Brand's Dharma?
To go deep & be meaningful to a niche
OR
To go wide & be just a solution for everyone?
Brands exist to enable charging a premium & hence delivering profits.
Not labels.
Labels exist to just exist. As a commodity. To be a me-too thus commanding no premium.
Of late, founders are talking about making profits. A sustainable unit economics.
Not growth at cost of profitability.
But profitability at cost of growth.
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Wanting to go deep.
To become a niche, to serve a smaller slice of a market, but differentiated.
Where consumers relate with you as you help them solve a pain, so effortlessly.
Because you chose to study it in greater detail, to devise a product, that ends their discovery!
Delivering a deeper experience with a meaningful story.
Over a period of time (with consistent efforts), more people start resonating with your story,
expanding volumes. Multiplying growth.
Brand becomes bigger and delivering higher profits.
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Vs wanting to go wide.
To offer to everyone.
To get more volumes.
To just grow, petering out long term benefits.
Becoming undifferentiated, to match the needs of everyone.
Becoming like a commodity with a label.
No deeper experience or story.
Just a label, an identifier.
In short term you win volumes.
Over longer term, you lose that growth vector.
More buyers find you as a solution, but meaningless.
Like bread, anyone could do.
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How to do it once figured the audience?
1. Identify the jobs to be done from functional, emotional, social perspectives for the cohort/s chosen.
2. Zero on one of the cohorts where the JTBD's are powerful & your product is doing that.
3. Define your Target audience persona at a deeper level - demographics, psychographics along with Behaviours (how do they use category, how they shop, who they ask, how they consume media) & Attitudes (who do they like/dislike, how do they feel about category)
4. Next step - Use the naunces in the Persona to define your brand positioning.
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