Businesses are always upgrading their strategies to increase ROI. The buyer persona epitomizes their constant efforts to stay relevant with their customers by creating an idealized customer to guide their marketing efforts.
The shift from generalized, stereotypical advertising to individualized customer engagement is one the most important milestones that changed the way companies and businesses market themselves to world.
Buyer Persona vs. Stereotype
Buyer persona is coined from the word ‘persona’, often associated with psychology and literature. When applied to business, it means an ideal customer with the most desirable traits suitable for marketing.
This ‘model customer’ serves as the basis for the company’s design, production, and marketing efforts from which they can generate income. Different industries can have several buyer personas, each having unique, individual characteristics that mirror their real-life equivalents.
A common misconception about the buyer persona is the old practice of stereotyping customers popular among traditional businesses. They would try to fit every customer into a category based on assumptions and generalizations.
The fundamental difference between a buyer persona and a stereotype is the understanding of the circumstances that revolve around the customer – his work, lifestyle, education, hobbies, expertise, expectations, buying habits, etc.
A stereotype barely scratches the surface and provides an incomplete picture of your target market, while a buyer persona goes deeper by creating a life-like representation of your ideal customers based on facts and research.
The Buyer Persona’s Role in Business
Marketing efforts gravitate on the customer’s ever-changing needs embodied by the buyer persona. Without a proper understanding of the customers, all efforts from production, marketing, and sales are irrelevant.
A well-researched buyer persona protects their investments by guiding them on what products or services – with their many variants and slight nuances – to provide their customers and how they can successfully market them across different channels.
Creating a Buyer Persona
The first step in creating an all-inclusive buyer persona is to collect every available information from customers through research, surveys and interviews .
Sources include demographic information of a particular area, CRM data, emails, social media, and Google Analytics. These data will serve as the building blocks of the ideal customer’s ‘DNA’.
Coming up with an accurate representation of the ideal costumer takes time. In some instances, it is necessary to create two or more personas if data points to more than just one type of customer.
What to Include
Business firms compile different information from various sources and creates a unified picture of their imaginary customer. The following information will help you throughout the process.
• Age bracket
• Educational attainment
• Civil Status
• Income Level
• Buying History
• Buying Motivation
• Buying Preference
• Average Spending
Specific Skills and Interests
Acquiring firsthand information can take time because it involves actual conversation with people and encouraging them to participate in surveys.
Social networking sites like Facebook and Twitter is a treasure trove when it comes to personal information, skills, and interests about your customers. Some companies collect information about their fans and followers as part of their marketing strategy.
If your company doesn’t have a Facebook or Twitter account, consider social media marketing as a way of gathering relevant information about your target market.
You can also learn about their specific interests through your landing pages and opt-in subscriptions to your weekly or monthly newsletters. These data can be acquired more easily using ‘call to action’ (CTA) links or buttons within the page or email.
When it comes to customer records of previous and current customers, nothing comes close to CRM customer data because it allows businesses to stay up-to-date with its constant supply of data from day to day transactions.
Look for the Right CRM Service to Guide You
Small Business Dream offers a suite of tools which include customer acquisition, sales funnel, and sales and marketing automation for small business owners like you.
Learn more on how Small Business Dream can help you with your marketing efforts by visiting our website at www.smallbizdream.com.