Getting to know your customer (AI version)

It’s critical to know your customer. What do they care about? What’s on their top 5 list? What do they do about fixing those things? What alternatives do they have?

One thing that bugs me is that 90% of the articles on this topic tell you to “look at your current customers and look for patterns amongst them, then use this information to figure out what your future customers will look like”.

OK, so this makes a bunch of sense…unless you are startup (or entering a completely new market.)

If you’re just starting, you don’t have any customers!

You cannot analyze any patterns amongst zero customers. Even when you have a few customers, how do you find meaningful patterns amongst so few data points?

As the fog starts to clear on what generative AI can do, one of the things that is starting to stand out is using it to brainstorm. Getting to know your customer is a good application for generative AI systems in my estimation. When you are starting from scratch you can lean on AI to get your creative juices flowing.

Say, I’m starting a business to help fellow startup B2B services businesses with sales. I might have a chat with Bing as below. (Yes, this is a real Bing session.)

What are the top 5 challenges of startup entrepreneurs that are founding B2B service businesses?

Founding a startup is a challenging task, and it can be even more daunting when it comes to B2B service businesses. Here are some of the top challenges that startup entrepreneurs face when founding B2B service businesses:

Lack of funding: One of the biggest challenges that startup entrepreneurs face is the lack of funding. It can be difficult to secure funding for a B2B service business, as investors may be hesitant to invest in a business that doesn’t have a proven track record.
Marketing and sales: Another challenge that startup entrepreneurs face is marketing and sales. It can be difficult to get the word out about your B2B service business, and it can be even more challenging to close deals with potential clients.
Lack of planning: A lack of planning can also be a significant challenge for startup entrepreneurs. Without a solid plan in place, it can be difficult to know where to start or what steps to take next.
Finding the right people: Finding the right people to work with can be a challenge for startup entrepreneurs. It can be difficult to find people who share your vision and are willing to work hard to make it a reality.
Time management: Time management is another challenge that startup entrepreneurs face. With so many tasks to juggle, it can be difficult to prioritize and manage your time effectively.

Break down the marketing and sales challenge you mention above into 5 sub-challenges. Use bullets.

Sure, here are five sub-challenges that startup entrepreneurs face when it comes to marketing and sales of B2B service businesses:

High competition: B2B tech markets are crowded and highly competitive, which can make it challenging for startups to differentiate themselves and stand out from the competition.
Building a brand and gaining trust from scratch: B2B startups can lack brand recognition and may have to work harder to establish themselves as a credible and trustworthy business. B2B purchases are generally high-value and involve a longer sales cycle, so it’s important to establish trust with potential customers. This can be challenging for a new startup without a proven track record.
Proving ROI: Businesses are looking for a specific return on investment (ROI) when considering a new product or service. It can be difficult for startups to demonstrate how their product or service will provide a positive ROI.
Limited budget and resources: Startups often have limited budgets and resources, which can make it difficult to execute a comprehensive marketing and sales strategy.
Reaching the right audience: Startups need to identify, reach, and build relationships with potential customers who are decision-makers at other companies. It can be challenging to identify and reach the right audience.

Tell me more about point #5 above “reaching the right audience”. Can you break this down into 5 sub-issues and tell me a good solution for each problem? Remember you are sales and marketing expert.

Sure, here are five sub-issues that startup entrepreneurs face when it comes to reaching the right audience for B2B service businesses and their solutions:

Identifying the target audience: The first step in reaching the right audience is identifying who they are. Startups need to understand their target audience’s needs, pain points, and preferences. A good solution to this problem is to conduct market research, which can help startups identify their target audience and create a buyer persona.
Creating a targeted message: Once startups have identified their target audience, they need to create a message that resonates with them. A good solution to this problem is to create a value proposition that clearly communicates the benefits of the product or service to the target audience.
Choosing the right channels: Startups need to choose the right channels to reach their target audience. This can be challenging, as different channels work better for different audiences. A good solution to this problem is to conduct research on the channels that the target audience uses and focus on those channels.
Building relationships: Startups need to build relationships with potential customers to establish trust and credibility. A good solution to this problem is to attend industry events, conferences, and trade shows where the target audience is likely to be present. This can help startups build relationships with potential customers and establish themselves as a credible business.
Measuring success: Startups need to measure the success of their marketing efforts to determine what is working and what is not. A good solution to this problem is to set clear goals and key performance indicators (KPIs) for each marketing campaign. This can help startups track their progress and make adjustments as needed.

Tell me more about conducting market research as mentioned in point #1 above. What specific marketing research methods would you recommend for a B2B services business, like a marketing agency, or a consulting firm? You are a marketing research expert. Please give your answer in 5 bullet points.

Sure, here are five marketing research methods that I would recommend for a B2B services business like a marketing agency or a consulting firm:

Surveys: Surveys are a great way to collect data from a large number of people in a short amount of time. They can be conducted online, via email, phone, or in person.
Interviews: In-depth interviews with key stakeholders in the B2B market, such as industry experts, business owners, and decision-makers, can provide valuable qualitative insights.
Focus groups: Focus groups are a great way to gather feedback from a group of people in a structured setting. They can be conducted in person or online.
Secondary research: Secondary research involves analyzing existing data and research reports to gain insights into the market. This can include analyzing industry reports, competitor analysis, and market trends.
Data analysis: Data analysis involves analyzing data collected from various sources to identify patterns and trends. This can include analyzing customer data, sales data, and website analytics.

As you can see above, it works quite well to keep prodding the AI to be more specific. Pick a point in the AI’s response and ask it to tell you more. The other consistent prompt approach that works well is to tell the AI it’s an expert in that topic.

The AI-Human Research Cycle

AIs can help us start researching a market when we have little knowledge, but there is a limit to how specific their knowledge is (at least for now.) They tend to talk a little generally, even when prompted to drill down and be specific. I find that actual humans have very specific niche challenges that Bing just does not seem to know about.

I suggest creating a “loop” between AI research and human research. Talk to the AI to get you started, talk to humans to get specific challenges, and then ask the AI what it has seen out there about this challenge. (It’s read more of the Internet than we will in our lifetime!)

Here’s an example of something along these lines. Let’s assume I had a few meetings with people in my B2B services startup market. Let’s say from this a gathered that one challenge these people face is building good prospects lists. I can go back to Bing and ask it what the Internet know about this.

One challenge for some startups that sell to businesses is that they do not have good lists of prospects to approach. As a sales and marketing expert, what do you recommend for finding contacts and building lists of prospects to approach?

As a sales and marketing expert, I can suggest the following ways to find contacts and build lists of prospects to approach:

Use B2B databases: B2B databases are a great way to access a wide range of contacts. You can also buy B2B contact lists from reliable sources.
Search on the internet and social networks: Search engines, company websites, business directories, and professional networking sites such as LinkedIn are some of the best places to find your B2B contacts that match your ideal customer profile.
Check the person’s email signature: If you’ve been in contact with the lead over email, check their email signature to see if they list their phone number next to information like job title, address, company name, etc. This is common practice for business professionals.
Look on the business’s website: A business’s website is a good place to start your search for phone numbers — especially the main line — because most businesses use their site to help customers find and connect with them 3.
Attend industry events: Attending industry events is a great way to meet new people and build relationships with potential customers.
Referrals: Referrals are a great way to get in touch with potential customers. Ask your current customers if they know anyone who might be interested in your product or service.
Cold calling: Cold calling is still an effective way to reach out to potential customers. Make sure you have a script ready and do your research before making the call.
Use intent data: Use intent data to find hot leads searching for a service like yours right now. UpLead is a B2B lead database offering access to over 85 million qualified leads with 95% data accuracy. In addition, UpLead offers useful prospecting tools like an email finder and verifier.

In point #2 you mention getting data from Linkedin. How can I build a list of 1,000 prospects to approach from Linkedin. Be as specific and actionable as you can. Give your answer in bullet point form. Recommend specific tools if you can. You are a sales and marketing expert.

Sure, here are some actionable steps to build a list of 1,000 prospects to approach from LinkedIn:

Define your ideal customer profile: Identify the characteristics of your ideal customer, such as industry, company size, job title, location, etc.
Use LinkedIn Sales Navigator: LinkedIn Sales Navigator is a powerful tool that allows you to search for leads based on your ideal customer profile. You can use advanced filters to narrow down your search and find the right prospects.
Leverage LinkedIn Groups: Join LinkedIn groups that are relevant to your industry and engage with members. This will help you build relationships with potential customers and generate leads.
Use LinkedIn’s Advanced Search: LinkedIn’s Advanced Search feature allows you to search for leads based on specific criteria, such as keywords, job titles, company size, etc.
Use third-party tools: There are several third-party tools available that can help you build a list of prospects from LinkedIn. Some of these tools include Dux-Soup, LeadFuze, and Skrapp.
Scrape data from LinkedIn: You can use web scraping tools like Octoparse, ParseHub, and WebHarvy to extract data from LinkedIn profiles and build a list of prospects.
Outsource to a lead generation company: If you don’t have the time or resources to build a list of prospects yourself, you can outsource the task to a lead generation company. Some popular lead generation companies include UpLead, LeadGenius, and CIENCE.

It’s worth telling the AI to be specific. The answers above mention specific tools. It sounds like some advice that may be actionable.

It seems like using AI and human research together could help some startups get to know their customer and get their sales efforts off on the right foot.