Personality modeling is a powerful tool in B2B lead prospecting. Understanding the different personas of potential customers, helps businesses tailor their marketing strategies to attract the right prospects. Interestingly, individual traits also influence purchase decisions. Buyer intent varies depending on personalities and it is imperative to understand these to boost conversion rates.
In the fourth in the series of personality types, we explore the Risk Taker.
Mastering the Right Approach for the Risk Taker: How to engage and convert better
Do you ever wonder what sets some executives apart? Why do some appear to thrive on the excitement of the unknown, seeking opportunities where others hesitate?
The answer lies in their approach to risk. Some people display a clear risk-taker persona. As marketers, recognising this persona and adopting a personalized approach to engage them will definitely help boost your conversion rates.
After exploring the Leader, the Traditionalist and the Experience Seeker in the previous posts, here we will explore the characteristics of a risk-taker, the importance of tailoring your approach to their individual needs, and the strategies to effectively engage and convert this unique group of B2B prospects. By the end, you will have a deeper understanding of how to identify and connect with risk-takers, ultimately leading to greater success in your B2B sales and lead prospecting efforts.
What are the characteristics of a risk taker persona?
Identifying a risk taker persona can be a crucial input for targeted marketing strategies. While it is important to note that not everyone exhibits the same behaviors, there are certain characteristics that can indicate a propensity for risk taking.
Personality modeling algorithms reveal that a foremost behavioral sign of a risk taker is a willingness to explore new and unconventional ideas. These individuals often seek out novelty and are open to trying new experiences, whether it be in their personal lives or purchasing decisions.
Another is fearlessness. Moving past the fear of failure and not being afraid to step outside their comfort zone is a key trait of the risk taker. They exhibit a sense of adventure and an ability to adapt quickly to changing circumstances. This makes them the ones most likely to take chances on products or services that promise excitement or innovation.
Ariana Huffington, founder of the highly successful and first online news publication, Huffington Post, says "Failure is not the opposite of success -- it is the stepping stone to success. For anyone who is an entrepreneur, that is perhaps the most important lesson."
A third sign of a risk taker persona is a high tolerance for uncertainty. These individuals are comfortable with ambiguity and are not easily deterred by potential setbacks or failures. They embrace the unknown and are willing to take calculated risks, even if the outcome is uncertain.
A fourth trait is being driven by the positive potential of risk taking. Entrepreneurs and business leaders with a risk taker persona are motivated by the potential rewards that come with taking risks. They are less concerned about potential losses. They move past the fear of failure.
Tailoring the right approach
To approach risk-lovers and appeal to their risk appetite when selling a product or service, follow these steps:
- Focus on the risky nature of the product or service: Highlight the potential risks and emphasize the high returns that can be achieved. Risk-lovers are more likely to be attracted to products or services that offer excitement and the potential for substantial gains.
- Articulate the extreme and risky aspects: Identify the more extreme, fear-inducing aspects of the product or service that others might shy away from. Explain how these risks can actually be beneficial in solving a specific issue or providing the best results. Frame these risks as opportunities for those who are willing to take them.
- Understand the risk appetite of the customers: It's essential to have a thorough understanding of the risk appetite of the target audience. This can be done through market research and customer surveys. Tailor the sales approach accordingly to match their risk preferences.
- Use risky visuals and language in communication: Incorporate risky visuals, such as images or graphics that evoke excitement and thrill, in emails or other communication channels. Additionally, use language that conveys a sense of dominance, power, and opportunity. For example, the language can emphasize how champions rise above competition and dominate the sector.
Developing the right strategy
Striking a balance between highlighting the risks and benefits or rewards is important. It's crucial to provide clear and accurate information, ensuring that potential customers understand the risks involved and are making an informed decision. Creating a strategy to define the right approach to the risk taker can help you create a roadmap to engagement and conversion success.
Appeal to Risk-Takers:
Craft a strategy that uses assertive language to resonate with customers who thrive on risk. Such customers are more likely to be drawn to bold, daring messaging.
Leverage Sales Personality:
When working with sales personnel, seek individuals with a high-octane, persuasive style. Their ability to convey confidence and conviction complements the risk-eager approach, making them effective in selling products to this target audience.
In marketing and sales, focus on instilling a sense of sector dominance in the minds of your risk-taking customers. Highlight the attitude and mindset needed to conquer their chosen sector, rather than dwelling on product guarantees or shipping details.
Recognize that risk-eager customers often prioritize their goals over price. This means you can be less concerned about extensive guarantees, legal jargon, refund policies, or shipping costs when engaging with this audience. Instead, emphasize the transformative power of your product or service in their ventures.
When engaging with a risk-taking persona, it's imperative to embrace boldness. Don't hesitate to push boundaries and challenge the status quo, as these customers thrive on risk. Tailoring your approach to reflect their adventurous spirit can lead to more successful interactions and ultimately, a deeper connection with this dynamic audience. Remember, in the world of risk-takers, fortune favors the bold an uninhibited.
At Think ABM we do not stop at identifying audiences based on demographics but also look into psychographic data to ensure that the target is the right fit for the business. Each personality type is different. The heavy lifting we do in finding the perfect match helps our clients experience dramatically higher engagement and conversion rates.
To know more, get in touch with us today!
“It is when businesses understand their buyers best, that they are able to provide maximum value to them.”