A broker’s guide to marketing #3: Consumer psyche
The third installment in our ‘A broker’s guide to marketing’ series takes a psychological look at your consumers. By understanding consumer credentials and behaviour, marketing can be targeted and more refined. Getting into the psyche of your target audience and understanding your niche.
Marketing personas are a must-have in your marketing strategy; these are developed to represent who you are trying to target based on what you’re selling.
So, ask yourself about your customers:
- Demographics – Where are they based? Is gender important? What age group are they?
- Psychographic – What brands to they like? What hobbies do they have?
- Behavioural – What products might they be interested in? How might they want to trade with you?
Good marketing personas are created from the customer’s perspective - what do you offer them that’s different to other brokers? It allows you to understand your unique selling points (USPs) so you can highlight them. It also allows you to know where your customers are, what they read and what events they go to that link with your products to enable you to reach them at the right time and place.
For example, as a broker with a yacht insurance product you should be looking for any specialist sailing events that would appeal to your customers and be there yourself. Which specialist sailing magazines or journals would appeal to your customer base and how can you feature in them? Your marketing personas research will, if done well, provide you with all of this information, tailored to your niche product and customer base.
While conducting marketing persona research, take note of what bugbears your customers have. This will be the basis for strong, consistent messaging that will stand out to your customers. Knowing what they hate and what they love paves the way for benefit-led messaging that drives action.
Always think from the customer’s perspective: why should they buy from you?