How Buyer Personas Can Boost Your Sales
New technologies like targeted ads have made marketing strategies increasingly customer-centric. Brands now have the ability to focus on key segments of their audience in a way that is highly personalised. Today’s customers expect to connect with the brands they love, and those brands stand to gain loyal followers by offering that human touch. Buyer personas allow a company to tailor its marketing specifically for each key market segment, thereby maximising the results. If you don’t know exactly who your buyers are, you won’t know how to sell to them. While some companies skip this step, they risk wasting their advertising budget on an unfocused, impersonal campaign.
Is your target market female, aged 22-35, making over $50,000 per year, university educated, located on the west coast, and interested in hand-made jewellery? That audience will respond to a different campaign than your other lucrative market in Brazil. Even with a small marketing budget, you could maximise your return by deploying highly targeted social media ads, landing pages, and other communications tailored for each persona. The idea is not to guess as to what might appeal to an audience, but to know from the beginning. According to business consultant Mark Schaefer, 3 to 4 buyer personas often account for over 90% of a company’s sales.
There are many ways to define a buyer persona, but one of the most straightforward is a customer survey. Ask your existing customers about themselves and see what commonalities they share. Analytics can also be helpful in determining the location of your customers, the search terms used to find you, and more. Your best bet, however, is A/B testing. With enough experimentation, you can quickly narrow down the perfect recipe for appealing to your audience. After you’ve gathered the demographic information, you can further determine their challenges and goals.
Once your buyer personas have been developed, it is important to update them occasionally to ensure that they remain relevant. Make a point of collecting customer feedback to see if your approach requires some tweaking. The further you develop and refine your buyer personas, the more they can benefit your business. After all, not only can they increase profits in the present, they can help guide your product development for increased sales in the future.