How to adapt your pricing strategy to your buyer persona

Request a demo


Profile picture for user Angela de la Vieja

Angela de la Vieja

In terms of marketing, the buyer persona is one of the elements that stand out most. Since traditional marketing strategies have begun to steer towards personalisation and 100% adaptation to the user, it’s become more than necessary to identify the public groups that the brand wants to target, one by one.

An exhaustive knowledge of specific audiences improves the communication between the brand and the same. In the same way, it allows any eCommerce business to adapt its products to their expectations as much as possible. When it comes to online pricing strategies, this is a fundamental factor to consider if you want to offer each user the price that will maximise your sales possibilities.

Why should you completely define the buyer persona?

The difference between the buyer persona and the classic definition of the target audience is the type of characteristics that are highlighted in each case.

The buyer persona goes beyond mere demographic data and involves itself in the real needs of the user as a consumer, understanding the concerns and the basic motivations that lead users to purchase an item. Let’s look at how this difference can be brought into the real world.

According to the definition of the target audience, an eCommerce business that sells technological products could realise that part of its user group would like to have Bluetooth headphones. Thus, the marketing strategy would be based on filling this niche completely with advertisements, promotions, and direct actions, which are often somewhat aggressive.

If they were to consider these users as buyer personas, they could realise that wireless headphones are the answer, for example, for the following users:

  • An avid music lover that wants to listen to music whenever and wherever, without relying on annoying cords;

  • A young, educated user that always wants to be on the cutting edge in terms of trends; and

  • A freelancer or digital nomad who is always connected and needs tools that will help them be more comfortable.

The data you need to define your buyer personas

The first thing you should keep in mind is that your eCommerce business isn’t aimed at a single buyer persona. Instead, you need to have as many buyer personas as necessary to cover all of the profiles that exist in your audience. Recommendation: it’s best not to exceed 3 to 5 profiles so as not to divert future efforts during the strategy. Make specific diagrams without muddling the whole.

Thus, to correctly define your buyer persona(s), you’ll need to know:

  • Who they are, which is the most traditional part of the data: age, sex (if relevant), where they live, etc.

  • What their lifestyle is like or the social profile they identify with: education, job title, family status, budget…

  • What concerns they have in everyday life: taking care of their family, going on holiday, or enjoying their free time, for example.

  • How the products offered by your eCommerce business can address those needs: a security alarm system, travel insurance, deals on activity packs, food processors that save time…

By collecting all of this data, you can create an outline of who the person behind each shopping cart really is. As additional data, it will help you know which devices are used the most and what stimuli they are most receptive to, so that these are included when defining your sales and pricing strategies. With the help of big data systems, you can obtain and analyse this data to have a general overview of what your potential buyer is like.

Assign different prices for each type of potential client

At this point, you might be wondering how the buyer persona is going to influence the pricing strategy of your eCommerce business. The answer can be summed up in just two words: personalised prices. This type of dynamic pricing strategy advocates the use of a specific price that varies by user based on the phase of the sale that they’re in and, of course, on their characteristics as a consumer. A buyer that is guided by impulse will be more susceptible to the lure of the final units, regardless of the price of the product. On the other hand, a more conscientious and rational user, who’s looking for a better product for their family, for example, will take longer to make a decision and will opt for a price that is as close as possible to the competition, while mulling over possible improvements in terms of service features.

Likewise, manipulating prices according to geolocation is another merit offered by assigning prices uniquely. This won’t always be based solely on demographic criteria. On many occasions, and in pursuit of an increasingly connected shopping experience, it will be possible to obtain the maximum profits possible by meeting the customer’s expectations.

Related Articles


Consumer behavior: How can behavior tracking be effective for setting the right pricing strategies?

Behavior tracking is becoming massively popular today. As a result, pricing strategies born from studying consumer behavior are a merchant's dream come true. If done right, it can conquer every market for the business quickly. With abundant data available, the strategic makeover of the pricing models is becoming easy for companies. 

What is behavioral tracking, and how is the data beneficial in pricing?

For a quick understanding, behavioral tracking refers to gaining in-depth knowledge and insights into consumers through their web data. Their browsing habits, spontaneous decisions, shopping interests, and preferences come under behavioral tracking. 

How can enterprises use customer behavior data?

Companies can use customer behavior data as a tool to strengthen their hold on the market. A customer’s preferences, values, and tendencies allow businesses to work in sync with them through the collected data. Apart from this, customer behavior can also aid in:

Tailoring customer needs for customer retention

Personalization is becoming the heart of a company’s growth. No matter in which area an enterprise is functioning, tailoring the services, products, and solutions is becoming increasingly crucial. Uniqueness and personalization attract the crowd like no other. 

Increasing the overall value

One of the best ways customer behavior data affects a business is by upgrading the value of customers for the business. The customer’s characteristics allow the company to target the people that match the business prospects well. 

Optimizing every type of content

Everything that is up for digital display requires content. You must have seen companies unveiling their products or services through advertisements and making the initial public appearance. Two essential sales strategies – upselling and cross-selling comes through content optimization.

Pricing Strategy

Last but certainly not least is the influence of customer behavior data on the pricing strategy. The pricing strategy essentially constitutes content derived from data analysis. Companies need to have a dynamic approach to the pricing system to attract the right customers. 


Saint Valentine’s Day, always a good opportunity

V-Day is looming, a long-awaited date for all and also a good occasion for the eCommerce. According the study conducted by Prosper Insights and Analytics, it is forecasted the average consumer expense that day will be the highest in last years. Furthermore, 25% of them will buy online, which means an increase of 4% regarding 2014 (The US department of Commerce). This is, therefore, a key date where market competitiveness increase and which could be assumed as a big opportunity for our business or, a big fail if we do not adopt the correct strategies.

How to turn this event into an opportunity? To achieve this goal, we need to adapt our prices to this hostile environment, i.e. we need to develop an appropriate Dynamic Pricing strategy that allows us to adapt our prices to the variations produced in supply and demand and to position us ahead of our competitors. In V-Day, the frequency in changes will be higher, carrying it out each hour or even each minute. It is estimated that 65% of leader retailers have the ability to respond quickly at these variations, such Amazon. For this reason, it acquires great importance the correct use of a software specialised in price motorisation of competitors. Do not miss the time and adapt your business to new adversities.


Which are the best footwear marketplaces to sell on?

Footwear marketplaces are booming. The last decade has seen the launch of new specialized marketplaces with millions of different users. Among them are Spartoo, Sarenza and Farfetch, portals with international reach. Their main value is that they unite hundreds of footwear brands, as well as offering clothes and accessories. Although each has its own characteristics, they are all vertical marketplaces, i.e., they focus on a specific area, and their sales categories are interrelated. For sellers, these portals provide an opportunity to expand sales channels and drive the globalization of their e-commerce business. We explain how to sell on these footwear marketplaces so that you can assess whether they align with your plans for the future and then start defining a possible pricing strategy.