SMB Buyer Segmentation
This work was very good. You showed perspectives we hadn't thought of.
— CMO
Opportunity
The Point-of-Sale arm of a major payments processor was not performing to satisfaction in the small business sector. With the economy primed to soon rebound from pandemic levels, the company’s marketing leadership wanted to refresh its POS strategy and update the product roadmap, ultimately to improve the ability to acquire and retain merchants.
Approach
Leveraging interviews, surveys, and segmentation methodologies, we conducted buyer behavior analysis and created engaging new personas for SMB (Small & Medium-sized Business) merchants, thus exposing the “wheres, whys, and hows” that customers make when choosing and purchasing a POS.
Results
Empowered the company to leverage growth both for sales and marketing
Created the critical link between traditional segmentation and personas
An actionable plan for applying personas, journeys, and segmentation analysis
Critical path in both near-term initiatives as well as longer-term strategic planning efforts
A set of new, robust buyer Personas that incorporated both qualitative psychographics and quantitative data that allowed the company to leverage growth both for sales and marketing
Powerful visualization of an end-to-end buyer journey from the business owner’s perspective, spanning from ‘getting starting’ to ‘making a decision’, and including detailed insights into first time buyers and switchers, their decision tree process, needs, pain points, and opportunities
A new approach to segmentation analysis, creating the critical link between traditional segmentation and personas Based on (16) attributes, grouped segments that allow targeting based on behavioral proxies, and identification of data that can be monitored to spot consideration triggers
An actionable plan for applying Personas, Journeys, and Segmentation analysis into both near-term initiatives as well as longer-term strategic planning efforts