Buyer personas are widely recognized as an essential part of B2C marketing. In the B2B world, however, many brands emphasize prospecting based exclusively on firmographics.
While accurate firmographics can tell you which companies potentially have a use and sufficient budget for your solution, buyer-focused insights are still crucial to success.
It was not that long ago when the B2B market in many industries, such as manufacturing, was consolidated into relatively few hands. Today, technology is fracturing those markets by driving down barriers to entry.
Each brand must know how to appeal to its true ideal customer. Buyer personas make that possible in any B2B category. Here’s how:
1. Buyer Personas in B2B Marketing Can Help You Identify Needs and Wants
To market effectively, enterprises need to draw a distinction between what their customers want and what’s convenient for them to produce. By zooming in on unmet needs, leaders can find ways to differentiate themselves from the competition beyond matters of price and features.
2. B2B Buyer Personas Can Also Streamline Your Digital Marketing
Digital marketing happens both on and off your site. Buyer personas in B2B marketing allow you to determine what sources users trust so you can craft your outreach campaigns, such as influencer marketing. They also provide insights in the best way to shape your buyer-centered messaging.
3. They Facilitate Cross-Functional Teamwork
In today’s world, sales and marketing professionals must work together to achieve results. Buyer personas give them a common frame of reference. That facilitates a cycle of improvement in which sales pros share fresh insights from direct interactions with leads and marketers incorporate them.
4. They Give You Granular Control on Campaigns
Buyer personas equip you to design campaigns that are more cost-effective. Conversion rates are higher and placements like paid traffic can be optimized to highlight each persona’s pain points. This enhances user experience, since the content each type of buyer receives is more targeted.
5. They Help You Accelerate the Slow B2B Sales Cycle
The B2B world is known for exceptionally long sales cycles. Institutional inertia and the need to synthesize feedback from many quarters mean decisions take longer. Buyer personas help you expedite the process by speaking to potential objections earlier on in product research.
6. They Facilitate Retention and Higher Lifetime Value
Retention begins with the very first customer interaction. Retention rates are higher when you have definite buyer personas since messaging and offers match each buyer’s pressing needs. This positions you as a trusted advisor and makes cross- and upselling more likely.
Buyer personas aren’t static entities. You’ll constantly update and refine them as you learn more from real customers. However, personas will be a constant and reliable asset. From a product’s planning stages to the end of its lifecycle, they are indispensable.