How many personas is too many?
The short answer is: It depends. There isn't really a magic number a brand or project should follow, but it is generally recognized that 3-8 personas are sufficient in most cases. Many people, including design professionals, are often confused about the differences between customer segmentations and personas.
Can you have too many personas?
You might think you're doing yourself and your team a favour by defining a bunch of personas, but having too many can be harmful. Chances are, with many personas, there won't be a clear delineation between them all -- making it really hard for you to actually attract, engage, convert, and delight any of them.
What is the ideal number of personas?
Depending on your business, you could have as few as one or two personas, or as many as 10 or 20. It is generally recognized that 3-8 personas are sufficient in most cases. We've never encountered the need for more than seven personas or fewer than two for each business segment or product line, if they're diverse.