Do you know who you’re selling to?
“I have been using your product, but for what good! It’s been a complete waste of my money.” Do you get a lot of these? Ever wondered why?
It had been some time since we were getting quite a few of these. We politely addressed these issues. But at the same time we knew that this was not sustainable and the underlying problem was not users misinterpreting the use of our product. The problem was our ‘STP’, the fancy jargon that all of us learn in our marketing programs. The thing is that if you haven’t segmented clearly, chances are that no matter how great your product is, you WILL have a tough time getting the idea through to your audience. Reason — they aren’t your target audience.
‘Buyer Persona’ — having this clearly defined will not only save your support time, but also help you have a more targeted marketing strategy. Now, what is a buyer persona? According to HubSpot, an ideal buyer persona will help you understand your customers better. Needless to say, it’ll help you target better. This obviously doesn’t mean that there wouldn’t be unhappy customers, but it wouldn’t be for the lack of correct positioning.
Can you have only one buyer persona? No! You can have multiple buyer personas. In fact, it’s good to create multiple personas. A good way to go about is to see the factors on which you can generalize the behavior of customers in your industry.
While I am at it, I might as well explain how we went about it. Bare with me, it won’t take long.
We were moving to a new platform and wanted to start with the right target audience. As I mentioned, on our existing platform, since we went paid, we had our -otherwise happy-users came to us saying that they didn’t see any results and would consistently ask for discounts or simply haggle. Also, these users had a high churn rate.
On the new platform, we wanted to be absolutely clear with our positioning — what we can and cannot help our users do. We would be happy to under promise and over deliver but the other way would be a disaster. There we were — pouring through whatever literature we could find on personas. Ideally persona is a generalization of your customer on some homogeneous factors — demographics, behavior, attributes,transaction value, etc. We had earlier singled out revenue as it would have defined our users size, paying capacity and price sensitivity. But, after some deliberation decided to go with social media usage (attribute). Doing it this way will also help us plan our content map.
Having personas doesn’t just help you in targeting them better, it can also help you with your pricing, bucketing features, educating users and overall support.
Knowing your customers too well can never hurt, it only helps to serve them better!
What do you think?