The Challenge
The Point-of-Sale arm of a major payments processor was not performing to satisfaction in the small business sector. With the economy primed for a rebound from pandemic levels, the company’s marketing leadership wanted to refresh its POS strategy using behavioral data and update the product roadmap, ultimately to improve the ability to acquire and retain merchants.
Project Description
Leveraging interviews, surveys, and data segmentation methodologies, we conducted buyer behavior analysis and created engaging new Persona and Journey tools for SMB (Small & Medium-sized Business) merchants, thus exposing key needs, pains and opportunities that customers experience when considering, exploring and purchasing a POS solution.
Outcomes Delivered
- 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
