1. WHO IS YOUR CUSTOMER?
PRESENTED BY DANIELLA GENAS

2. Unlocking the success of entrepreneurs and their businesses
About This Session
Who am I?
Personas
Segmentation
Unlocking the success of entrepreneurs and their businesses

3. Unlocking the success of entrepreneurs and their businesses
About Me
Founder of Genas Enterprise Consultants
Started Aspire4u in 2006
Sold in 2015
MA Enterprise
MBA
Goldman Sachs 10ksb
BYPY Entrepreneur of the year 2013
Unlocking the success of entrepreneurs and their businesses

4. Unlocking the success of entrepreneurs and their businesses
Lessons Learnt
EVERYONE was my customer
No targeted marketing
Lack of understanding of my customers
Was not systematic
Unlocking the success of entrepreneurs and their businesses

5. Unlocking the success of entrepreneurs and their businesses
Who Is Your Target Customer?
A market is defined as any group of people with shared needs and buying power, while a market segment is a subdivision with a more specific need and a niche is an even smaller subdivision with a highly specific need. 
Unlocking the success of entrepreneurs and their businesses

6. Unlocking the success of entrepreneurs and their businesses
Who Is Your Target Customer?
What problem are you trying to solve?
Who will get the most value?
Who will pay for that value?
Can they afford to pay for the value?
Unlocking the success of entrepreneurs and their businesses

7. Unlocking the success of entrepreneurs and their businesses
Who Isn’t Your Customer?
EVERYONE!
Unlocking the success of entrepreneurs and their businesses

8. Unlocking the success of entrepreneurs and their businesses
Who Isn’t Your Customer?
Unlocking the success of entrepreneurs and their businesses

9. Unlocking the success of entrepreneurs and their businesses
Segmentation
“Market segmentation is identifying the most productive bases for dividing a market, identifying the customers in different segments and developing segment descriptions”
A market is defined as any group of people with shared needs and buying power, while a market segment is a subdivision with a more specific need and a niche is an even smaller subdivision with a highly specific need. 
Unlocking the success of entrepreneurs and their businesses

10. Unlocking the success of entrepreneurs and their businesses
Geographic
Country
Region
City
Unlocking the success of entrepreneurs and their businesses

11. Unlocking the success of entrepreneurs and their businesses
Demographic
Age
Sex/Gender
Marital Status
Family
Education
Annual/Household Income
Occupation
Religion
Ethnicity
Social Class
Unlocking the success of entrepreneurs and their businesses

12. Unlocking the success of entrepreneurs and their businesses
Social Class
Unlocking the success of entrepreneurs and their businesses

13. Unlocking the success of entrepreneurs and their businesses
Psychographic
Values
Personality
Lifestyle
Attitudes
Opinions
Interests
Unlocking the success of entrepreneurs and their businesses

14. Unlocking the success of entrepreneurs and their businesses
Behavioural
Brand loyalty
Readiness to buy
Benefits Sought
Usage Rates
Unlocking the success of entrepreneurs and their businesses

15. Unlocking the success of entrepreneurs and their businesses
Segmentation
Source:
Unlocking the success of entrepreneurs and their businesses

16. Single VS Multi Segment
What Are The Pro’s & Cons of Each?
Unlocking the success of entrepreneurs and their businesses

17. Single Segment (Concentrated)
Pros
Cons
Specialization in one product/service
Increased risk of working in only one segment
Limits the resources
Dangers of shift in consumer interest
Focused efforts
May limit expansion
Unlocking the success of entrepreneurs and their businesses

18. Multi Segment Pros Cons
Shift production capacities between products/service
Greater investment & resources
Flexible pricing policy
Increased marketing costs
Extend the market coverage
Requires greater effort
Focused efforts
Reduced risk
Unlocking the success of entrepreneurs and their businesses

19. Unlocking the success of entrepreneurs and their businesses
Multi Segment Example
Luxury
Upper Midscale
Upscale
Unlocking the success of entrepreneurs and their businesses

20. Unlocking the success of entrepreneurs and their businesses
Single Segment Vs Niche
Small Business owners
Based in the West Midlands
Single
Social Enterprises
Based in Birmingham
Niche
Use example of Accountants
Unlocking the success of entrepreneurs and their businesses

21. Unlocking the success of entrepreneurs and their businesses
Sarah
Personas
Age – 35
Sex – Female
Location - West Midlands
Part time Employment
Education – College
Income Range - £20k pa
Basic Information
Fears: Starting a business that doesn’t
Pains:
Frustrations – Lack of flexible support programmes that can work around her schedule
Fears, Pains, Frustrations
Dreams of changing the lives of disadvantaged people through a social enterprise business
Wants to see more people take an interest in helping people
Hopes & Desires
Bubbly personality but lacks confidence
Enjoys networking with likeminded individuals
Believes in sacrificing self for the benefit of others & social change
Struggles to focus on one thing at a time
Personality, Activities, Interests, Lifestyle, Values
Value for money
Includes key areas of knowledge that she requires
Understand the discomfort with making a profit
Being held accountable
Credibility of
Buying Motivations
Whether the programme will help achieve her social goals
Whether the expense will be worth the return
Buying Concerns
Social Media
Social Enterprise events
Social enterprise websites
Search engines
Social entrepreneur colleagues
Information Sources
Use example of Accountants
Unlocking the success of entrepreneurs and their businesses

22. Unlocking the success of entrepreneurs and their businesses
Research
Surveys/Questionnaires
Focus Groups
Interviews
Online Forums
Statistics
Trials/Testimonals
Use example of Accountants
Unlocking the success of entrepreneurs and their businesses

23. Unlocking the success of entrepreneurs and their businesses
Personas
Demographic
Behavioral
Psychographic
Geographic
Use example of Accountants
Design Your Own
Unlocking the success of entrepreneurs and their businesses

24. Unlocking the success of entrepreneurs and their businesses
Personas
Use example of Accountants
Present
Unlocking the success of entrepreneurs and their businesses

25. Unlocking the success of entrepreneurs and their businesses
Questions
Use example of Accountants
Unlocking the success of entrepreneurs and their businesses