It happens all the time. I ask a Realtor what target market he wants to focus on and he says, “oh, I can sell houses in all of Orange and Los Angeles Counties.” I ask a luxury women’s clothing line who they want to focus on and the answer sounds something like, “all women, along with husbands and boyfriends who might be shopping for a gift.” I can’t fault them for their answers because they’re technically correct. A licensed Realtor really can sell a house anywhere in Southern California and a women’s luxury clothing brand can absolutely sell to all women (and men buying gifts).
Sometimes you can have a correct answer that is not the best answer, and that is where creating buyer personas comes into play. Buyer personas help a business refine a correct answer into the best answer. Every business needs to have a grasp of who their ideal customer is. Essentially, a buyer persona helps you maximize the efficiency of your ad spend by funneling it towards customers with the lowest Customer Acquisition Cost, or CAC (also referred to as CPA or Cost per Acquisition).
The quick answer to, “What is a buyer persona?” is that it’s a detailed description of your best customer. A good starting point in streamlining your marketing campaign and creating your buyer personas is to answer the following questions:
- “Who is my most profitable customer?”
- “Which of my customers is easiest to convert or sell?”
- “Which of my customers is the most pleasant to work with?”
Notice the questions don’t ask who you can sell to or who you want to sell to, as that would lead you towards the trap of finding a “correct” answer. The questions above serve as building blocks to refining your focus on the “best” answer. Once you are able answer those questions, you’re ready to begin creating your buyer personas. I’ve created a free and fun, step-by-step guide explaining how to create buyer personas for your business. This should help move you down the path towards higher ROI’s. We’re always here to help you along the way.
