Persona marketing is a strategic approach that enables companies to better understand and target their customers by creating semi-fictional profiles called personas. These personas represent the different categories of a company’s potential customers, taking into account their demographic characteristics, behaviors, objectives and specific needs. Created using real data from research, market analysis, surveys and customer interviews, personas help companies to segment their audience, refine their marketing messages and develop more relevant products.
In competitive sectors such as banking, asset management and wealth management, where a relationship of trust and personalized services are essential, persona marketing can become a powerful strategic lever. It enables us to better understand customer expectations, tailor offers and optimize communication campaigns according to the specific profiles identified.
Key elements of a persona
A marketing persona generally consists of the following elements:
- Fictitious name and profile: A fictitious name, accompanied by a brief biography, is assigned to the persona to make it more tangible and human in the eyes of marketing teams.
- Demographic data: This information includes age, gender, marital status, place of residence, income level and occupation.
- Goals and motivations: What is this persona trying to achieve, both personally and professionally? What are their aspirations or financial goals?
- Pain points: What are the frustrations or difficulties encountered by this persona, particularly in relation to financial services? This information is crucial for creating offers that address these specific issues.
- Purchasing behaviors and habits: Where and how does this persona obtain information? What are their preferred communication channels (social networks, email, agency visits) and how do they make decisions?
- Values and concerns: What factors influence this persona’s choices, such as transparency, security, or the social impact of its financial decisions?
The use of persona marketing in banking
For a bank, persona marketing enables services to be better targeted to the specific needs of different customer segments. For example, a bank might create a persona for a 30-year-old young professional who is looking for a flexible bank account and digital banking services tailored to her connected lifestyle. This persona could be named Marie, 30, an executive in a technology start-up, who mainly uses mobile apps to manage her finances. She is looking for easy payment solutions and online services that enable her to manage her money without having to visit a branch. By understanding the expectations of this persona, the bank will be able to develop innovative products, such as a banking app with an intuitive interface and real-time financial management tools, while targeting Marie via advertising campaigns on social networks or by email.
At the same time, the bank could have another persona, Jean, 55, a company director, who favors investment security and personalized advice. Jean is less preoccupied with digital tools and prefers a direct relationship with an in-branch advisor. This persona would enable the bank to adapt its services by offering him personalized financial advice and more traditional communication, notably by telephone or via face-to-face meetings.
Marketing persona for an asset management company
For an asset management company, persona marketing helps to better understand investors and design products tailored to different investment profiles. A persona might be Paul, 40, a senior executive with a family, looking to diversify his portfolio while minimizing risk. Paul may be sensitive to issues of transparency and the long-term performance of the funds in which he invests. He keeps abreast of financial trends via specialized blogs and is interested in ethical or responsible funds. Based on this persona, the management company could design an ethical and sustainable investment offer, accompanied by transparent communication on performance and fees. It could also target Paul via personalized email campaigns, highlighting case studies or reports on ethical funds.
Another persona, Sophie, 30, an executive in an international company, is younger and tolerates a higher level of risk. She looks for investment opportunities that offer high returns, even with increased volatility. She is active on social networks and closely follows fintech innovations. To meet Sophie’s expectations, the company could offer more innovative products, such as cryptocurrency-based portfolios or technology funds, and reach her via interactive content on social networks.
Marketing persona for a wealth management advisor
For a wealth management advisor, persona marketing helps to tailor financial advice to individual wealth objectives. For example, a persona like Isabelle, a 45-year-old entrepreneur, is looking to optimize the taxation of her income while preparing for retirement. She is busy managing her business and expects fast, efficient services, with regular but concise communication on the evolution of her assets. She mainly uses e-mail and appreciates videoconference meetings. By understanding Isabelle’s specific needs, the advisor could propose customized wealth solutions tailored to her entrepreneurial situation and tax concerns. He could also use simplified monitoring reports to provide her with clear, concise updates.
Another persona, Pierre, 60, retired, has different objectives. He wants to protect his assets and pass them on to his children, while ensuring a comfortable income. Pierre prefers face-to-face meetings and places great importance on the human relationship in his financial decisions. By using this persona, the advisor could develop a more personalized relationship with Peter, by organizing regular meetings to discuss the management of his long-term assets, while proposing suitable inheritance solutions.
The importance of persona marketing in the financial sector
In the banking, asset management or wealth management sectors, persona marketing helps to deliver a more relevant and personalized customer experience. By segmenting customers into distinct personas, companies can adjust their offers, communication tone and channels to maximize customer engagement and satisfaction.
This type of strategy becomes even more relevant in the digital age, where consumer expectations evolve rapidly and data on customer behavior is abundant. A bank, for example, could adjust its campaigns in real time according to the behaviors observed among its personas. Similarly, an asset management company or wealth advisor could refine its proposals in line with economic trends or market developments.
In short, persona marketing is a powerful tool for financial institutions seeking to better understand their customers, personalize their offers and improve the effectiveness of their communications, while strengthening the relationship of trust with their various audiences.
