The Importance Of Creating Buyer Personas For Franchise Start-ups
Looking to develop your franchise business? Start with a buyer persona.
A buyer persona is an artificial customer you’ve constructed using market research and current client data. Generally speaking, the importance of a buyer persona is that it informs marketing campaigns and helps stakeholders identify the ideal customer.
But a number of franchisees are unsure how to begin the process of creating buyer personas. Many assume that franchisors create buyer personas and franchise start-ups use what they’re given.
This is simply not the case. Franchisees who build their own ideal client are typically more successful in generating business. To help explain why this is the case, here we outline the importance of creating buyer personas and how best to go about it.
Why buyer personas are important
Franchises, like other businesses, benefit from identifying their target audience. It isn’t feasible to market to everyone; you need to hone your message so that it appeals to those most likely to engage with you. Buyer personas are that refined target audience, with reasoning and logic weighted behind them.
Where buyer personas for franchise businesses differ, however, is that you’re often working with franchisor data. A quality franchisor will hold information on those who typically invest in their product or service – data that you can use to educate your own buyer persona. You can isolate their pain points, get familiar with the channels they use, and refine your message so it meets their needs succinctly.
This isn’t an exercise to be taken lightly; you are essentially directing your entire business franchise around the generation and conversion of this particular audience. The more concise your message is, the better able you are to get their attention.
Remember, franchisees often compete with major chains and beloved local businesses. Customers favour trusted brands when they are choosing a product or service. That is the importance of buyer personas: being able to offer something more personal and more value-driven through strategic messaging. Showing your understanding of your customer can help establish the trust that many other businesses have already won.
How to create buyer personas
Now comes the tricky part – creating buyer personas. This process is lengthy, and over time, it will need to develop in the same way your audience does. Start by picturing exactly who would purchase your products and services. What does this person do? Does their position at work easily allow for the service you offer?
If they can afford what you’re selling, broaden your understanding of their working position. How long have they worked at that job and lived in their home? Make a note of the challenges you think they face, and identify how your product or service can solve these issues or is hindered by them.
These are just the early stages of fleshing out your ideal customer. If you really want to know how to create buyer personas, you need to go deeper. Map out their age, gender and ethnicity. Use this information to log the kind of websites they visit, magazines they read and any other relevant media they interact with. See how this impacts their aspirations and position your product so it falls in line with these aims.
How to use buyer personas
Once you’ve ascertained the above information, half the battle is already won. You can reach your target audience directly on channels they use, with a message that resonates. You can tailor every campaign to address their pain points and tie in any motivations they may have.
Recognising the ideal customer in this way benefits content creation and strategy. Think about it: all your marketing as a franchise business is now informed by the needs of your audience.
Sometimes franchisees are guilty of casting a wide net over local opportunities in an attempt to have higher chances of success. But that isn’t what buyer personas are for. They help you get in the minds of the audience most likely to engage with you. By trying to meet everyone’s needs, your message will fail to resonate with anyone. It will be drowned out by competitors with bigger budgets and a more established presence in the community.
Using a buyer persona doesn’t prevent you from attracting people outside of it – it acts as a guide for all of your marketing output.
Where we can help
Creating buyer personas is a necessary stage of the business start-up process. These personas inform strategy and allow you to tailor your message in a way that best communicates to an audience.
At Rainbow, we encourage our franchisees to create their own buyer personas to support their marketing. We believe it heightens their chances of becoming a more successful operation and restricts misspending on advertising.
Through our rigorous training and support programme, our team can give you the knowledge you need to effectively market your new start-up. If you would be interested in working for a franchise that promotes growth through informed strategy, get in touch.