Working out who is your target client?

A customer segmentation exercise will help to define your most high-value client type. In Client Relationships unit 4, Effective Segmentation details how to carry out such an exercise to segment your clients. In doing this, your client base is divided into smaller groups, which you can then plot on a customer matrix where each of your customers may be positioned. This exercise will clearly show which of your clients provide the most value to your business and is, therefore, your most valuable client type. You may then like to use this client type as the basis to create your ideal client persona. You may also wish to use clients who fall in other areas of the matrix to inform your other client personas. Clients who provide the most value and therefore the most benefit to your business are most likely those whom you would wish to target principally, so creating this client persona first is a sensible course of action.

Do note, however, that if you do not undertake the segmentation approach, you can still produce client personas – the two exercises are not co-dependent, but they are complementary and interconnected.

Should you create different personas for different client segments?

While creating different personas for different client segments is more time-consuming, doing so can prove to be highly valuable. Client segments often have unique characteristics, preferences and needs, and creating personas specific to each segment will enable you to tailor your marketing and communication efforts more effectively, thereby increasing the likelihood of successfully engaging and meeting the needs of your clients.

2.  What personas are typical and relevant to the financial advice industry?

The personas that you create for your advice practice will be unique to your business, according to your firm’s specialisation, geographic location and target market, and one size does not fit all in this exercise. However, it is quite likely that there are a few personas that will be typical to the financial advisory industry as a whole and, in this section, we will consider four of the most typical personas in a little more detail.

3. How to build a client persona

It may seem like an arduous process to build your target client persona, but in this section, we will give you step-by-step instructions to ensure that it is achievable and straightforward.

Group similar characteristics

Using the client segmentation approach, deduce which of your clients are the most valuable to your business. It is likely that the clients who provide the most value to your organisation are the types of client whom you would like to attract with your new content.

Completing the client matrix, deduce which of your clients fall into which category and then group clients with similar characteristics.

By grouping clients with similar characteristics, you can then use these to work out between two and four client personas of clients who fall into your target client category. Regularly evaluating and adjusting the segmentation will ensure that the groups remain relevant and effective in influencing your client personas.

Name and describe each persona

When you have between two and four target client groups defined, you will need to come up with a name and description for an individual fitting this client group. Use all genders for your names and descriptions, noting that alliterative names work well as they are easier to remember. For example, “Empty-nester Emma” or “Professional Peter”.

Once you’ve named your persona, find a headshot that you think suits them. It is worth adding a headshot so you can really gain a clear image of the persona in your mind.

Now give them a personality

Delve into your character in more detail, writing down their personality traits. To help you with this, at the end of this module there is a downloadable document detailing all the requirements to be completed for your client personas, which will ensure that your profile is thorough and complete.

Start filling in the gaps thinking about the answers from your client persona’s perspective. What hobbies do they have? At their stage of life, what are their goals and aspirations? Do they have any specific interests? What do they do in their spare time?

Completing this element of the exercise humanises your client: it brings them to life and makes them relatable. Giving them a personality enhances empathy and understanding and facilitates storytelling. It guides communication techniques and messaging and enables the customer experience to be enhanced. By personifying the persona, you will create a more meaningful and actionable representation of your target client.

Go deeper by incorporating behavioural insights

Now go beyond the basics, looking more deeply into your target client’s behaviour. Do they use the internet? Which platforms do they use? How regularly would they use them and what are their online habits?

By delving into the behavioural insights of target client personas, your business will understand more about your clients’ actions, motivations and decision-making processes. These insights will then serve as a foundation for making personalised content and marketing strategies, to enhance the customer experience and develop products that meet their specific needs and preferences.

How many personas should you develop?

Creating too many personas will dilute your marketing and content creation efforts, so creating between two and four personas is a sensible guide. This should enable you to cover a range of relevant demographics, financial goals and aspirations and personality traits.

Make sure your personas are distinct from each other and represent significant variations in characteristics so you can use them to tailor your content to each segment effectively.

Use the worksheet template

Finally, download our client persona template to guide you through this process and ensure that all aspects of your target client persona’s personality are developed.

5. Crafting client-centric content

In order to make content that speaks directly to your clients and has their requirements at the centre of your focus, you will need to fully understand your audience and tailor your content to suit their needs, preferences and interests. Creating target client personas is one way to assist with enabling this, but it is not the only way.

Below, we highlight some additional methods to ensure your content engages with your clients and reaches your target clients, addressing their needs.

Incorporate educational and informative content to empower clients

Focus on creating high-quality content that educates and informs your audience. Understanding your client’s pain points and offering practical tips, how-to guides, case studies and research-backed advice to help them overcome challenges or achieve their goals sets you up as an industry expert, building your credibility and building both your credibility and trust in your brand.

Providing value without a sales approach shows you prioritise the needs and aims of your clients, fostering a positive relationship with your audience. It enables you to establish yourself as a trusted adviser and thought leader in your industry, which should assist in cultivating long-term loyalty and engagement with your clients, along with attracting new clients.

Personalise content formats

Understanding the preferences of your target client will enable you to produce content in formats most suited to them. You may find that your younger audience is more receptive to videos and podcasts whereas others may prefer a blog post. Understanding which formats they will engage with most effectively means you know to produce your content in these formats. Remember that you don’t have to create new content for each format; you can adapt blog posts into videos or podcasts into LinkedIn posts, for example. The most important aspect is ensuring that your target client sees your content and can engage with it.

Use the language of your clients

Adapt your choice of language and tone to align with your target audience, using terminology and phrases that will resonate with them. If you speak your target client’s language, you will not only make your content easier to understand, but you can also build a valuable connection.

Encourage engagement and feedback

Fostering a sense of interaction and engagement with your audience, encouraging comments, questions and discussions, helps to create a dialogue and build relationships with your clients or target clients.

Use storytelling techniques to connect with clients

Never underestimate the power of using storytelling in your content. Stories have the power to evoke emotion and create a deeper connection with your audience. By incorporating narratives, anecdotes or personal experiences into your content you can connect emotionally, which, in turn, fosters a sense of relatability and empathy, allowing clients to connect with you and your brand on a more personal level.

Stories are engaging and memorable: they capture the imagination and draw people in, making your content more compelling. They can also build trust by sharing personal experiences, conveying authenticity and credibility.

Conclusion

Creating client personas and developing client-centric content are essential strategies for reaching and building strong relationships with your target audience. It is important to tailor your content not only through what you say but also through the format and language in which it is said.

Client personas serve as a guiding framework, enabling you to craft personalised relevant and engaging content that resonates with your audience. By continually referring to these personas to create your content, you can build credibility, foster trust and nurture long-lasting relationships with your existing clients. Additionally, this content should also attract new high-value clients.

Client-centric content creation is not just about creating compelling material but also about forging meaningful connections that drive engagement, loyalty and ultimately business growth. Embracing the power of client personas and client-centric content will enhance your marketing efforts and drive success in today’s customer-centric business landscape.

Action points