Your product or service may be beneficial to individuals in every demographic you can think of, but that doesn't mean your brand should target literally everyone. In fact, taking too broad of an approach can actually do more harm than good. Not sure how a narrower branding effort can help your business? Here are a few reasons it could be the right move:
You'll Target the People Most Likely to Buy
Your target audience is perhaps your strongest source of revenue – that's the reason it's your target! But this group of individuals isn't your audience because you want it to be. Rather, it's your audience because it aligns with your company's goals, mission and style. What's more, your target audience is most likely to want or need your service. For instance, high-end kitchen supplies may help everyone cook better meals, but the target audience of such products includes people who can afford the luxury and who enjoy cooking. Retailers of cookware can create a brand that appeals to other demographics, but it may contradict the products themselves.
Research who is most likely to use and love your products, and narrow your brand to target those individuals.
You'll Help Others Get to Know Your Business
Your business goals and values shape the type of company you build. Whether you try to improve lives with your goods or services or put some of your profit toward charitable endeavors, your branding should speak to those unique features. Everything from colors to fonts to the language you use paints a picture of your company. For this reason, every choice you make in your branding is important.
Avoid anything too general and instead develop a website, marketing materials, business cards, etc., that speak to the values your company holds. For instance, if friendliness is at the heart of your brand, don't use wording that's snarky. Or, if your brand is romantic, stick to advertisements that reflect that.
Expanding Could Be More Successful
A study conducted at BI Norwegian Business School found that companies that used a narrow brand strategy had more success expanding their product line than companies that followed a broad strategy. Whether you're still trying to establish your independent business or thinking of ways to expand in the future, establishing a narrow, targeted brand first may be instrumental in guiding your growth.
Re-examining your company's values and goals and identifying your target audience can help you establish a specific brand that your customers will start to notice.
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