One part of your business plan should be about your marketing strategy and how you plan to find your customers. As the person who understands your product or service best, you’ll have the clearest idea of who would want to buy what you’re selling. This post will help ensure you’re reaching out to the right people with some additional research recommendations.
Creating Buyer Personas
Creating a buyer persona can help you determine the different ways you will market your product to a specific audience. A buyer persona is a comprehensive description of someone who falls within your target audience. The different groups and demographics you plan to target will determine the number of personas you create. For smaller businesses, you might need three to five personas. A larger business or corporation may have dozens.
What to Include in Your Persona
When you are developing your buyer personas, you will want to ask yourself these questions about your fictitious customer:
What is their demographic information?
Do they have a job? If so, what is their job and their level of seniority?
What does a day in the life of “shopper 1” (you will name them) look like?
What is the problem they are trying to solve? What can you do to help them solve it?
What does fictitious shopper 1 value most? What goals do they have?
Where do they get their credible information from?
Why Buyer Personas Are Important
Buyer personas are beneficial when it comes to how you market your product or service. When you build your website, set social media, or create in-store displays, you want to create them as if you are speaking to the customer you’re servicing.
You already know that your business and product or service may not be for everyone, which is why your focus should be on the people you want to visit your business or website.
Collecting Customer Data
Once you start making sales, it will quickly become apparent what’s working and what isn’t. Collect data from your customers through reviews or surveys, or ask them for feedback. With that information, you’ll be able to fine-tune your marketing campaigns to target your audience better. You can create customer profiles that identify the characteristics of people who buy your products. These are similar to buyer personas but based on the actual data you collect.
In addition to reviews and satisfaction surveys, you can also track website traffic, ad engagement data, and social media metrics. Use these data collection methods to determine where there’s room for improvement, which groups you’re not reaching, and who you need to focus on for your business’s success.
Don’t Ignore Your Social Media
One of the most popular forms of marketing and audience targeting takes place through social media. Globally, 49.03% of people are on some form of social networking platform!
Facebook and YouTube are great for paid ads that target your ideal audiences. Instagram is a good choice for sharing business-related content, interacting with the community, and growing an organic following for your brand. You can explore options to collaborate with an influencer whose following overlaps with your target audience as well.
Social media can be one of your biggest allies in reaching out to your target audience.
Observe How Customers Interact with Your Brand
Customers will be exposed to your brand through a number of ways. This includes your website, social media, email campaigns, customer service, and promotions. One of these experiences could be benefiting your business more than others. How can you figure out what your customer enjoys as they explore your brand?
Ask for Feedback
The only way to find out how a customer experiences your brand is to ask them. You will probably receive some negative feedback along the way but understand that this is typical for all business owners. Don’t let the negative comments get you down – embrace them and learn from them! These are opportunities to learn the truth about what you could improve on within your brand. It also doesn’t hurt to throw in a perk for someone who took the time to check out your business but was left unsatisfied.
To learn the most about your customers’ experiences, make sure they have the chances to give feedback. Show that you welcome your customers’ thoughts on social media through your brand voice, polls, and keeping reviews turned on within platforms like Facebook. Check to see that you have a Google Business Profile where they can leave reviews too. Send out surveys after they receive their purchases and include links to contact your business on your website.
People tend to leave feedback online more than they do in person, so make sure they have the opportunities to do it! It will only help you target your audience better and improve your customer service.
Hatch Makes Building Your Business Easier
We know there’s plenty of research to do while launching and improving your small business’s marketing campaign. That’s why we want to help entrepreneurs manage their finances better with a powerful small business checking account.
Our team is hard at work building Hatch Business Checking, a modern business bank account with no minimum balance requirements, no NSF fees fees, 1-5% cashback rewards, and discounts on business software! We’re not like any traditional business banking option. Click here to sign up for our waitlist and learn more.
It’s time to start putting your business plan in motion! In a previous post about building your business plan, we explained how to build a business plan strategy and what to accomplish in each phase.
Subscribe to our newsletter
Get regular content and resources for growing your small business!
Hatch is not a bank. Banking services are provided by LendingClub Bank, National Association, Member FDIC. The Hatch Mastercard Debit Card is issued by LendingClub Bank, National Association, Member FDIC.