Buyer Personas: What Are They and How Can They Help Your Business?

location intelligence solutionWhen creating a business or expanding your already established business, it’s important to think about exactly who your want your customers to be. But did you know that using geospatial data and location intelligence solutions can actually make defining your customer base easier?

That’s right. Using location intelligence software, you can create what is known as a buyer persona and learn exactly what your ideal customer will want and where they will most likely reside. But what is a buyer persona and how exactly can it help your business grow? Keep reading to find out.

What is a buyer persona?
Simply put, a buyer persona is a semi-fictional representation of your ideal customer. This persona is created using accurate market research and concrete data regarding existing customers who frequent your business. These fictional buyer personas will not only reveal information about your current base of customers, they will reveal the possibilities for future customers, as well.

How is a buyer persona created?
Buyer personas utilize several data points for creation. Among these points are location, customer demographics like age and income, behavior patterns, and even motivations and goals. Location intelligence solutions combined with geospatial technology can help create even more precise buyer personas for your business.

How can a buyer persona help my business develop?
A detailed buyer persona may take a little bit of time to cultivate, but the results are well worth the effort. And the more detailed your persona is, the better off you’ll be. A detailed buyer persona can help you figure out exactly where to focus attention in your business, as well as help guide product development and even help hone your marketing strategy.

Can buyer personas help expand my business?
Once you’ve developed these detailed buyer personas, you can take the information one step further. Location intelligence software can enrich your personas and even help you find areas where customers with similar demographics and motivations reside. So if you’re looking to open a new location, this data is invaluable.

The geospatial data industry earned $73 billion in revenue in 2011, and the numbers are only growing as businesses evolve and technology advances. Why not use this to your advantage and create opportunities for your business?

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