A buyer persona is a carefully constructed portrait of each of your significant market segments. It personifies a market segment to give you a more accurate picture of your existing and prospective clients.
What if your small, independent insurance agency has decided to target a single Millennial female audience, which we’ll name Marketing Segment No. 2? An uninformed agency may decide that their current approach to marketing will work for any demographic, but can you be sure?
Imagine that your traditional market has consisted of married, female Baby Boomers, which we’ll call Marketing Segment No. 1. Knowing some of the defining features of each market will give you a more informed stance from which to determine an effective marketing strategy.
Take a look at these model personas and consider how they might affect your marketing campaign.
<h4>Demographic Information</h4>
<li>Age: 44-62</li>
<li>Gender: Female</li>
<li>Annual Income: $60,000</li>
<li>Location: South Carolina</li>
<li>Education: College graduate</li>
<h4>Goals & Needs</h4>
Despite the fulfillment that she finds in her career, Dorothy is ready to retire and spend some quality time taking care of herself and spending time with her loved ones. Her goal to enjoy her retirement age and her past commitment to saving givers her a view of insurance as a valuable investment that will protect her from unforeseen obstacles.
Dorothy needs to be reassured that her insurance policy and her insurance agency will support her during her times of need.
Dorothy works 60+ hours per week at a job that she has held for 25 years. She’s proud of this accomplishment and of the money that she has put aside for her future. She has a tendency to be frugal with money as she has a rather pessimistic view of what the economy holds in store for herself and for her family.
Dorothy is at her peak in terms of earning potential, and she’s invested money into savings, bonds, and retirement. Despite that, Dorothy is anxious about her financial future.
Dorothy also has a child, whom she fears may never settle into a full time job. She is willing and happy to help her child financially, but she fears that she may be left with little to sustain her during her retirement years. She wonders if she’ll have to continue working into her golden years.
Age: 25-32</li>
Gender: Female</li>
Annual Income: $42,000</li>
Location: South Carolina</li>
Education: College graduate</li>
Sophia is just starting out as a professional. Despite her college degree, she has found it difficult to find a job that fulfills her career goals while also providing enough income to cover the cost of her college loan. Insurance, for Sophia, is another financial burden. She doesn’t have the time to weigh every option, and all of them seem exorbitant.
Sophia needs an agent able to sympathize with her frustration while also helping her to understand the value of insurance.
Sophia works 60+ hours a week, but she doesn’t see room for growth in her current position. She will likely change career paths numerous times throughout her life. She isn’t interested in starting a family anytime soon, but she is actively involved in many civic and volunteer organizations. Though her situation is stressful, she is optimistic about her future, and she believes that she can and should make a positive difference in the lives of other people.
Sophia is at the low point of her earning potential, and she’s not certain that her earnings will ever suffice to pay back school loans and other debts that she’s incurred. She’s cautious about spending, but she does want to enjoy the money that she’s earned. She has no money in savings, no bonds, and retirement isn’t looking promising, but it’s so far away that she doesn’t think about it.
Next week, we’ll look at how your marketing department might use these personas to develop campaigns to appeal to each market segment. If you don’t have a marketing department, consider contacting Agencies Online. We provide customized marketing services to independent insurance agencies at reasonable rates.