The ‘What’s in it for me?’ method
- 6 minutes read
The ‘What’s in it for me?’ method
- 6 minutes read
*This article belongs to our Buyer Personas series inspired by the book ‘Buyer Personas’ by Adele Revella and Jim Kraus.
‘What’s in it for me?’ is a question that every customer asks themselves – either consciously or subconsciously – when buying anything. Sometimes, they see the value of the service or the product clearly, but sometimes, they need a little persuading. And if your business can address this question adequately – you have a product or a service that your customers will cherish because it might be precisely what they need at that moment.
But how do businesses address the ‘What’s in it for me?’ question, or even get to it? That is – how do you define the buyer persona?
Define your buyer persona
Many businesses, especially small ones, need help with defining who their buyer persona really is. And there are many consequences because of that – undefined uniqueness of the business, common sales points, or marketing that doesn’t resonate with the customers. But the cause of undefined buyer persona is that people no longer have 1-to-1 conversations with their customers. In the past, you didn’t have a way to avoid talking with customers, either in person or over the phone. Today, the digital transformation we have been experiencing has inserted a kind of distance between the customer and the business. Now, almost every customer contact has been automated: websites have surveys that rarely anyone uses, marketing emails also have surveys, apps also have surveys, and even call centers have long lists of options you need to go through in order to speak with a person. ‘How did you find us?’ surveys are sent left and right, often with very insightful questions. But, these questions are not enough for a business to truly grasp what’s going on among their customers.
“The one thing that hasn’t changed - or ever will - is the need for marketers to deeply understand what causes buyers to purchase your solution, a competitor’s products, or nothing at all.”
What is lost in these automated surveys is the human factor – the ability for a person to talk about their experience. They are too rigid to capture the essence of a person’s experience. No survey, regardless of how short or long it may be, allows customers to deviate from its structure and speak their minds. Only a genuine person-to-person conversation can allow a deviation from the preset questions.
So, sincere one-to-one conversations about the service are the starting point. And if you have existing customers, calling them regularly gives you a much better perception of your business than any survey can.
What it looks like knowing your buyer persona
Apple, Tesla, and some other big brands get their buyer persona right. They figured out the appeal of their products, and now they capitalize on it.
Was that always the case? Certainly no. At one moment, Apple had more than 30 products. Then, Jobs slashed their offering by 70%. By splitting the users into four quadrants, Jobs slashed the products and focused on what matters most to their customers. Even today, we can see this distinction between their consumer and pro devices.
And Tesla? Tesla started on the opposite end; they had one offer—just one—but it was better in many aspects than other offers at that price range—a roadster for $80000. Its luxury allure was appealing to electric vehicle enthusiasts. So, it’s not a van or a small toy-like city car—a complete roadster competing with luxury cars for half their price.
(by the way, Tesla and Apple have very similar product launch events. Although Tesla is in the car industry, it behaves like it is in the IT industry. That may be why their product launches bring all the buzz. Also: customer-centric and humanizing the brand through Elon Musk. Dollar Shave Club did it, too.
How to apply the ‘What’s in it for me?’ method
By going through the process of understanding your buyer persona, you can also assign certain traits to them. If these traits are proven to be correct, you can later adjust your marketing efforts to fit the persona.
So, how do you apply this method? It’s simple: Who are you selling to? Don’t look only at the demographics – look for the person behind traditional audience segmentation. What do they feel before they buy your product or service? And what do they feel after? Is it a one-time purchase, or are they returning customers? What is their customer experience like? What are their challenges, their needs? What about their responsibilities?
Then, look at your business from an entirely selfish point of view. What would you do as a customer? How can you decide on and justify your purchase? What are your objections, and how would you like them addressed? What value do you see? How did you get across this business? You are creating an archetype of your ideal customer, so develop questions that will help you get to know this imagined person.
Finally, give a name to your buyer persona. If you have three archetypes, name all three. And, attach a picture you can address when creating sales pitches, content, or any other marketing collateral. The ‘What’s in it for me?’ method allows you to depersonalize yourself and take a step back from your business by observing it as an ideal customer would. It enables you to identify the emotions that a potential customer approaches your business. Finally, the method helps you address customer objections ahead of them.
Now, test your questions against your customers. You will most likely find a gold mine of really important information that you can later implement in your business. You can do amazing stuff by getting to know your customers. And all you have to do is just ask, in person, and listen.