How to define buyer persona in the real estate market

buyer persona in the real estate market

Offering your products and services to the right people at the right time: this is what the definition of buyer personas is for, or fictitious characters who represent a group of customers with specific characteristics, typical of the recipients we are trying to reach. Defining these audiences is a key element behind your real estate marketing strategies. Personal buyers are extremely useful for the development and definition of corporate communication, content, as well as offers that allow you to differentiate yourself from your competitors. They are, therefore, the foundation of any business that aims to acquire new customers, and then convert them and retain them. 

In economics, the market is defined as the meeting place between supply and demand. Of course, this is certainly true, but to date other factors must also be taken into consideration, first of all, the people who operate and move within the market.

The reason is simple: every purchase process in the real estate market takes the form of a person who has a problem to solve and decides to rely on a real estate agent to find the solution.

The buyer first needs to believe that you will keep what you promised him, helping him meet his need as efficiently and effectively as possible. In this way, you will be able to establish a relationship of trust between you and all your customers. To date, however, achieving this alignment is no easy feat given the changing needs of users. The buyer personas help you in all this, giving you the opportunity to dig deep into the minds of the people you offer your service to.

Why is it important to develop a buyer persona?

Personal buyers are the basis of the success of your real estate agency: to take your business to a higher level you have to analyze and understand your clients, not only as a mere statistic but also as real individuals.

By creating a fictional character with real characteristics, you can deepen and better understand the problems and needs of your customers, coming to understand not only how they act, but also why they act in that particular way.

So the buyer personas are real groups of customers (past, current and potential) that should be at the centre of your marketing processes. By knowing the people your marketing communication is aimed at, you can make sure you are saying the right things to the right people, without sending depersonalized and ineffective messages.

The benefits related to the definition of these segments of individuals are as follows:

– provide the information and perspective necessary to make effective decisions regarding your content marketing strategy, therefore also that of social media marketing;
– they help you determine the best and most used platforms and tools by your customers;
– identifying the problems and objectives of each of these characters helps you to better understand the most appropriate ways to set up the service you offer. In this way you will be able to define relevant and interesting activities and contents, which are in line with the needs of your customers;
– allow you to concentrate resources on certain types of customers, more profitable for you, rather than satisfying the needs of a multitude of extremely different individuals, making efforts that are sometimes useless;
– they allow you to customize communication in a strategic way, and therefore to create content directly connected to the needs of each potential customer, based on the stage of the customer journey in which they are;
– allow you to identify the reasons behind the purchase process;
– they help you interpret the behaviour of your potential customers, giving you a clearer idea of ​​how to encourage interaction with them;
– allow you to talk to your customers and potential buyers in their language.

Steps to follow in defining the Buyer persona

We now come to the practical phases, which will finally allow you to obtain the aforementioned benefits for your business in the real estate world. In fact, below we propose the main steps to follow in the creation of these characters.

Step 1: Find general information

Creating a buyer persona starts with a general analysis of who your customers are and where they come from. The easiest way to start collecting useful information is to analyze your current customers: age, gender, type of property purchased and other relevant elements.

Once you have done a thorough analysis, use the available data to divide your customers into a few groups (three to five), based on common trends and characteristics. Highlight the distinctive elements of each group to clearly define the segments. The fundamental objective of this phase is to identify a general framework, and then go on to define the details as you go along.

Step 2: Research the details

Now that you’ve specified your segments, proceed with defining the details. To do this, use as a reference the specific figure of one of your customers that best incorporates all the characteristics of the group.

Create and distribute a questionnaire to share more specific information about their origin, their families, their work, their consumption habits, their hobbies, their interests, their lifestyle, their daily routine, their experience in real estate and other elements. As you can see, all of this information is quite personal. From this, we can easily deduce the importance of establishing a bond based on trust, in order to obtain more in-depth data thanks to open and sincere communication.

An important factor in this sense is also represented by the understanding of the client’s personal goals. Think about what your client wants: is their goal to radically change their life by moving to a new city? Or is he simply looking for a home to spend the rest of his life in? Collecting information about your customers’ goals is extremely important because they are the ones who guide them through and through.

Also make sure you get information about the relationship your customers have with the Internet and therefore, for example, the most visited websites, or the social media in which they are most active. This will allow you to understand where to focus your marketing and communication efforts more.

At this stage, you could also consider the possibility of interviewing, among your customers, those who give their availability, either in person or by telephone.

Step 3: Define the buyer personas

The time has come to assemble all the data collected so far, to precisely define your buyer personas. Start by writing some pretty detailed profiles based on the information you have at your disposal. Add a photo for each account you have outlined, along with a name, in order to give a human face to a collection of abstract data, making them more effective and real.

Once you have completed the profile of these characters, you can use them to create marketing strategies that are addressed to their specific characteristics and their specific needs and objectives, guaranteeing a quality experience, and obtaining an increasingly large number of contacts. .

Now that you know who you are dealing with, it’s time to gather some ideas: what can you offer these people? How? When?

Whatever communication channel you have chosen (newsletters, website content, eBooks, social media, etc.) take into account the profile you have outlined. Remember that your marketing strategy should offer solutions that are actionable and tangible! If you are hoping that your customers will read your content, consult your ads, and eventually buy the properties for sale, it is important that your marketing communication is able to offer a solution to the problems that do not make them sleep at night.

Conclusion

By using buyer persona in the segmentation of marketing activities, you will notice a significant increase in the level of effectiveness of your communication strategies, and therefore a greater return on investment (ROI, or Return on Investment). Today more than ever, the needs of buyers are constantly and rapidly evolving, so the activity described, aimed at defining fictitious profiles, becomes extremely important to offer adequate solutions to your customers. It is a rather long and complex process, but the benefits are assured.