For start-up businesses in particular, identifying and understanding everything about your target audience is crucial for success, but this can often take time. Research must be carried out to uncover the needs and motivations of your audience and what factors influence their buying behaviour.
From this research you can create buyer personas (or buyer profiles) which will help you make sure your product or service is at the appropriate price and promoted via the right channels, in a way that ensures maximum return on investment.
THINK! Who Are You Talking To?
It is often helpful to create buyer personas for potential customers. Here are some questions to ask yourself:
- Where do they live?
- How old are they?
- What is their gender?
- What are their interests?
- What are their hobbies?
- Where do they like to spend their time?
- Where do they spend their time online?
- What social media platforms do they use? (If at all)
- What mode of transport do they use?
- What is their occupation?
- What income do they have?
- Where do they shop?
- Do they travel?
- How do they dress?
Why Is It Important To Create Buyer Personas?
Buyer personas are crucial to ensure your marketing efforts are focused and not wasted on reaching the wrong audience. Knowing your businesses buyer personas lets you put the wants and needs of your audience at the core of your marketing strategy to ensure they come into contact with your product / service. This, in turn, will help your business to prosper.
If you fully understand your customers, you will have a competitive edge and be more likely to attract loyal customers who repeat purchase.
What Does A Buyer Persona Look Like?
By way of example, a buyer persona for Tiffany & Co. may be someone like ‘Sarah’.
Sarah is 29 years old and lives in London city centre. Sarah is a Project Manager, with an annual income of £73,000 which provides her with a large amount of disposable income. She enjoys spending her spare time socialising and going for meals with friends. Sarah drives an expensive car and shops with premium brands such as Waitrose and House of Fraser. She wears smart, classic clothes and goes on holiday regularly. When online, Sarah mostly uses social media including Facebook and Instagram to promote her luxury lifestyle.
What would your business buyer personas be? Have a go at constructing your own personas and let us know how you get on.
Do You Need Help With Your Small Business or Business Idea?
Join the Enterprise Action project and make use of our free specialist workshops, delivered by experienced business consultants. All of our workshops are available to people looking to set up a business or existing business owners in the Black Country, Shropshire, Telford and Herefordshire.