People often ask us how they can tell if their buyer personas are accurate and actionable. In a recent survey we heard questions such as “How do I really know if my buyer personas are right? And, “How can I make sure they tell me what matters to buyers and prospects?”
The short answer is that buyer personas work when they reveal how buyers think about the buying decision you want to influence.
While many companies use interviews to source their buyer personas, most of those interviews are conducted with the company’s salespeople or customers. Instead of a factually correct representation of their buyers, including those who prefer a competitor’s approach, these personas have a strong bias in favor of the company that develops them.
There is a pressing need to eliminate self-serving personas. It makes no sense to invest in describing only the ‘ideal’ buyers who are delighted by our story when those customers represent a small part of the market we need to influence.
Fortunately, the truth about real buyers is readily available through interviews with people who have recently evaluated for purchase a solution, product or service similar to yours.
Important point: this is not what most people mean when they talk about buyer personas, which would be more accurately labeled as buyer profiles in that they focus on describing people, not buying decisions. Even if these profiles are based on solid research and buyer interviews, they fall short of fulfilling our mission to know what we need to do and say to persuade buyers to choose us.
Asking yourself the following questions will guide you to more accurate buying insights:
- Did your buyers say it matters? If not, it’s a guess or an opinion.
- Less is more. In every persona segmentation study we’ve ever conducted, we’ve identified the need for fewer buyer personas than the client expected. Why? Because personas should only be segmented based on differences in HOW and WHY PEOPLE BUY – not your product lines, industries or job titles. If buyers are of like minds about the buying decision you want to influence, they will respond to the same sales and marketing activities. You are only making work for yourself by building multiple personas.For one client we looked at several of their major markets, and discovered three buyer personas—based NOT on market or industry, but on unique insights we uncovered about each buyer’s approach to this type of buying decision. A previous vendor had created dozens of personas, confusing everyone and virtually guaranteeing the persona work would sit on a shelf. Don’t get lured into demographic or product-based segmentation. You care about differences in your buyers’ thinking about a buying decision. Besides- who can market to 28 personas?
- Interview people who have recently been buyers. Find buyers who decided that the status quo had to go and it was time to change, and have invested time or money to solve the same problem. People act and think very differently than they think they will when budget is on the line, which is why so much ‘opinion’ research turns out to be misleading. The interviews that will give you real insights are conducted with people who have a true story to tell about what happened when they DID IT.
- Your first interview question is: “Take me back to the day when you decided (problem to solve) was important…” Then ask the person to tell you what was special about that day and why they didn’t act sooner. Spend five or ten minutes on this moment and you’ll know a lot about why and when buyers are receptive to hearing from you.
- Don’t work from a script—ask the buyer to tell you everything they did and thought about as they evaluated their options and made a decision. Whatever they tell you is something that was very important to them or they would have forgotten it by now.If you really listen and are interested in what the buyer has to say, you’ll be amazed at how engaged the buyer will get in telling their story and how much they’ll reveal. Leave your agenda behind. These are golden insights that you’re not going to find if you present your ideas—and God forbid, “Was it less important, highly important, somewhat important, shoot me” – like typical market research involves.
- Ten interviews may not seem like much, but unless you want to find differences between different segments of buyers, ten is enough. Whatever you hear in interview number 11, 17 or 26 won’t be worth the investment. If you are accustomed to surveys this might sound strange, but remember: you are looking for game-changing insights that a) the competition doesn’t now and b) you can exploit in your marketing and sales interactions – not charts and tables filled with data. If you need certainty, commission a quantitative study after the interviews to validate your findings.
- Your objective is to capture ACTUAL BUYER QUOTES and comments—not the opinions of your researchers, internal staff or agency. This is a big one. With traditional qualitative research, ethnographic studies and focus groups, you are paying for a research firm’s OPINIONS about what they heard. Your personas should reveal the buyers’ actual words summarized with headlines that reveal patterns across the interviews. We recommend organizing the quotes and headlines around the 5 Rings of Buying Insight™ -- Priority Initiative, Success Factors, Perceived Barriers, Decision Criteria and Buyer’s Journey. Click here to see an example buyer persona.
If you follow these seven steps and go to the source for your buyer personas—actual buyers—no one will worry if you got them right.