Define the dream buyer – the first step in every marketing campaign (and why most people fail to do it right)
An ideal customer avatar, buyer persona, or a dream buyer – call it as you wish -, is really the profile of your ideal client. All of your marketing campaigns need to have this dream buyer as a focus. Basically, your “dream buyer” is the kind of person you want to convert into your recurring customer because they will bring the most profit to your business.
Are there people that you don’t necessarily want to become your customers? This may come as a surprise, but there are. It takes a little math to realize that when it comes to your customers, since it’s not all about income but about profitability as well.
You probably are familiar with the Pareto principle or the 80-20 rule, meaning that 20% of your customers bring you 80% of your profit. This 20% is where you will find your ideal customer. Again, we are talking about an ideal scenario, not special situations, nor a volume of sales with low profit per unit. Because, ideally, you want to get customers that bring you profit, you don’t just want money coming in and out of your company.
Why is it crucial to define the buyer persona?
Well, if you don’t know exactly who your customer is, you’re wasting resources – time, money, or staff energy. It’s like you’re waiting for an airplane at the train station.
Coming back to the title of this article, the first step in every marketing campaign (online marketing or offline marketing) should define precisely this customer profile or buyer persona which you have to understand very intimately. It’s not enough to look at demographics. You have to look deeper than that. You have to write down all the psychographic traits that you can collect. For example, Facebook is a great source where you can find information through Audience Insights. The same goes with Google Analytics (which you need to have on your website). There are plenty of resources from which you can get valuable insights: your existing customers, dedicated groups, forums, and so on.
What’s the difference between demographic and psychographic data?
Demographic data includes details like age, gender, location, and it splits your audiences into hard numbers. Psychographic data offers information about intent, dreams, and desires; it gives an insight into the motivation that drives people to do certain actions. These are a result of the lifestyle, interests, attitudes, and values of your customers.
For example, if you Google “how to create a website” this search will show you a list of companies that can build a website for you. But your intention might be different, as you might be looking for online courses and tutorials that can teach you how to create your own website, what kind of skills you need to develop. So, your search intent is learning, not buying (in which case you need to be more specific in your search).
Comparing demographic data and psychographic data is similar to comparing closed-end questions (“How many pairs of shoes did you buy?”) versus open-end questions (“Why did you buy the red shoes and not the blue shoes?”). The second question reveals the buying intent.
You have gathered the data. Now what?
Once you have gathered all the information, you must add context. The end goal was not to put together a list of information or dull numbers, but to put them to good use. The data will give you a detailed overview of your ideal customer, so you will know:
– Who am I talking to?
– What are their problems?
– What are their hopes, dreams, and desires?
– Which is their biggest fear?
– What do they consider to be an opportunity?
And so on.
You will know where your dream buyer gets their information, what does a day in their life look like, and where they socialize. And just saying “Facebook” or “Linkedin” or “Clubhouse” is not enough. But if you say that they are active in a group called “Moms that love essential oils”, you are getting closer to the truth.
When your dream buyer profile is ready, you will also know where to place them in your sales funnel, which connects to customer’s journey:
– they’re just becoming aware of your product/service (awareness)
– they are familiar with you and are considering buying (consideration)
– they already purchased something from you (conversion)
– they bought something and they are recommending it to their friends (advocacy)
Placing your dream buyer in the correct moment of their customer journey is also crucial because you need to craft different messages based on the previous interaction (or lack of interaction) with your brand. Did this person hear about your product or service before? If they did, are they satisfied or not with it? Based on this information you will be able to communicate an efficient message to them. But that is another step to take.
How specific does a Dream Buyer Profile need to be?
VERY! Just imagine this buyer persona as being a real person. Describe it like you would describe a close friend or a neighbor. It even helps to find a picture of someone who looks like your desired customer. Give it a name. Write down all the elements that define it:
– Name, age, education, relationship status, occupation, job, income, location, and interests
– Where does it socialize and where does it spend most of its time?
– Where does it get its information?
– What are its biggest problems?
– What are its most burning desires that don’t let it sleep at night?
– What are its deepest fears?
– What is the preferred form of communication?
– What phrases and exact language it uses?
– What does a day in your dream buyer’s life look like from morning to night?
– What makes it happy?
The end result is a much deeper understanding of how you can reach your dream buyers and talk to them. This process makes everything more efficient, and efficiency translates into profit.
Do I need a buyer persona just to run marketing campaigns?
The answer is no. Every correct branding process starts here. And branding doesn’t just mean having a shiny logo. It means having a collection of elements that define together the customer’s perception of your product or business overall.
Do you need help in creating your dream buyer profile?
Get in touch and we can give you a hand.