In this example, the company is a coffee shop in a trendy part of town. This coffee shop was designed by a local architect, who is a friend of the owner. It is a very unique space, with a strong local flavor. They offer a wide variety of sustainably grown coffees from around the world. They also hold weekly evening events, where neighborhood artists have a chance to share their work and tell their stories. Their challenge is they are a bit off the beaten track, so foot-traffic is limited.
B2B markets are typically segmented by size either by revenue or by number of employees. In this case, it’s a bit different, as it is the number of transactions that drive cost. In this case, it might be better to segment by industry, because some industries, like retail, will have a more transactions than others. It is important to segment the market by the right metric.
We can segment this in several ways.. Each group could have a reason to visit.
We would argue that art enthusiasts, as defined, would be the best target. Since traffic is needed at night, locals will likely visit without reminders. Plus, art enthusiasts will see some- thing new and potentially worth making the trip... or even art worth purchasing.
I love art. I love how it tells a unique story that I like to share with my friends. My friends see everything, so it’s hard to find something new. I don’t mind traveling if it for something really unique to see and experience.
Insights in the real world aren’t this ready-made. You often need to do some rapid-fire testing to see whether or not they are real. For the purposes of example, we will assume it has been validated, but this is a CRUCIAL step. You should never assume. You should always test.
For art enthusiasts, who love to see new work and to share that experience with their friends, Company Example is the only coffee house that showcases local up-and-coming artists weekly, with a unique perspective to share. That’s because we love art too. Our coffee house was designed by (local architect), who fell in love with our concept. The space is designed to provide each artist with a studio-like environ- ment to share his or her work.
For this example, the persona could be male or female, with a relatively high-disposable income, who is looking for a new experience to share with the friends. This person is also like- ly highly-educated, social, and is part of the artistic set. One would expect them to have a desire to see new work and learn about new, up-and-coming artists.
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