Who Is Your Business' MVP A DIY Guide to the Most Valuable Personas

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A DIY Guide to The Most Valuable Persona.

How much money are you leaving on the table by targeting the wrong customer? How well are you managing your customer acquisition? Is your customer strategy steering the business well? Are you maximizing your profit pool?

Starting, growing, surviving, and thriving customer strategies is a matter of navigating through your customer portfolio and steering in the right direction of your most valuable customers.

eBoost Consulting’s persona development process is an intensive 4-6 week engagement. In August Brown Bag webinar, we teach SMBs how to run through a DIY customer audit. You’ll learn:

•How to separate assumptions from facts.
•How to determine what customers matter to your business (and which ones don’t)
•How large your competitive advantage is.
•How to transfer these insights to your 2011 marketing plan.

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Who Is Your Business' MVP A DIY Guide to the Most Valuable Personas

  1. 1.
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  3. 3. Lesson Objective(s)<br /><ul><li>Illustrate the 3V Methodology
  4. 4. Demonstrate the key differences between market segmentation and strategic segmentation
  5. 5. Debunk the myth of persona development and market segmentation
  6. 6. Demonstrate how to organize information to develop personas.
  7. 7. Highlight the key components of a Persona Report.</li></li></ul><li>
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  17. 17. 3V<br />
  18. 18. 3V<br />
  19. 19. Value Customer<br />Who to serve?<br />3V<br />
  20. 20. Value Customer<br />3V<br />Value Proposition<br />What to offer?<br />
  21. 21. Value Customer<br />3V<br />Value Proposition<br />Value Network<br />How to deliver?<br />
  22. 22. Value Customer<br />3V<br />Value Proposition<br />Value Network<br />
  23. 23. Markets<br />Which segments & geographies?<br />Value Customer<br />Industries<br />Which product service categories?<br />3V<br />Value Proposition<br />Value Network<br />
  24. 24. Markets + Industries = Persona Development<br />
  25. 25. Markets + Industries = Marketing Segmentation<br />
  26. 26. Persona Development is a form of Marketing Segmentation…<br />
  27. 27. Persona Development is a form of Marketing Segmentation…<br />…that sticks.<br />
  28. 28. Persona<br />Development<br />
  29. 29. Identifier<br />Variables<br />Persona<br />Development<br />Response<br />Variables<br />
  30. 30. Consumer <br />Market<br />Identifier<br />Variables<br />Business <br />Market<br />Persona<br />Development<br />Response<br />Variables<br />
  31. 31. Demographic<br />Consumer <br />Market<br />Psychographic<br />Identifier<br />Variables<br />Geographic<br />Business <br />Market<br />Market Size<br />Persona<br />Development<br />Response<br />Variables<br />
  32. 32. Demographic<br />Consumer <br />Market<br />Psychographic<br />Identifier<br />Variables<br />Geographic<br />Business <br />Market<br />Market Size<br />Persona<br />Development<br />Response<br />Variables<br />Behavioral<br />
  33. 33. Demographic<br />Consumer <br />Market<br />Psychographic<br />Identifier<br />Variables<br />Geographic<br />Business <br />Market<br />Market Size<br />Persona<br />Development<br />Benefits Desired<br />Application or Usage Situation<br />Response<br />Variables<br />Behavioral<br />Sensitivity to Marketing Mix<br />Purchasing Behavior<br />
  34. 34. These are the inputs you MUST gather in your research phase.<br />Demographic<br />Consumer <br />Market<br />Psychographic<br />Identifier<br />Variables<br />Geographic<br />Business <br />Market<br />Market Size<br />Persona<br />Development<br />Benefits Desired<br />Application or Usage Situation<br />Response<br />Variables<br />Behavioral<br />Sensitivity to Marketing Mix<br />Purchasing Behavior<br />
  35. 35. Specifically…<br />Demographic<br />Consumer <br />Market<br />Psychographic<br />Identifier<br />Variables<br />Geographic<br />Business <br />Market<br />Market Size<br />Persona<br />Development<br />Benefits Desired<br />Application or Usage Situation<br />Response<br />Variables<br />Behavioral<br />Sensitivity to Marketing Mix<br />Purchasing Behavior<br />
  36. 36. We gather information from three sources:<br />Demographic<br />Consumer <br />Market<br />Psychographic<br />Identifier<br />Variables<br />Geographic<br />Business <br />Market<br />Market Size<br />Persona<br />Development<br />Benefits Desired<br />Application or Usage Situation<br />Response<br />Variables<br />Behavioral<br />Sensitivity to Marketing Mix<br />Purchasing Behavior<br />
  37. 37. Three Sources of Information<br />Internal Interviews (conducted with the company team)<br />External Interviews (conducted with current and prospective customers)<br />External Research (databases, market research sources)<br />
  38. 38. After we gather our data, we organize it in a “Fact Pack”.<br />
  39. 39. A “Fact Pack” looks like this.<br />
  40. 40. Next we add up the inputs in the three categories.<br />
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  51. 51. To illustrate, let’s see an example created by Intern Chris for one of his class projects. He created a site called mountainbikingsandiego.com and developed a persona for it. <br />So meet Bill!<br />
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  59. 59. For those of you developing or redeveloping websites, the inputs from the Persona Reports can be used for Conversion Design. For instance…<br />
  60. 60. …developing your Information Architecture…<br />
  61. 61. …and the Plausible User Case Scenarios.<br />
  62. 62. …but we’ll talk about that in the Conversion Design lecture series.<br />
  63. 63. Lesson Recap<br /><ul><li> There are three sources of information you need to gather to develop personas.
  64. 64. Follow the 70/30 rule to information organization.
  65. 65. Be objective.
  66. 66. Determine what customers matter to your business (and which ones don’t).
  67. 67. Transfer insights into your 2011 Operations Plan.
  68. 68. Every section of the Persona Report counts! It reflects demographic, geographic,</li></ul> psychographic and behavioral traits. <br />
  69. 69. or visit us on Twitter @eboostconsults<br />

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