How to Identify the Target Audience and Create Buyer Personas for Your Business?

Today successful companies have one thing in common: They are strongly customer-focused and heavily committed to marketing. What is marketing? Many people think and believe marketing is selling and advertising of products and services. Indeed, selling and advertising is only the tip of the marketing iceberg. The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow the current customers by delivering satisfaction.

Marketing term has many definitions and the one stands out is: Creating values for customers and building customer relationships in order to attain value from customers in return. Marketing is the satisfying customer needs.

Marketing model is based on the five-step marketing process. In the first four steps, marketers understand customers, create customer value, and build strong customer relationships. In the fifth step, companies get the reward of creating customer value. The reward in turn is sales, profits, and long-term customer equity.

The Five-Step Marketing Process are:

  1. Understand the Marketplace and customer needs and wants

So, the marketing model is unable to reap the reward if it doesn’t have the identified target audience in first four steps.
Defining a target audience might feel constraining but it enables you spend your time and money on potential customers. The identification of target audience saves your money, energy, resources, and time on unprofitable audience. Here’s an example of how identifying the potential audience had made the Best Buy $10 billion more in sales.

Electronics retailer Best Buy had generated a “Customer-Centric” strategy that distinguishes its best customers (they call angels) and less profitable customers (called demons). The aim was engaging more with the angels and ditching the demons.

Best Buy analysed its data and identified the customers who fit in angels and demons group. Even Best Buy identified its angels group into further five segments: “Barrys,” high-income group, suburban moms; “Buzzes,” male technology enthusiasts; “Ray,” young family men on a budget; and small business owners. They aligned they retail stores based on these customer-centric segments. Best Buy then trained store clerks in the art of serving the angels and exorcising the demons. So, all this happened with the right audience identification and targeting.

Audience targeting help in identifying their problems and how do they feel that will enable you communicate and engage with the segment more deeply.

Do the Following to Identify the Target Audience:

  1. Research: Start with competitors analysis and current clients. You can use various online competition research tools like semrush, spyfu, keywordspy etc.
  • Continent
  1. Demographics
  • Administrative Services Manager
  1. Married and Parental Status
  • Married
  1. Age: Identify the age group of your target audience. It’ll help in tailoring offers and promotional messages.
  • 20–30
  1. Use Survey Forms: Use survey forms on your business website and third party platforms like Facebook to gather the information about your target audience. Survey forms and tools:
  1. Sales Team Feedback: This is one of the most important sources of getting potential audience information. Ask your sales team about clients queries, concerns, quotes, time period before conversion , etc.

What is the information you need to gather to build a targeted and successful buyer personas. Below is the list of questions you can ask from your potential customers as per your business need:

  • Role
  1. Your Job Title
  • Company
  1. Size (staff strength, turnover, fortune list, etc)
  • Goals
  1. Who define the goals for you?
  • Challenges
  1. What are biggest threats of this job?
  • Learning:
  1. How do you keep your informative about industry insights, trends, competition etc?
  • Social:
  1. Do you use any social networking site?
  • Education:
  1. Your Highest Education?
  • Shopping Preferences
  1. Do you prefer to interact with agents and how (e.g. email, in person, call)?

Make a template in the spreadsheet and use that for building your customer profiles. You can download the template of “Buyer Personas” from the following link:

Download Free Buyer Persona Template Here

Originally published at roiminds.com on July 24, 2016.

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Direct-Response eCommerce Marketing Agency that helps brands to scale!

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Direct-Response eCommerce Marketing Agency that helps brands to scale!

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