How to Build an Effective Real Estate Buyer Persona

Jul 22, 2019 6:26:54 PM / by Karishma Pramanik

Build your effective buyer persona

 

New technologies have fundamentally transformed the way that business owners connect with clients. This approach of targeting is essential for real estate developers who are looking forward to refining their online strategies to beat their competition and stay on the top. But for this it is necessary you target the right audience.

As a real Estate Developer, you need to be well versed about Digital Marketing. If you are just starting off, we can help you with having an Effective Digital marketing for your Real estate company.

What makes a person your target? How are you going to identify them? What makes them unique to your company/business?

Buyer Persona.

But what is a Buyer Persona?



Source: Raka Creative for building Buyer Persona

A Buyer Persona is a fictional representation of your ideal customers sharing common trait/traits. This allows you to group your customers into segments, each represents a distinct persona.

Personas are just groups of customers, past, present or potential. These personas are supposed to be the heart and soul of your marketing strategy and content you produce. These personas are basically the people you are producing content for and you should know who you are speaking to. This ensures you are speaking the right things to the right people.

 

Why is it necessary to develop a Buyer Persona?

Your real estate company has a unique identity and so does your target audience. Buyer personas help you in framing and targeting your marketing communications.

Source: Web solutions, Inc for building Buyer Persona

Your real estate buyer persona will be beneficial for targeting as it will help you in identifying the people who will benefit the most from your services and who are the aptest to buy.

The buyer persona you build will help you identify the pain points and problems that your “potential personas” face so that you can figure out how and where to pitch your services. You will be able to create attractive content that will cater to their needs and lifestyle.

Buyer personas allow you an opportunity to only focus on one group, i.e. Most probable buyers, rather than pleasing everyone. You will be able to nurture buyers who have a better tendency to convert.

There’s one thing you should always keep in mind as a real estate developer is that just because two people share the same gender, age, income level, and geographic area, doesn’t mean that they will behave and interact with a company in the same way.

The reason for creating buyer personas is that it helps builders see the products and services they offer from the customer’s perspective. In doing so, it helps formulate the company’s inbound marketing strategy which ultimately delivers the results they need. 

Within any industry, buyer personas are important but particularly with real estate sales as they help salespeople attract and keep in contact with the right type of client. House buying can be a very emotional purchase as it’s not just bricks and mortar that is being sold, but a lifestyle.

For real estate sales, understanding a buyer’s persona can help in driving the idea of the designing of the house. This ability to segment audiences based on the understanding of their needs allows the builder to design homes that people want to live in.

 

But how do we create a Buyer Persona?

 

Source: medium-1 for building Buyer Persona

You need to take proper steps before you start building your buyer persona-

  1. Before you begin, you need t first review your already existing customers and their persona. This will ensure you have the basic data that you will be needing to create your buyer persona.
  2. Figure out who your target audience is. Funnel them down to segments. They can be
  • First Home Buyers
  • Lifestyle Upgraders
  • Millennials, etc.
  1. From the basic data you’ve collected from your past sales, make a note of them.
  • Age
  • Demographics
  • Psychographics
  • Target area
  • Gender, etc.

Also, identify what Internet channels they spend most of their time on. They can be

  • Google
  • Facebook
  • News sites, etc.
  1. Now that you have most of the information, you can now start providing a background story of your created persona. Go beyond demographics by focusing on qualities: What does this customer’s day-to-day schedule look like? What are their short-term and long-term goals?
  2. Illustrate their demographics by adding their average income or job titles or things they like to do in their leisure time.
  3. Next, define their needs and goals. Think about the things your customers want and enjoy. Are they looking for a home they can grow with or one that will act as a starter? How can they get the best return on their property, or how can they increase the value of their property in the least amount of time?
  4. Figure out what their challenges and problems are. Brainstorm what these issues are with questions like these-
  • What about their previous experience do they want to change?
  • What are they hoping to avoid?
  • What are they asking for specifically? 

 

There you have it, the perfect start to your Inbound Marketing Strategy. A start to a successful marketing journey with your Buyer Persona. 

A Buyer persona is a necessary marketing strategy every Realtor has to adopt. Therefore we have carved down some important marketing strategy every real estate developer needs to look out for. Check them out here.

 

Tools for Creating a Buyer Persona:

Source: istock for building Buyer Persona

Creating a Buyer Persona is not an easy task. It takes a great deal of research and effort to create an ideal buyer persona. But there are many tools and ways available now that will provide you a helping hand in developing this marketing strategy. Analytics tools, talking to customers, using research, user groups, online surveys, etc., will all start to add personality into your user persona.

We also have a downloadable free template if you want to know the exact way of creating a buyer persona for your real estate business. This will give you a clear understanding of how to go about building your other personas and plan your marketing strategies around them. Once a buyer persona has been created the marketing and sales team can then use it to identify when a potential buyer is likely to make an offer.

HubSpot also provides an option to create your own buyer persona called Make My Persona where you can create your unique Buyer Persona.

 

Karishma Pramanik

Written by Karishma Pramanik