A common fear about selecting a single target market or audience persona is that focusing on one market when making branding strategy decisions is risky. The fear is target marketing will cause a brand to miss stellar growth opportunities coming from other markets or audiences. That rationale suggests the best course to capitalize on a brand’s full market potential is to avoid targeting any markets or audiences and instead do what you do with every market or audience in mind.
I can understand why a brand owner may think that. Unless you pick a market or audience that is so narrow and a position so extreme that it is off-putting to everyone not targeted, however, it's not likely to play out that way.
Why Target Marketing Won't Cripple Your Branding Strategy
Here's an example of how target marketing helps your branding strategy:
From the outside, one suspects Starbucks targets only a coffee drinking audience. Maybe there are multiple targets, but they all revolve around coffee drinkers. I haven't had a cup of coffee since I was three years old, so I am clearly not in a Starbucks target market.
Since Starbucks doesn't offer Diet Dr. Pepper (my preferred caffeine delivery vehicle), it is foregoing revenue from me and others not buying soft drinks. Yet even though I’m not a coffee drinker, that doesn't mean, I am not a Starbucks customer. When traveling, I seek out the Starbucks brand for food. It's a known brand, and its standard food items are nearly as ubiquitous as its retail presences. They have water, which I'm also buying when I travel. In the grand scheme of things, I'm guessing Starbucks doesn’t lose tremendous growth opportunities by not selling soft drinks since doing so would be off-brand.
Working with this example, here's an alternative way to think about targeting markets and personas: Consider your strategic targeting moves as making strategic prioritization decisions for your brand.
Starbucks would be foolish to prioritize anything I personally wanted from the brand (get rid of the coffee smell, add soft drinks, have a food-only payment line to speed things up) since my preferences are way outside its target market. By prioritizing product development, brand experience, innovation, and everything else around its target markets, Starbucks maintains the strength of its brand. It is in a much better position to grow its presence thanks to picking a target market and prioritizing what it does based on choices the target audience expects and will reward.
If you have hesitated embracing a more focused marketing and messaging strategy focused around a target market, now is the time to get over it! – Mike Brown