In a recent meeting, leaders discussed the need to grow their business by expanding the brand’s customer base. Efforts to become more attractive to this broader base moved with unforeseen speed and precision. Internally, the company was impressed with the efforts. Unfortunately, the results would be less fulfilling.
Despite the company’s hopes, the new “customer” initiative was a dismal failure. Imagine targeting a 16 year old for your luxury car. Yes, they are eligible to drive. But, how many parents spend $100,000 on a car for a new driver?
Brands must be more discerning in their marketing efforts. Leaders should take more time to listen and observe their customer – their brand!