Every time I hear the adage, “customer is king,” I subconsciously roll my eyes! However, regardless of how overused the saying it, it doesn’t take away from the fact that it is true. The success of any business depends on its customers.
Hence, spending time developing a detailed buyer’s persona is a must. According to ITSMA, 90 percent of businesses that build customer personas better understand their target audience.
When a company targets the right demographic with its marketing strategy, its items become more visible in the market, resulting in more traffic and a higher conversion rate. A buyers persona benefits you by assisting you in better understanding your target market and developing the ideal marketing plan for your brand and products.
Back to Basics: Defining Buyers Persona
Before we dive into the importance of buyer personas, let us first begin with answering the basic query i.e., what is buyers persona or why buyers persona is essential?
A buyer persona is a representation of the ideal customer of a brand. This semi-fictional representation is derived based on market research and available data about existing customers.
If you want to know your ideal customers, all you have to do is dig into your existing customer data and observe the pattern that emerges. it includes gathering details about your customers’ likes, dislikes, behavior, aspirations, etc. It will allow you to identify what type of value proposition will best attract them.
Understanding the “Why”
Unless you are already well-versed on the significance of buyer’s persona, you are likely to wonder why it is essential. After all, there is no such thing as an ideal buyer. And no real customer will tick all the boxes of your buyer persona! Why must you then create the representation?
Well, here is why researching and developing a persona is essential.
To make informed marketing and sales decisions
Marketing and sales strategies need to be based on customer behavior. For example, if your target audience is affluent and looks for classy and high-quality products, offering them free and discounted merchandise might not work. Here, you are much more likely to succeed by marketing exclusivity and scarcity.
Hermes Birkin Bags, for example, are in such high demand among customers that they even have a waiting list for their products, despite their expensive pricing.Yet, consumers pay a lot of money to get their hands on their bags. Why? This is because it successfully taps into their desire to want something that no one else has.
On the other hand, offering discounts will work perfectly if your target audience is looking for value for money. Here, promo codes and personalized deals help in attracting customers.
To ensure that you correctly understand the complex needs of your target audience and thereby make informed marketing strategies, you need to create a buyer persona.
To provide better customer service
To emerge as a loved brand among the sea of other available options, you need to set a target customer service standard and abide by it. According to Nextiva, 54 percent of consumers now have higher expectations regarding customer service than they did a year ago.
Here too, a buyers persona comes in handy.
Imagine running an online fashion store, and most of your customers are active social media users. Naturally, they expect the brand they transact with to be active and available on the platform.
To stay in close contact with your consumers, your customer service would also need to be active on social networking websites and your business website via some live chat software.
On the other hand, if your business caters to B2B clients, the Best Business Ideas would be to provide effective offline customer service via phone, email, and in some cases, face-to-face meetings.
Customer service is a must for every business, but the medium you choose to communicate with your target audience is equally important. Making the correct choice requires you to have detailed knowledge about your target audience.
To develop spot-on UI and UX
If your business is online, you will agree that having an excellent User Interface (UI) and User Experience (UX) directly impacts profitability. According to Small Biz Genius, 44 percent of shoppers tend to relay their poor online experience in their social circle.
So, you don’t just lose one customer but a stream of potential buyers owing to poor UI and UX!
How do we create an impactful UI and UX? By researching your target audience persona. It will tell you exactly who your audience is and what they like and dislike.
For instance, while an apparel store targeted at young women may benefit from using vibrant and feminine colors, a leather jacket apparel targeted towards “edgy teens” will not attract the crowd if it uses a similar color palette on its website.
Therefore, you must research your target audience to identify their likes and dislikes. Understand what constitutes a smooth online experience for them.
Based on this research, it will be easy to design the theme and structure of your website to resound well with your target audience, bringing in more customers to your business.
To create value
To ensure brand recognition and resonance, you need to create content for your target audience. Providing value in today’s time is immensely important. More so than delivering products.
This is because there are various players in the niche with similar product offerings. Your positioning and how you use your content to relay your brand mission help the audience relate to your brand deeper.
For this purpose, you must know what issues and values your target audience is passionate about.
It all comes down to this at the end of the day, and it holds true whether your business is online or offline. To make your business profitable and maintain a loyal customer base, make sure you understand your buyers’ persona well.
Let’s take Rip Curl as an example. The company often touts itself as the “ultimate surfing business.” To prove so, it ensures that the content it writes also relays this fact. This helps the brand in seeming authentic to its target audience.
It does so by developing a blog called “The Search.” Here, the brand produces content about the best waves for surfers, the surfing lifestyle, and stories from its users. By delivering content that relates and helps its customer base, the brand has managed to get over 2 million followers on its Facebook page.
To know how to communicate
The internet is a world of its own. With the rise of social media platforms, it is tricky for brands to understand what platforms to prioritize and what communication tone to use.
Here too, a buyer persona comes to the rescue. Since it tells you exactly where to find your audience digitally, you can harness this information to revamp your communication plan and reach new potential customers.
For starters, let’s say your target audience mainly uses TikTok. The tone you adopt here will be starkly different from what you would have assumed had your buyers be present on LinkedIn. Yet, you might find that some of the target audience uses the former while others use the latter.
Knowing exactly who is present can categorize your audience into similar groups and create a marketing strategy for each of them.
The Next Step: Creating Buyer Personas
Now that you know how important buyer personas can be, I am sure you would like to create one. There are various marketing personas examples out there to take inspiration from.
But, let me tell you, it is not about how fancy the template you use is. In the end, it boils down to just how comprehensive and detailed your research is.
Begin by using available data like customer history and social media analytics to identify your target audience’s age group and location. This will give you a rough idea of the demographics of your target audience. You can then delve deeper by conducting surveys and creating focus groups within demographics to learn about your target audience’s goals, needs, and challenges.
Remember, you might have to conduct this exercise multiple times. It is pretty hard to find a buyer persona that covers the needs of every customer you will get. It is best to divide your overall customer base as per their intent of purchase or demographics.
Begin your research today
All in all, creating a buyers persona will only benefit you. There is no downside to the exercise.
However, this research will help you create campaigns and strategies that best convert customers; I would say it is a price worth paying!
Begin researching your target audience today and create a detailed persona. Do let me know if it helps you!