In our previous blog, we talked about the difference between target market and target audience and their relevance with regard to the success of your business. You may have also come across the terms persona or buyer persona and wondered how this is related to the two.
A buyer persona is a fictional person or character that represents an ideal customer based on real company data and extensive market research. Personas are more detailed and are meant to focus on one type of specific customer versus the broader customer groups defined in your target market or target audience.
Buyer personas help you better understand your current customer's needs, motivations, and future actions. In addition, personas can help companies develop sales strategies and marketing campaigns that convert potential customers into actual buyers, while also strengthening relationships with current customers.
Typically, companies create 3 to 5 buyer personas that help depict some of their top customers. The more detailed your buyer persona, the better. However, having too many personas may mean you are being too specific in defining a customer. Look for any similar characteristics that will allow you to combine these customers into already defined personas.
A buyer persona can include:
Demographic information such as age, gender, education, income, marital/family status and location
Psychographic information such as values, goals, motivation and opinions
Additional background information such as hobbies or other interests
Influences or interests including websites, social platforms and other references the customer trusts
Challenges or obstacles including struggles, fears and current problems
Purchasing information such as decision-making role, purchasing potential, frequency and purchase deterrents
Objections or barriers include a list of potential barriers that hinder their decision-making process to invest in your product.
Fully understanding your company’s buyer personas can help your business in a variety of ways, including creating marketing messaging, fine-tuning your sales and customer acquisition process, or developing new products or services. In addition, all businesses can benefit from buyer personas. Check out a few reasons why personas are important:
Customer behavior insights The detailed customer profiles built from each persona can help define your company’s marketing and communication efforts. Personas can highlight an array of attributes, actions and preferences that give you insight into how customers act in certain circumstances. Understanding these behaviors allows you to improve the communication and shopping experiences that lead a consumer from brand awareness to purchase.
Identification of customer likes and dislikes Understanding persona motivations, likes and dislikes will allow your brand to address the needs of your customers. Since buyer personas are created using real data, they allow your company to build trust with your customers by showing that your brand listens to them, and cares about their wants while addressing their likes and dislikes.
Targeted content Personas can shed light on the types of information and the best communication methods that align with certain groups. By utilizing this information, your company can create and promote targeted and valuable content to specific customers.
Product development In addition to sharing needs, wants and goals, buyer personas can help identify changes customers wish to see in your products and services. These insights can create potential opportunities for product development teams when making changes to existing products or creating new ones. Additionally, this data can assist with prioritizing tasks that help attain optimal customer satisfaction levels.
Buyer personas are important and helpful to understanding a company’s customers. Setting aside the time to research and gather information from your current customers will help ensure that you are building strong persona profiles.
Download our complimentary persona template below and start defining your brand’s buyer personas today. Need additional assistance? Schedule a consultation with us to talk more about the advantages and uses of buyer personas.
Comments