Starting a new business means you are doing research on whom you will sell your product or service to. Textbooks traditionally have focused on developing a target market, which is a set of buyers sharing common needs or characteristics that a company decides to serve.
By defining a target market using demographic, geographic, psychographic and behavioral characteristics, this segmentation helps you to narrow your focus instead of trying to market to “everyone”. Companies are more efficient and effective in satisfying customer demands.
You may see target markets that look like this:
- Gender: Female
- Age: 35-50 years old
- Annual Income: $50,000-90,0000
- Location: Southeast United States
Take your marketing plan to the next level with buyer personas. If you’ve only been using information found in typical target market research, it is time to take your marketing to the next level and develop buyer personas.
A buyer persona is a semi-fictional identity of your ideal customer based on market research and who share similarities with your existing customers. A detailed buyer persona will help you determine where to focus your time, guide product development, and allow for better integration across business functions.
Buyer personas include the demographics you’d see in target market research but it also includes more information crucial to creating great content. These personas allow you to understand and anticipate buying behavior with prospects and customers whom you engage with.
A good beginning is to define the various target markets before developing the buyer personas that will guide crafting remarkable content your customers actually care about.
By clearly defining buyer personas, businesses can better understand and anticipate a prospect’s behavior, thus allowing for really great content that speaks to prospects instead of throwing a dart blindfolded and hoping for the best.
Maybe you have been shifting from basic target marketing to buyer persona development and didn’t even know it. Do you have an understanding of your prospect’s and customer’s age, gender, education, financial situation, buying decision and the shopping habits that they exhibit? If you’ve been finding out more in-depth information, surveying current and past customers, and collecting useful information about your target market little by little, your buyer personas can be developed based on legitimate research instead of guessing.
For assistance in defining a target market and buyer personas, contact our internet marketing professionals.