Consumers are consistently purchasing your product or service, indicating that you’ve identified your brand’s target audience. Every brand’s goal is to have a dedicated following of loyal supporters, but do you ever wonder if your brand is missing out on another audience segment? You may be missing out on additional revenue from a more niche group.

Because trends, cultures, and lifestyles are always in flux, it is important to be willing to test different marketing strategies. For example, if you’re marketing only to a specific demographic such as men ages 18-25, you might be missing out on potential revenue by not targeting women the same age. Others might find your product or service valuable, but you won’t know until you conduct the necessary research and change your strategy.

You don’t want to miss out an any opportunity that can drive more revenue. Trends that were happening three to five years ago are most likely not popular now. Figure out the pain points of your brand’s purchaser; consider how your brand can keep up with the changing times and how to increase your audience reach.

Messaging plays a huge role in your brand’s consumer experience. Think about how you deliver your brand’s message to your current customers. How do they perceive your product in the store? Providing transparency on packaging allows a shopper to clearly understand what your brand has to offer.

Your Brand’s Persona

When you create posts on social media, blog content, or email marketing campaigns, the messaging should align with the certain persona you develop for your brand. This is what gets someone to engage with your business. It’s important to remain consistent across all platforms so that the consumer fully understands what your brand values, who your brand is, and what your product can do for them.

Consistently reevaluating what your product can do for consumers is an integral part of understanding your target market. Think about your value proposition and develop at least three ways it aligns with your potential customer’s needs. For example, identify if your product is more affordable than the leading competitor brand or if you need to switch to more sustainable packaging  to align with your customer’s values. By staying on top of trends and catering message to a customer’s pain points, you can continually target new consumers and incorporate new strategies into your marketing plan.

Data Collection

Analyzing demographic data from your website and online social media channels is an easy way to learn more about your target consumer. If you want to reach a new location, you can use data and analytics to tailor messaging to a new potential market. Consumers in the midwest may have different uses for your product than those living on the west coast, for example. Finding common trends for customer

types depending on their demographic data, location, and use case can help you build diverse target consumer segments.

Highlighting Your Benefits

Targeting another audience segment doesn’t mean you have to abandon your current one. For example Coach, a luxury handbag brand, has always appealed to an older, more established audience. Recently, they started targeting a younger audience by changing the design of some of their purses while still highlighting the durability and quality of their products. This approach allows them to go after a new audience segment without losing loyal brand advocates.

Grocery brands can also make this change. Changing the appearance of your packaging is another marketing strategy that can grab a shopper’s attention. Highlighting your products health on packaging entices both the young and older generation as many consumers nowadays look for transparency when purchasing food products.

What Works Best for Your Brand?

To stay competitive in the market, it’s important to understand the changing landscape of the industry. You can risk losing market share to competitors if you don’t utilize data and trends to identify your best consumer segments. Millennials and Gen Z consumers have started a massive shift in the retail market.

Consider which audience your brand’s product or service can begin to reach and how it can benefit others, not just your current consumer. To stay on pace in the retail industry constantly mine your data, analyze competitors (both in store and in online marketplaces), and keep an eye on trends and innovation in your space. Adopting this strategy long term enables you to cater your marketing strategy to each target audience segment. As a result, your brand will likely see additional growth and revenue.

Alliance Sales & Marketing is all in for brands coast to coast. Representing and building brands, we provide opportunities catered to your goals. Our data-driven approach allows us to create a custom marketing strategy to take your brand to the next level. Contact us today to learn more.