Get clarity on your end users, buyers and industry decision makers
Before deciding what to build, how to market it, or how to price it, you need a clear and shared understanding of who the venture is for. We do this by defining Ideal Customer Profiles (ICP).
At Mayfly, we take a structured approach to defining your ICP, grounded in how industries actually operate, separating businesses from people, users from buyers, and symptoms from real pain. This is a key foundational component in defining your UVP, defining your GTM strategy and Product Strategy.
Making sense of the competitive landscape
Before deciding what to build or even how to position it, you need a clear view of how the problem is being solved today, who customers are already turning to, and where those solutions leave gaps. This understanding can move you forward, focusing your effort on where it can create the most impact.
Competition can feel overwhelming, especially in crowded or established industries. The Mayfly approach is designed to cut through that noise - giving you a clear, practical view of where you’re really competing and where opportunity exists. In 3 steps.
It's clarity before competition.
Mayfly’s ICP process
Defining your customer is a foundational step in building a successful AI venture.
Before you even decide what to build, how to position and price it, or how to take it to market, clarity on your customer is essential. Without this alignment, even the strongest idea can struggle to gain traction.
Our approach to ICP is to bring structure and clarity to a complex problem: identifying who truly matters for this venture to succeed.
We ground the process in how industries actually operate - separating organisations from individuals, users from buyers, surface-level symptoms from real underlying pain. This work becomes a strong foundation for your Unique Value Proposition, as well as your Go-To-Market and Product Strategies. Our structured process follows 3 steps.
Because we focus on industry-led AI ventures, ICP definition starts at the industry and business level.
We begin by clearly defining factors such as:
- Industry and sub-sector
- Company size and stage of maturity
- Operating environment (regulated, complex, high-risk, AI readiness)
- Existing systems, tools, and constraints
This ensures the venture is anchored in a real organisational context, rather than a broad or abstract market category.
In most B2B and industry environments, the person who uses the product isn’t necessarily the person who buys it.
We make a clear distinction between:
- End users: the people interacting with the platform day to day
- Decision-makers: those responsible for approval, budget, and risk
This distinction matters. A product that users love but decision-makers don’t trust will struggle to be adopted, and the reverse is just as true.
Once roles are clear, we build a deeper picture of each stakeholder.
Demographics
- Role and seniority
- Responsibilities and accountability
- Experience level and background
- Organisational influence
Psychographics
- Motivations and goals
- Fears, frustrations and pressures
- Attitudes toward technology and change
- Risk tolerance and decision-making style
Key Problems
- Industry wide challenges
- Current workflow bottle necks
- Operation pain points
Buying Nuance
- Sticking points / concerns
- Buying triggers
- Network effects
Together, this helps us understand not just what people do, but how they think, decide, and act.
With roles, motivations, and pain points clearly defined, we merge this understanding into practical customer personas.
These personas capture the essence of the people the product is built for and marketed to. How they think, decide, and behave. This becomes a shared reference point for the team - ensuring product decisions, messaging, and channel selections stay anchored in real people, not assumptions.
The result is true alignment between people, purpose, and product.
Who we are
We're a Venture Studio, here to turn your AI idea into an industry transforming venture
Mayfly combines product insight, GTM strategy, technical execution and network in one integrated team.
We partner with a select group of ventures, shaping them with care and build them with commercial and technical depth.
Our staged process is designed to reduce risk early, validate what matters and give founders clarity and confidence at every step.
The Venture Building Engagement:
$15,000
Ready to get clear on your customer?
If you’re an industry expert exploring an AI venture and want a clearer understanding of who you’re really building for – and how AI could meaningfully improve their day-to-day – we’d love to hear about it.
This first conversation is simply a chance to talk through your idea, your target customers, where their real pain points are, and whether there’s a strong foundation to move forward together. Early ideas are welcome.
