The competitive business field serves as a battleground for companies both large and small. Large companies withstand the heavy competition and survive against all odds. However, this is not the case with small companies since they do not have the potential to withstand the pressure in the competitive market. Every business tries to find a way to outshine the rest and reach the heights of success. Customers play a vital role in the upliftment of the business, which is one the reasons why companies treat every client as a king!
Any business owner should have sound knowledge about the customer, the buying trends and the challenges they face. In fact, it is like preparing a fact sheet for your customer that will help understand them better. The target audience is not the same for every business and hence it is mandatory to know in-depth about them. If you are a novice wanting to achieve your business dreams, then you need to know about buyer persona. Many of us might have heard this term, but only a few actually know what it means.
What is buyer persona?
Buyer personas, otherwise known as “Marketing Personas” are representations of your target audience. It is not about creating a profile for your customers but understanding them to the core. Through this model, companies will be able to analyze the challenges faced by the customers, their attitude, demographic data, and other related details. By collecting the information, the marketing team of a company can create a specific buyer persona to match the requirements of the target audience. Buyer personas can help
Generate potential leads
Create personalized marketing strategies for the target audience
Achieve company goals at ease
Understand your clients, their attitude and serve them in a better way
Improve sales and retain customers
Companies understand client needs and serve them
In general, the buyer persona can be described as a study plan which helps you to understand your clients in-depth. This will help create customized marketing plans to suit every client base. Through this innovative approach, companies can understand the pain and gain of the customers and provide better solutions to address them.
Why buyer personas are important for your business?
Start-up companies need to have a clear picture of what type of products they are providing and how they satisfy the needs of the client. Buyer persona can make or break the game and hence a lot of importance is given to this factor. There are many reasons why buyer persona is important for a business. A few are mentioned below.
Identify client requirements:
Most of the businesses fail to address client requirements and hence they lose potential customers. To put an end to this problem, companies make a detailed study about customers, what we can offer them and what they expect from our business. Understanding these things is very crucial for the upliftment of the business. This will also help companies to create new products and services to match the requirements of the target audience.
Analyze purchase decisions:
Some clients have the habit of purchasing online whereas others visit retail stores and buy products. Identifying their purchase patterns will give a clear idea as to what they are looking for. This key factor will determine your marketing strategy and change your selling techniques to suit the buying patterns of the client.
Identifying the client base and grouping them accordingly is one of the toughest jobs faced by companies these days. With the help of buyer personas, companies can group their clients based on their specific interests. After grouping, the company can develop content that matches the persona of the individual.
After grouping clients according to their personas, companies can prepare content specific to the group. This creates a customized approach to handling customer requirements. Through analysis, the team can get an idea about the needs and challenges faced by the customers and provide content that will appeal to them.
Many companies both small and large follow buyer persona methodology to sustain existing customers and gain new prospects.
How to create buyer persona?
Creating a buyer persona is quite a challenging task that requires a lot of groundwork. The initial step is to collect information about existing customers and getting a clear picture of their requirements. This may look like a time-consuming process, but it is indeed fruitful. There are basically two ways to create a buyer persona namely – interviews and Sales/CRM data.
Interviews – this is the first step in creating a buyer persona and one of the most crucial steps too. An in-depth questionnaire is prepared to get the details of the customers that include background details, professional information, likes and dislikes, negative points, and goals, among others.
Sales and CRM – one of the best methods to create a buyer persona is through sales data. By analyzing the past records, you will be able to get an idea about the type of customer and you can create a rocking buyer persona to match his/her needs.