As Director of Buyer Behavior Studies here at MLT Creative, I am always researching how we can better understand our buyers and thus motivate their buying behavior. Based upon my research, I argue that buyer personas are a fundamental part of understanding your buyer (and thus his/her buyer behavior) due to many psychological and sociological reasons; however, sometimes that may not be enough to sell my readers on them. So when I saw BrightTALK, DemandGen and Forrester's webinar this morning titled The ROI of Buyer Personas, I noted its great statistics and wanted to share them with you all.
Buyer Personas & ROI
Utilizing buyer personas in an email campaign gleaned the following results:
- 2x the open rate
- 5x the click through rate
Today's Buying Cycle
The webinar also gave some great statistics regarding the buying cycle today; though they were situated within the context of the UK, based upon my own anecdotal evidence I'd argue they have meaning here as well.
- No one influencer has more than 30% of the total power through the purchase process
- The average number of different sources used throughout the purchasing funnel is 7.6
- The ratio of what buyers find on their own versus what we can send them versus what sales can deliver is 3:1:1
Today's buyer has changed drastically and thus we have to change our process as well. So if you aren't using buyer personas yet you must start. And remember, they themselves are just a starting point as well; it's what you do with them that delivers the ROI.
And if you need help getting started, I highly recommend using the free Up Close & Persona tool. It helps you think about all the different variables that go into creating a buyer persona, by asking them in a way that allows your brain to process each discrete category in order to then create the whole.
Vann Morris is the Director of Buying Behavior Studies with MLT Creative. She is a Social and Behavioral Scientist who is currently working on her PhD in Communications, and uses her strong theoretical background in order to show how scientific theory should be used to develop strategy and effective B2B marketing campaigns.