find some real specific things they might care about. Like maybe it's the heavy metal fan again, let's bring some heavy metal back into it and they, um, they want to do all of that, but they, you know, we know that they want to stop at the heavy metal bars along the way. So if that becomes your minimum viable audience, your well-defined audience, then it's loads easier to market to those guys and girls and, uh, get the right messaging for them. And it's, it's much easier than just saying I sell the holidays! Fun in the Sun Holidays 2020, Inc. to everybody. Here you go, here's all the holidays. How do you want to find your holiday? Do you want to just sort by price and buy the cheapest one because you're tight.
Yes. And it's also, um, powerful thing. Like when you look at the Marty Neumeier quote in his book and, um, you zag when everyone else is zigging, if you're starting a company and you're looking what's out there at the minute, you can go and be really specialized in something that isn't really well-served at the minute, like backpackers in their thirties, having a midlife crisis, rather than backpackers who are just straight out of university, which is where most of them are, I suppose.
I can't believe we're giving these guys just this, all these great ideas, they can just set up all these companies now for heavy metal travels and people in their mid-life crisis... Crisis Tours.
Can we do a sort of, can we put it sort of disclaimer thing that we want some form of the profits?
Yeah, we want 1% of all your sales, please.
Thank you very much. Donate now.
Alright, 0.5%.
Who are you negotiating with?
Them, they're arguing with me, you just can't hear them.
So how do we identify it then? How do we, identify those people?
Um, I mean there's loads of tools out there I guess you can use, I mean, you could look at, um, social media demographics. You can pay for market research. Uh, you could just do your own research, look at, um, audience clusters on Facebook, for instance, or, uh, those platforms, uh, but kind of an easy way to do it in a way is if you're an existing company is to look at some audiences you may already have, and it saves a lot of money and time on research, because you might find you've got a group of people that you already work with or who are already your customers and you go, actually, more of these, please. If you can identify them, that's a good way of doing it.
And that's an easy way to market to them, is it?
That was probably me answering a different question. Wasn't it?
I dunno.
It is, because if you build, I mean, I knew a company and they actually, they literally pulled a persona out of somebody that they knew. They went this is exactly the person that we want to work with. And they used her, I think her Instagram page as the, almost the exact persona. She likes these brands. She goes to these places. She hangs out with these people. So once you know that you can, um, you can market to people who look like her really well.
And it does feel reasonably scary for a start, doesn't it. Just marketing to less people than you anticipate you should do, but it's good to be brave, right?
Yeah, because the knee-jerk reaction is, oh, we don't, you know what, if some people don't like this and especially as you're building your brand to appeal to that audience, if you're brave enough with it, you might go, well, we want to talk to this audience. So we're going to do it in this way. We're going to be the rebel. We're going to be, um, we're going to swear in our marketing, we're going to be really brash with our colours. We're going to be a disruptor and in doing so you might get there and go, wow. Our main audience is going to love this, but I think it's too scary. I think other people won't like it and that's when people sort of roll it back and go, oh no, no, no. Let's get rid of all of that. Let's, let's dilute it down to try and appeal to a wider audience, but it's, it's, that's the hard thing is, is to be brave and stick to the message that, you know, your audience will love. That's the that's where good brands do great.
Yes. Swear.
More swearing. That's it we're finished. We got there. Let's show some out takes
It's basically just Matt laughing.

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