When you think of your existing customers, do you see each one as being no different from any other? Of course not. Each of your existing customers comes to you with unique sets of problems for which you provide unique sets of solutions. What about potential clients, the leads in your pipeline? Are you approaching each one of them in the same way in which you are approaching every other customer? You may not think you are, but your branding may be doing just that.
If you work with each of your existing clients as unique and individual, then what did you offer in each case to earn their business? Of course, you approached them with solutions tailored to their unique needs. Does your branding reflect this kind of flexibility or do you assume your sales team can accomplish the sale if the customer will move past the boilerplate? While this approach seems to be working, do you know how many customers you have lost to your boilerplate branding?
Within the virtual and distanced marketplace in which you operate today, your business cannot afford to lose customers to competitors who understand and utilize rebranding to match the segmentation within their specific markets. Before you can rebrand, you must segment your market into the niches that make the most sense for the solutions your business offers. By dividing your target market into approachable groups, you can leverage this in product development, marketing, and sales strategies.
Once you have segmented your target market, then you can develop a rebranding strategy targeted to each niche you have identified.
Customer Segmentation Advantages
Market segmentation allows for a much more efficient and effective sales effort and results in:
- better response rates and lower acquisition costs,
- growth and increased profits,
- stronger marketing messages,
- targeted digital advertising, and
- attracting the right customers.
Rebranding
While rebranding for each identified market segment may seem overwhelming, keep in mind what you are accomplishing. A brand:
- connects you with your customers in key ways;
- provides impact and differentiation within a crowded marketplace;
- reflects your company’s mission, vision, and values; and
- garners the attention of potential customers.
Next Steps
Government Utilities Technology Service, Inc. (GUTS) puts its experience and expertise at your service to provide your company with the best technology solutions for the streamlined onboarding and execution of your web- and cloud-based market segmentation and rebranding strategies. Call GUTS today for industry-defining solutions provided in complete transparency.
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