Accelerate your business with these expert tips on "Buyer persona". Analyse and discover this TIP!

This is the customer segment on which you should concentrate all your efforts to build your business. In the previous phase you have discovered a lot of possible customer segments, you have a very long list and that is good, but you cannot start with all of them at once, you have to select only one segment. You will have time to diversify in the future when you have conquered your first customer segment.

How do you select the right customer segment to start your business?

In order to select the most suitable customer segment to start a business, the following steps can be taken:

1. Identify all potential market segments: research should be carried out to identify the different market segments that might be interested in the products or services offered.
2. Analyse the competition: competition should be analysed to find out which market segments they are serving and how they are serving them.
3. Assess the capacity of the company: the company's ability to serve different market segments should be assessed, taking into account experience, resources and skills.
4. Identify the market segment where it is most profitable: assess the profitability of each potential market segment and select the one that offers the highest profitability, or better, the one with which you can grow the fastest.
5. Conduct pilot tests: you can pilot test different market segments to assess which is the most suitable. Try to sell to 10 customers in each segment and compare in which segment you have obtained the best results.

By following these steps, it is possible to select the customer segment that is most suitable for starting a business and thus maximise the chances of success.

What is a buyer persona?

A buyer persona is a detailed, fictional representation of an ideal customer based on demographic, psychographic and behavioural data. The goal of creating a buyer persona is to help companies better understand their target audience and tailor their marketing and sales strategy to meet customer needs. By having a clear understanding of their buyer persona's interests, needs, behaviours and motivations, companies can create more effective messages, make better marketing and sales decisions, and improve their ability to attract and retain customers.

To create a buyer persona, market research should be conducted and data collected from different sources, such as surveys, interviews with existing customers, analysis of sales data and social media, among others. The data collected should be used to develop a detailed profile of the ideal customer, including information on age, gender, geographic location, income level, interests, purchasing behaviour and other relevant factors.

Once a buyer persona has been created, it is important to use it at all stages of the marketing and sales process, from content creation to advertising and ad targeting. By having a clear understanding of the needs and wants of their target audience, businesses can create more effective and personalised messages, improve their return on advertising investment and increase their conversion rate from leads to customers.

Advantages of having your buyer persona well identified:

According to published studies, having an identified buyer persona brings benefits such as a 900% increase in website visit duration, a 171% increase in marketing revenue generated, a 111% increase in email open rate and a 100% increase in the number of page views. Customers are 48% more likely to hire companies that personalise their marketing. In this sense, it is no longer just a matter of finding the target audience, but to go a step further and to define the buyer persona.which is nothing more than a representation of a fictitious character, but which symbolises very real people: the customers.

Tips for an entrepreneur to identify their buyer persona

It is a detailed outline of exactly who is researching, buying and sharing the product/service in question. In addition, it helps us to get to know the buyers in depth and also to have a closer approach to the real problems they may suffer from, and therefore will help us to achieve better results. Here are some tips for entrepreneurs to identify their buyer persona:

1. Research your audience: To get to know your buyer persona you must conduct in-depth research on potential customers who are interested in your product or service. You must know their needs, desires, problems and objectives.
2. Segment your market: In order to reach your buyer persona you must segment your market, so that you can offer the right content to each group. You can use various tools to segment your market such as Google Analytics, social networks, surveys, among others.
3. Conducts surveys and interviews: Surveys and interviews are excellent tools to get to know your buyer persona. You can use platforms such as Google Forms, Typeform or SurveyMonkey to conduct online surveys and obtain relevant information.
4. Create a profile of your buyer persona: Use all the information you have gathered to create a detailed profile of your buyer persona. Include information about their demographics, interests, behaviours, needs and goals.
5. Use the information obtained: use the information obtained to personalise your content and tailor it to the needs of your buyer persona. This way, you can create a closer connection with your potential customers and increase the likelihood of converting them into real customers.

Remember that correctly identifying your buyer persona is critical to the success of your business.

What techniques are there to identify buyer personas?

THERE ARE SEVERAL TECHNIQUES THAT CAN BE USED TO IDENTIFY A COMPANY'S BUYER PERSONA:

1. Conduct surveys and interviews with current customers to find out their characteristics, needs, consumption habits and opinions about the product or service.
2. Analyse demographic, geographic and psychographic data of current and potential customers, such as age, gender, geographic location, income, interests, among others.
3. Use data analytics and Big Data tools to understand customer behaviour on the web, social media and other digital platforms.
4. Study the competition and its customers to understand their strengths and weaknesses and compare them with your own company's strengths and weaknesses.
5. Conduct field observations to understand the behaviours and needs of customers in their natural environment, such as in shops, events or meeting places.

It is important to use various techniques and tools to obtain a complete and accurate picture of the buyer persona and to avoid making decisions based on assumptions or prejudices.

EXAMPLES OF BUYER PERSONAS IN WELL-KNOWN COMPANIES

SOME EXAMPLES OF BUYER PERSONAS OF WELL-KNOWN COMPANIES:

1. Apple: focuses its products on creative and open-minded people who value aesthetics and quality.
2. Nike: aims its products at active and sporty people who value comfort, style and quality.
3. Coca-Cola: focuses on young people who want to enjoy life and who value happiness and sharing moments with friends.
4. Amazon: focuses on people who value convenience and ease of use, and who want to have a wide selection of products at their fingertips.
5. Airbnb: focuses on people who value experience and authenticity, and who want to live like a local in their travel destination.

Each of these companies has created a detailed picture of their buyer persona, which allows them to develop products and marketing campaigns that resonate with their target audience.Of course! Here is a case study of how an entrepreneur could identify their buyer persona:

CASE STUDY OF AN ENTREPRENEUR IDENTIFYING A BUYER PERSONA

Luis is an entrepreneur who wants to launch an online shop selling vegan and organic products. To identify his buyer persona, Luis decides to take the following steps:

1. Research your niche market: Luis researches online and discovers that there is a growing interest in vegan and organic products in his geographical area. He also researches the competition and finds that there are several online shops selling similar products.
2. Define your product offer: Luis decides that his online shop will mainly offer high quality vegan and organic products. He also decides to offer a fast delivery service and personalised customer service.
3. Identify your buyer persona: Luis wants to target a young audience committed to the environment and animal rights. To do so, he decides that his buyer persona will be a woman between 25 and 35 years old, who lives in the city, works full time and has a healthy and active lifestyle. This person is interested in vegan and organic food and is willing to pay a little more for high quality products.
4. Refine your buyer persona: Luis realises that his buyer persona needs to be more specific. He decides to conduct surveys through social media to learn more about his target audience. He asks about their consumption habits, food preferences, income, and more. With this information, Luis can refine his buyer persona and tailor his marketing strategy and products to the needs of his audience.
5. Create content tailored to your buyer persona: Luis starts creating content for his online shop that is tailored to his buyer persona, including vegan and organic recipes, tips on healthy and sustainable eating, and news about products and events related to veganism and the environment.

With these steps, Luis has been able to identify his buyer persona and adapt his marketing strategy and products to meet their needs and desires. This will allow him to have a more focused and effective strategy to reach his target audience and grow his business.

Keys to identify your Buyer persona

But how do we get there? What steps do we have to follow in order to draw the ideal buyer? 

Drawing your buyer persona increases the duration of their visit on your website by 900%.

The first thing to bear in mind is that the creation of the buyer persona is completed in the strategic phase. This ensures that all the content, design, follow-up of sales opportunities and, in short, any activity of the marketing plan to be carried out is already designed for an ideal customer.

HOW TO DRAW YOURS?

• Customer survey. One of the first keys to take into account is to carry out a survey among the company's current customers. This will help us to establish tastes, preferences or even possible problems to be solved, what stops them from buying, what motivates them when purchasing a product or service, or, for example, what are their consumption habits, among others, contribute to the creation of our buyer. Or, for example, what are their consumption habits, among others, contribute to the creation of our buyer persona". 
• In-depth interview of 5 profiles. Once the survey has been carried out with the general preferences of the clients, it is necessary to analyse 5 specific profiles in a more exhaustive way in order to have a qualitative approach. In this way, a more "face-to-face" view of the more specific problems can be obtained. 
• Synergies with sales. The goal is to learn from sales. At the end of the day, salespeople are the ones who interact the most with users, so the information they can provide about customer behaviour is invaluable. All members of the organisation must truly understand the most common - and day-to-day - issues experienced by the people to whom they want to offer products/services.
• Review of company chat and last forms received. A thorough history of customer service channels is an essential step in creating a buyer persona. The company's customer service chat, the last forms received and even the suggestions and complaints box provide key information to take into account. Through the analysis of this type of interaction elements, it will be possible to discern the defining characteristics of customers, their complaints, tastes and preferences, among others. 
• LinkedIn survey. Finally, launching a survey on LinkedIn will also make it easier to cover this target audience and thus be able to create a more defined buyer persona profile. Once all the information extracted from these 5 steps has been compiled, a document should be drawn up containing the most relevant data about the customer, such as demographic data, fears, objectives and the main challenges they are facing.