What are buyer personas and when should we use them?
In this modern world where consumers and our target audiences are inundated with choice, from products and services, to the channels in which they communicate, it can be extremely difficult for businesses to ensure that their marketing not only gets to their correct target audience but that when it lands, it resonate with them. Research from eMarketing shows that global digital ad spending is set to increase in the coming years ensuring increased competition for marketers. More than ever businesses and their marketing teams will have to be targeted and specific in their approach to ensure that they not only ensure that their marketing resonates and feels personal to their target audiences but also that they receive the highest return on their investment .
This is where Buyer Persona’s will come into their own. Their sole purpose is to ensure that businesses and their marketing campaigns have drive and purpose behind their strategic and tactical activities.
The term buyer persona gets thrown around the marketing world as though it were Major League Baseball, but what does it mean and why is it important to your marketing and business success?
What is a buyer persona? So, what exactly is a buyer persona? Well, a buyer persona is an in-depth description of someone that matches your target audience. Buyer personas are usually semi-fictional depictions which embody the characteristics of your ideal customer. Many aspects of your potential buyer will be thought out, such as their interests, behaviour, demographic, spending habits, often they will even be given a name such as Finance Phil or Marketing Mary . The point of doing so will be to help marketers properly visualise their targeted audience, in the process building a strategy that is personalised to them and streamlining marketing campaigns ensuring that all activities and tactics are built for a purpose helping them not go get lost in the noise of the market.
Statistically, putting in place buyer persona’s has been found to be extremely beneficial, Hubspot research has found that using buyer personas in your marketing made websites 2-5 times more effective and easier to use by target audiences. Moreover, personalised e-mail campaigns help improve click through by 14% and improve conversion by a staggering 10%.
Showing empathy in today’s business world can go a long way for your organisation, demonstrating that you truly care about the wants and needs of your audiences. Too often customers and prospects are treated like a commodity , receiving little empathy from companies. Using personas allows businesses to add that personal touch to their marketing and can be beneficial long-term in terms of building loyalty and overall increased return on investment.
Buyer personas are not just for big businesses Many small business owners may question the time and cost of implementing buyer personas, often feeling that they have a strong general awareness of their customers and prospects due to their relatively small customer base in comparison to larger organisations. However, this is not always the case, often what we think we know and what our clients tell us isn’t always based on actual behaviours but on what they want their behaviours to be. Every business no matter the size would benefit from a better understanding of their target audience.
Improve return on investment with buyer personas If you are seeking a greater return on investment in your business, then introducing buyer personas will help achieve your goals. By helping to make your business make better, more informed, decisions about who they market their products to will ensure that there is less time spent on the wrong customers. Your marketing will in turn be more specific to your target audience, increasing productivity and in the process leading to a greater R.O.I.