Buyer Personas 101 - The Ideal Client

Sara Ruthnum
Sara Ruthnum • Posted on Oct 15, 2013

You may have heard the term "buyer persona" thrown around on marketing blogs lately, but for many financial advisors, the task of creating your own buyer persona may seem overwhelming. Well here at Advisor Websites, we like to make your life easier any way we can! So we've created an example of a buyer persona that we believe may represent your typical client.

Interested in creating your own buyer personas? Download this free template

With a precise vision, your marketing efforts can turn strangers into leads, leads into clients. and clients into referrals. But before we get too far ahead, lets loop back and figure out what buyer persona actually is!

The buyer persona is one of the most effective tools in inbound marketing strategies. Essentially, a buyer persona is a representation of an ideal client. It is the evolution of thought from the target market which often focuses on demographics. A buyer persona goes beyond the professional role and looks at the 'whole picture,' i.e. his/her family, their interests and their time constraints. It is important to note that these personas are fictional, however they are created using tangible data.

Now that you know what a buyer persona is, you may be asking why they are so important. In order to put your best marketing initiatives forward, you need to understand your clients and their positioning. With a solid persona created, you can craft all content towards these clients. You should ideally create 3-5 buyer personas depending on your client base. Targeted content has been shown to provide higher quality leads with the potential to grow your clientele!

Now to our example, Derek the Doctor! Dr. Derek has not yet created a financial plan, and is looking for investment advice in order for him to retire comfortably at 60.

Name: Dr Derek M.D.
Sex: Male
Age 45-50
Occupation: Anesthesiologist
Education: Bachelor of Science, Bachelor of Medicine
Salary: $350,000-$400,000 USD
Family: Wife and two college aged daughters

*Now this is where typical demographics would stop, but for buyer personas we want to expand and create Dr Derek's story.

Priority: Supporting his daughters through college. Maintaining upscale lifestyle after retirement, including vacations, cars, and house improvements.
Pain Points (issues/problems): Time, often challenged finding a work/play relationship
Motivation: Retire (comfortably)
Needs: Trustworthy advisor, who is efficient and effective

Media Consumption: Financial Publications, Financial Advisor Blogs, BNN
Likes: Being treated as an important client, golf, family time
Dislikes: Time consuming advice
Research Methods: Google, newsletters

As you can see we are starting to create a better picture of Derek. But this is only the beginning! Try brainstorming a day in the life of Derek. For example,  Derek may open his emails in the morning, thus it may be useful to target this buyer persona by publishing content in the morning! The more developed these personas become, the more effective your content will be!

Buyer personas aren't the only thing you should be concerned about when it comes to marketing yourself, view Marketing 101 for Financial Advisors here.

marketing basics for financial advisors

We've created this extensive marketing manual for financial advisors willing to stay on top of their game in a highly competitive environment. You'll find a ton of information, tips and tricks to help you throughout your efforts to maximize ROI through sound marketing.



About Advisor Websites

Founded in 2012, Advisor Websites specializes in helping financial advisors stand out and grow their business online with conversion-friendly, personalized websites and targeted digital marketing solutions, all which follow FINRA and SEC guidelines.

Disclaimer: The content of this article is for informational purposes only. If you are planning to implement a new marketing practice and are unsure what the regulations are, always contact your compliance department first.

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