Buyer Personas Part 1: What is a buyer persona?

Hey, everybody, Sean here at Campaign Creators. I have a special talk in-store for you today. We’re going to talk about buyer personas. We’re not just getting into the basics of buyer persona. We’re actually gonna talk about buyer personas in the context of your funnel and in more particular, your campaign funnel. So let’s start off with some high level stuff right. What is a buyer persona? Well, there’s a couple words up here that I like to emphasize. One, it’s a general representation of your ideal customer. Ideal customer, right? As marketers, we don’t just want to target anybody if you’re selling to people who might not be necessarily your ideal customer and what we want to do is we want to constantly be understanding learning more about that persona. So we can focus our marketing efforts and be more in tune with that persona ,right? So really here we want to focus on not only a customer, but an ideal customer. Now moving along, personas can be tough, but at the same token we want to do everything we can to be aligned with them. We want to know what gets them up in the morning what keeps them up at night. Basically anything that’s crossing their mind that might help or hurt a buying decision We want to be able to effectively understand that and reflect it within our marketing. Now no one the old-school people are probably thinking about target market ,right? What’s the difference between buyer persona and target market? Well, buyer personas are it’s a one-to-one conversation. It’s a little bit more specific than a target market. When you make things more specific, you’re able to then really understand them at a much more tangible level. The things are general, it can be more vague, and it’s a little bit harder just the types understand those concepts. In addition, a lot of times we’ll think about the difference between sociodemographics versus demographic information versus psychographics. If you see a general persona, typically what it will entail is just having the demographics. But what we want to think about when we think about personas is both socio-economics and psychographics as well. It’s a little more sophisticated way of thinking about these people. Now I marked a couple things here in orange as we go through this talk. These are kind of the gems or the nuggets. Right here, we’re looking at a little bit different way of thinking about buyer personas. One of the most important things that I like to communicate to clients when they think about buyer personas is what is the lifetime value of a particular customer. And we have an equation here, it’s a little bit complex initially when you look at it, but once we break it down, it’ll start to make a little bit more sense. First what is the average value of a sale ?You take that number and then you multiply it by the number of repeat transactions. Once you multiply those two numbers together, then finally you look at the the average retention time. How many years or how many months is within a typical number of transactions that a persona will actually engage with you for. So you take those three numbers, you look at them And that’s gonna be the lifetime value of a customer. Which is a much better number to look at, than just the average transaction of that particular persona. As we’ll get into a little bit later which is another gem we’ll talk about evangelist. Evangelist can be great Because they start to spread the word they might have a much higher lifetime value than somebody who just buys a product one-and-done And that’s it. So I hope you’ve enjoyed today’s talk. I appreciate you guys tune in. See you next time.

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