07 May 2008

The Beat of a Different Drummer

Exactly how wise is it to try and be all things to all people? In my estimation, not so much.

I’ve seen plenty of companies and brands get themselves in hot water because they’re trying to capitalize on every potential customer, every potential market, every potential place they can make a buck. To their detriment.

Diversify your stocks. But when it comes to diversifying your brand, be very careful. Your brand has equity, and those that know it make certain associations. (If they’re not the right associations, that’s a different problem). But haphazardly trying to jump on every bandwagon that presents itself can be hazardous to your brand’s health.

For instance, let’s say you’re a women’s clothing boutique but there’s a huge new trend in men’s fashion for some nifty new brand of jeans. Do you just rush out and pile up some inventory because they’re selling like hot cakes? Maybe, if you have men that frequent your store to shop for the women in their lives. Or women that would buy the jeans for their boyfriends or husbands. But are you certain that the market exists for YOU just because it exists elsewhere? Will your customers be perplexed by a mixed message?

It may seem like you’re narrowing the field of potential customers, and in a way that’s true. But the quote “know thyself” is important as well as its near cousin “know thy customer”. Altitude is a small but smart business that caters to businesses of all sizes, but we specialize in growing businesses and non-profits. We’re a little irreverent and a bit cheeky, but we’re nimble and fun. Some companies will relate to us, some won’t. And that’s ok.

Are you staying true to your roots?

No comments:

07 May 2008

The Beat of a Different Drummer

Exactly how wise is it to try and be all things to all people? In my estimation, not so much.

I’ve seen plenty of companies and brands get themselves in hot water because they’re trying to capitalize on every potential customer, every potential market, every potential place they can make a buck. To their detriment.

Diversify your stocks. But when it comes to diversifying your brand, be very careful. Your brand has equity, and those that know it make certain associations. (If they’re not the right associations, that’s a different problem). But haphazardly trying to jump on every bandwagon that presents itself can be hazardous to your brand’s health.

For instance, let’s say you’re a women’s clothing boutique but there’s a huge new trend in men’s fashion for some nifty new brand of jeans. Do you just rush out and pile up some inventory because they’re selling like hot cakes? Maybe, if you have men that frequent your store to shop for the women in their lives. Or women that would buy the jeans for their boyfriends or husbands. But are you certain that the market exists for YOU just because it exists elsewhere? Will your customers be perplexed by a mixed message?

It may seem like you’re narrowing the field of potential customers, and in a way that’s true. But the quote “know thyself” is important as well as its near cousin “know thy customer”. Altitude is a small but smart business that caters to businesses of all sizes, but we specialize in growing businesses and non-profits. We’re a little irreverent and a bit cheeky, but we’re nimble and fun. Some companies will relate to us, some won’t. And that’s ok.

Are you staying true to your roots?

No comments:

07 May 2008

The Beat of a Different Drummer

Exactly how wise is it to try and be all things to all people? In my estimation, not so much.

I’ve seen plenty of companies and brands get themselves in hot water because they’re trying to capitalize on every potential customer, every potential market, every potential place they can make a buck. To their detriment.

Diversify your stocks. But when it comes to diversifying your brand, be very careful. Your brand has equity, and those that know it make certain associations. (If they’re not the right associations, that’s a different problem). But haphazardly trying to jump on every bandwagon that presents itself can be hazardous to your brand’s health.

For instance, let’s say you’re a women’s clothing boutique but there’s a huge new trend in men’s fashion for some nifty new brand of jeans. Do you just rush out and pile up some inventory because they’re selling like hot cakes? Maybe, if you have men that frequent your store to shop for the women in their lives. Or women that would buy the jeans for their boyfriends or husbands. But are you certain that the market exists for YOU just because it exists elsewhere? Will your customers be perplexed by a mixed message?

It may seem like you’re narrowing the field of potential customers, and in a way that’s true. But the quote “know thyself” is important as well as its near cousin “know thy customer”. Altitude is a small but smart business that caters to businesses of all sizes, but we specialize in growing businesses and non-profits. We’re a little irreverent and a bit cheeky, but we’re nimble and fun. Some companies will relate to us, some won’t. And that’s ok.

Are you staying true to your roots?

No comments: