Every marketer has learnt, read or at least heard about the concept of STP in marketing. STP stands for Segmenting, Targeting and Positioning. It is quite a common concept along with SWOT and 4Ps. In modern marketing, we use buyer persona in addition to defining the target market. It is a description of a user – their attributes, aspirations, expectations, pain points etc.
Attributes of a buyer persona
The attributes are broadly categorized as:
Demographic – Age, marital status, education, employment, gender etc.,
Geographic – Region, City, State, Country, Neighbourhood etc.,
Psychographic – Core values, Lifestyle, risk taking ability etc.,
Behavioral – Loyalty towards the brand, Product usage patterns, Benefits expected etc.,
And a buyer persona is the persona definition of the buyer of either your product or service or the brand itself. Defining it means the culmination of multiple possible attributes that you can leverage to attract the buyer and convert the sale.
How to define a buyer persona
Here’s an example of how you can define a buyer persona.
Box is a cloud storage platform to store and back up documents, images etc. all at one place. Also, it allows you to access, update and delete documents across multiple types of devices irrespective of your current location.
Let’s assume Box aligns itself with large businesses and wants to capture the document storage segment in this market. A buyer persona for Box could be a VP or above in Information Technology or Operations function. The core decision maker in the organization with employee count more than 2000.
The definition helps in identifying and targeting the right leads. Once the buyer persona is defined, the next step would be to target them.
Inbound marketing vs marketing automation
Traditionally, marketers have had different levels of success in Inbound Marketing. Marketers build out content, distribute them on various social channels and attract prospects to a landing page where they can fill a form. Marketers then screen the prospects and qualify leads to check if they match the buyer persona.
However, there are several issues with this process:
- Form filling has a 30% error rate in prospect data collection. Prospects fill dummy values for name, contact information.
- There isn’t a predefined set formula to get prospects to fill a form. At best, it is only an expectation.
- The process of mapping prospects to the buyer persona is a manual and tedious effort.
- The cost of motivating a prospect to fill a form is more than USD 25 per lead.
Marketing Automation is an alternative to inbound marketing. It is better than traditional marketing, ensures high performance, is cost efficient and provides better control.
Leadmi.io is a marketing automation platform that allows marketers to define the persona of potential buyers through multiple attributes. Once defined, the automation platform will generate leads with their profile information. This contains user email, contact number and other demographic details. The information is sourced from the internet. Moreover, the leads are automatically qualified to your buyer persona. It cost less than 50 cents per lead!
In fact, Leadmi.io can also identify the prospects interacting with your brand on multiple social media platforms and automatically qualify them. Social listening as they call it is at the heart of Leadmi.io.