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Buyer Personas For Real Estate
Real Estate can be a challenging industry for even experienced marketing professionals to go after. Buyer Personas can help because they give you a simple, powerful way for your sales and marketing teams to better understand, engage and impact your customers. When you build your efforts around the insights these kinds of profiles provide — customer needs, wants, drives, desires, pain points, priorities, etc. — making strategic decisions, allocating resources and choosing tactics gets much, much easier.
What are "best practices" for developing Buyer Personas for Real Estate?
To be useful, Real Estate customer profiles should represent the most valuable segments of your customer base (as defined by conversion rate, deal size, property type preferences, location, investment size, purchase frequency, etc.), be organized around a framework that is directly related to your individual produce or service, like use cases, pain points, journey maps, buying triggers, jobs-to-be-done, lifestyle choices, life stages, professional affiliations, etc., and include personal and professional characteristics that facilitate empathy and understanding, like needs, drives, priorities, pain points, KPIs, etc.
How long does it take to create Buyer Personas for Real Estate?
If you’re committing to formal research that will include customer surveys, focus groups, one-on-ones, etc., then you’re likely to spend two or three months collecting and analyzing data, segmenting your customer base, and mapping your findings. On the other hand, when formal research isn’t an option, you can usually develop actionable Buyer Personas from personal observations and experiences in just a few hours. The key is to leverage whatever customer knowledge you can get, whether it’s coming from professional researcher or an afternoon white-boarding session with your team.
What do you do with Buyer Personas for Real Estate?
The biggest problem with Buyer Personas in the days before generative AI is that they just end up in a folder that never gets opened a second time. Now, these types of customer profiles can be incorporated into prompts, allowing you to dynamically generate personalized content and collateral like blog posts, emails, white papers, 1-sheets, etc.
In Real Estate, that could mean using buyer personas to generate personalized listings, email alerts for new properties based on a client’s preferences (location, budget, amenities), or even blog posts on market trends in specific neighborhoods. You can also create targeted content that speaks to different segments, such as first-time homebuyers or investors looking for commercial properties, offering advice tailored to each persona's needs.
Guides, eBooks & Downloadable Resources: