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Developing a Buyer Persona and Its Role in Market Strategy Development
A buyer persona can be defined as an image of a companys ideal customer. An adequate and well-researched buyer persona is essential for target market identification. Besides, helping the customers evaluate the companys services or goods on their own terms helps build a strong bond of trust with them (Buyer Persona Institute, 2010). The purpose of this paper is to discuss the ways of creating a persona of the ideal customer, as well as its role in market strategy development.
The Role of Research in Developing a Buyer Persona
According to the American Marketing Association (AMA), research in marketing aims to identify problems and opportunities by using information gained from customers (AMA, 2017). The two main types of research are quantitative and qualitative. Quantitative methods are used for gaining numerical data, while qualitative research aims to obtain insights and personal opinions. It is recommended to utilize both types of investigation to get a broad overview of the target market (Pena, 2013). Developing a buyer persona is a significant part of a successful marketing strategy. Research methods such as surveys, interviews, and online data analysis help gather information necessary for constructing the ideal customer image.
Information Needed for Constructing a Buyer Persona
Todays marketing can be characterized as data-driven. It means that companies regularly analyze information concerning their clients. Special tools and software help mining data from social media in order to determine what customers think about products (Taggert, 2016). More recently, mobile advertising became a very powerful tool in market research. Various applications provide companies with insights about their target customers, including their preferred shopping locations and their attitude towards certain products (Grewal, Bart, Span, & Zubcsek, 2016). All this helps to construct an image of a buyer persona.
For an adequate portrait of a potential customer, a company needs to consider personal, professional, and negative information about buyers. Personal information includes age, gender, marital status, income, and preferences. Professional data covers a persons job, their values, and priorities. Negative information is focused on the characteristics of an unwanted customer or the segment of the population that does not fit the companys goals. In some cases, it may be possible to create several buyer personas to appeal to a broader demographic.
Using the Buyer Persona for Market Strategy Development
A buyer persona can function as a guideline in developing a market strategy. A clear representation of a potential customer enables the company to create a personal connection with its clients. The image of an ideal buyer is often used in advertisements to associate the brand with a relatable character. It also allows organizations to get an empathetic understanding of their customers (Salminen, Jansen, An, Kwak, & Jung, 50). Besides, analyzing the data related to the buyer persona can help keep up with the changing trends, monitor the publics response to the products, and, consequently, boost sales.
Conclusion
The image of a hypothetical perfect client is a powerful marketing tool. It is especially useful in advertising and as a way to get customer feedback and increase sales. To construct this image, companies use a variety of qualitative and quantitative research methods. Adopting this concept can be beneficial not only for the business but also for its clients. When the buyers relate to the brands image and know that their feedback is appreciated, they create a strong bond with the company that can last for many years.
References
American Marketing Association. (2017). Definitions of marketing. Web.
Buyer Persona Institute. (2010). What is a buyer persona? Web.
Grewal, D., Bart, Y., Spann, M., & Zubcsek, P. P. (2016). Mobile advertising: A framework and research agenda. Journal of interactive marketing, 34, 314.
Salminen, J., Jansen, B. J., An, J., Kwak, H., & Jung, S. (2018). Are personas done? Evaluating the usefulness of personas in the age of online analytics. Persona studies, 4(2), 4765.
Pena, A. (2013). The importance of market research in developing a successful marketing strategy for your brand [Blog post]. Web.
Taggert, K. (2016). What exactly is big data and why should you care [Video file]. Web.
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