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El blog de Mikel Niño
Industria 4.0, Big Data Analytics, emprendimiento digital y nuevos modelos de negocio

Using the Business Model Canvas: the Customer Segments

Following with the analysis of the blocks composing Alexander Osterwalder's Business Model Canvas, and focusing on the two fundamental elements to identify the Product-Market Fit, after discussing some basic tips to capture our Value Proposition we will review some keys about Customer Segments and how to model them in our canvas.

Those two canvas blocks are very closely linked to each other, as Value Proposition is identified through the customers to whom you want to offer that value. In order to identify that value it is necessary to characterize in detail our targeted customers, what also will make it much easier for us to find specific people for our Customer Development interviews and to try to validate our assumptions with them.

That characterization should include socio-demographic variables (age intervals, place of residence, occupation) as well as some data linked to their problems, needs and usual motivations (what influences them, what type of solution they are looking for and how their experience has been). This allow us to know much more details about the seriousness, frequency and context of their experience with the problem.

Another very important aspect to be considered, depending on the kind of product we are launching and which type of customers is oriented to, is that in many cases we have very different profiles corresponding to the notion of "customer", according to their direct relationship with the product: the person who decides to buy it, the one who pays it, the one using it, or the one who recommends it... even in some contexts we have to consider someone who doesn't want our product to be bought! Having clarified all those profiles helps us not to fail when identifying the customer whose needs we want to model.

All this identifying and modeling work must be an iterative process where we make some assumptions about those elements and we validate or reformulate them by "getting out of the building" and gathering data directly from our potential customers. The basic resource for this contrast with customers must be a Minimum Viable Product, with which we will get the necessary feedback to check if we are in the right way or not (and to avoid building a product that no one is going to want), thus optimizing the time invested in product development while our customers validate our hypotheses.

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