Brand Strategy: Redefine The Target Customer To Win
Many of the organizations that we have worked with have discovered that they can rejuvenate their brands by redefining the brands’ target customers. Brands can be revitalized by targeting new customers that:
- Have specific needs that are better suited to the brand’s offerings
- Have stronger values alignment with the brand’s values
- Derive more value from the brand than the brand’s current customers
- Are interested in a wider range of the brand’s products and services
- Are more frequent category users
- Have substantially higher long-term purchasing potential
- Are willing to pay more for higher quality products or enhanced services
- Represent the next generation of brand users
- Aspire to be more like the brand’s current customers
- Have fewer competitive options
- Are more loyal to brands
While this approach works in any product/service category, we have personally seen it work in the following categories: museums, airlines, professional sports, trade and professional associations, higher education, consumer durables, financial services, printing and home remodeling.
Often, when the target customer is redefined, the brand’s positioning changes too. This is why we always begin our brand positioning workshops by defining the brand’s primary, secondary and tertiary target customers.
So, the next time your brand needs to be revitalized, consider redefining your brand’s target customer. It just might give your brand the lift that it needs.
Sponsored By: The Brand Positioning Workshop