WANT TO BE EVERYTHING TO EVERYBODY?
I’ve known business owners who wanted nothing more than to capture 100 percent of the market. Really? Yes, they thought 100 percent market share equaled success.
However, there’s nothing that dilutes a brand faster than being all things to all people. It’s not possible and it’s a toxic expectation for any business – because any brand that creates customer passion is, by its own definition, not for everyone.
Recently I came upon a product from an online beverage firm, specializing in chai drinks and latte mixes. It was love at first sip!
Shortly after we had finished our first cup, I was at my computer, looking for the company where I could order more of this amazing drink…and was shocked to see how “niche-y” the company was. Nothing but chai and latte products.
But it made perfect sense! By specializing in products that, indeed, created passion among their customers, this company could focus on what it does best…finding products for people who enjoy a daily cup of chai or latte to create an “experience.” No, the company offered nothing else, just chai and latte mixes…but their brand had tremendous impact because it established an identity “at first sip”.
In other words, they had defined their customer by simply carrying a small sliver of the beverage product spectrum. If they had attempted to be everything to everybody, this brand would have had no identity and no customer loyalty.
It’s a brand strategy worth considering. Know your product – know your target audience – and be all you can be to that specific demographic. Then, build your brand by focusing on your niche in the marketplace. If you build your brand, the – your passionate customers – will come!
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Valerie
