Creating a marketing campaign targeting the general public is hard as it is. You have to understand your target market's needs and address them at an acceptable price point and in a meaningful way. Easier said than done
On the other hand, if you're a B2B business, that means your target audience is other companies delivering their own goods and services to their customers. Now, how do you approach targeting them? This can be even harder than general targeting.
In this article, we're going to look at how creating a buyer persona can help you better understand your B2B target audience. Helping you better appeal to them and make more conversions. We'll also look at what a buyer persona is and how creating one will help your business.
So keep reading to learn more about B2B buyer personas and how they can help you increase your conversions.
A buyer persona or a customer avatar is a detailed description of a customer's personality, behavior, spending habits, and other pertinent information that make up who they are. In marketing terms, this information can be classified as demographics, psychographics, geographic, pain points, and the wants and needs of said customers.
Once this information has been collected, put it together to form a deeper understanding of your customer's situation to better empathize with them and offer a solution that best solves their needs.
On the other hand, a B2B buyer persona is the avatar you create from an analysis of your target business's persona, their customer's personas, their solution to their customer's pain points, their positioning in the market, tone of voice, and other relevant information regarding them.
The avatar or buyer persona will help you make informed decisions when approaching and creating marketing materials to use. It will also help you realize how the service or product you're offering will help them solve their customer's pain points, and better serve them - the basis of any business transaction in any market.
Now that we understand what a B2B buyer persona is, let's look at creating one.
The first thing you need to do is define your product and who it's for. Once you understand your target audience, it's time to segment the market. Because your target audience is other businesses, chances are, your options won't be that many. But this is good because segmenting will be simpler, research on them more in-depth, and you can dial in your product to better suit their needs.
Most B2B business is about helping another business deliver its services better to its customers. Your best chance of getting the buyer persona right is by understanding their customer's buyer personas and the business's personality. Why? Because businesses create their personas to complement their customer's personas to better appeal to them.
Once you understand these attributes, you've essentially understood what business they're in and how your product or service can come in to help deliver better products or services to their customers.
So, to create a B2B buyer persona, understand who your target business customers are, what are their wants and needs, their pain points, how the business positions itself in this market, its tone, its unique sales proposition, and how your product or service will help improve their product or service.
This information essentially is the making of a buyer persona, but for it to be effective, you also have to ensure that your product or service is going to help them better serve their customers.
If your target market feels heard and understood by your brand, they will gravitate towards it and support it. People nowadays want to buy products from brands that believe in what they believe in and act just like they do. If you figure out your target brand values and beliefs, you can better appeal to them.
If you can empathize with your audience's situation through your marketing and genuinely offer them solutions that help them solve their pain points. They are more likely to convert into paying customers. Buyer personas help you talk to your target audience from their perspective and a place of mutual understanding.
The common trend has been to use B2B appointment setting services to get you into the door of a prospective client. But without a deep understanding of their business persona, making the conversion is almost next to impossible. But with a detailed B2B buyer persona, you have all the tools you need to make and leave a lasting impression, increasing your chances of conversion.
A study done by Broadview also shows that businesses with buyer personas are 71% more likely to exceed their revenue and lead goals and 47% more likely to exceed them consistently.
An all-in-one marketing platform account will also help you organize your marketing materials making it easier to access, edit and change your campaigns.
Concentrating most of your efforts on customers who are most likely to lead to conversions is the best use of your time. When creating a B2B buyer persona, you also do a competition analysis that helps you figure out what your competition is doing and not doing. This helps you pick the underserved segments by your competition to fill.
In the small market of B2B marketing, there is no need to try and serve a segment that's already being served relatively well. Unless what you offer is game-changing or revolutionary enough to disrupt the market, otherwise concentrate on better serving the underserved segments. Your customer research while creating your buyer persona will help you determine this.
Marketing is a diverse and interesting field that helps us make informed decisions about moving our businesses forward. Creating a B2B buyer persona is part of determining what aspects of the market matter to our business and its success. So, create your buyer persona to help you better resonate with your ideal customers and improve your business's prospects.