Don’t Put All of your Eggs in One Basket: It May be Time for Customer Diversification

Customer-Diversification

 

‘Going big’ for a brand means diversifying the customer base. Every business wants a wide range of audience who bring values, expectations, and experiences. Five decades ago, a successful market depended on business potential. However, today they majorly depend on the ‘consumer market.’

Developing a diverse customer takes more effort than merely printing brochure in different languages. They require commitment and willingness to become adaptable for the business practice to meet the multi-cultural audience. For instance, the homebuilders are trying to change the model offered with new amenities, fully-furnished places, and community development on the property site. This is because now people need more than just home to stay.

Understanding Diversifying customer base:

When a customer comes knocking for your product or service, they exactly know what they are looking for. Moreover, this depends on our customer base specifically if your customers are constrained to one industry or particular region then it’s a red flag. The buyer always wanted to check if you are building stable relation across different niches and background. Let’s make this simple.

Consider you have a company running on two or three tire supplier in auto parts. The revenue of your company comes from five customers. Now, what do you think will be the possible outcome if three of them change suppliers? Here it does not mean that your sales are dropping but also intends that your customer is not happy.

Hence marketing for diverse customers is necessary to enhance the revenue flow and to improve on how well you can control the customer-relationships. Here are a few marketing strategies and growth hacks listed for the broader audience.

Crafting the template:

If you have decided to diversify the marketplace, then you see that different people need different messages. Rather than calling the audience, now they become a cluster of the individual community. Your marketing strategy will be to develop messages differently on the same template. There are numerous high-level corporates have understood and adopted this concept of “The same Template with the different message.”  The copy and pasting images will not work in a variety of audience. In this case, instead of an in-house team, the companies are curious about the ideas and pitches made by hiring a partner agency.

It is clear from the statement provided by the BMW reports to AdAge. It is noted that collaborating with a team outside helps in enhancing or leveraging the perspectives and experience of targeting different people and communities.  The marketing for customer diversification is successful when you don’t force the existing campaign to fit in the multicultural background. Instead, you need to translate the content or ground up and build the new message from scratch respectively.

BMW trip series launch in 2018 June tapped in the audience targeted at America, Africa, and Latino. However, the brand found a whole space of LGBTQ consumer segment in the same country itself, and it is found to be broad. They merged with the partnering agency and released a series of the campaign supporting the LGBTQ community which adversely has an impact over their sales and earned the position of Top 10 Gay-friendly cars.

Planning Beyond Engagement:

What’s crucial about building a marketing plan for an interest group that has limited familiarity?

The biggest challenge is making them engage or resonates the message. Every market is different from one another.  The things worked for one region will not correlate with the impact on the other side of the world. Perhaps you need to get your foot in the door to make this work eventually. Many brands have failed to make the audience attempt or influence their decision even after a successful segmentation of the audience.

When you have entered in the untapped market, yet there you have people who are not part of your audience. The only solution to overcome the challenge is inclusion. On a brief discussion at Whosay, the panel of experts say that make your campaigns ‘Inclusive’ rather engaging. The message has to culturally fit for the audience, and this is where you find ‘Engaging’ is easy, but ‘Inclusion’ is difficult. This is because it only works when your campaign influence against their nature, human instincts and changing their hopes on the legacy in purchasing decision.

According to WARC report, the Procter & Gamble (P & G) is building a healthy multicultural marketing muscle where their insights are based on the Inclusion. They target different cohorts of the same region, and one such attempt was about the minority communities in the U.S. Market. This is highlighted from their campaign on CoverGirl Advertising names “Easy, Breezy Beautiful.” Instead of choosing the white, slim and young women they choose women who are powerful, strong and especially black women. This campaign struck in the minds of the audience and revolutionized the brand’s role in women empowerment. It bagged them with Top 20 Brand

Ramp your PR:

The best content for the campaign elevates your marketing and help in reaching a wider audience. Content is the key to address persistent customers and help them to purchase readily. As a brand, you might have a standard communication tool. However, we need Omni channel presence if you are looking from a diversification perspective. Also, this reduces a heavy operation burdens and get the advertisements for free. The TV, News, Banner ads are typical for the local business, but if you want to attract a large number digital media is the “go-to place.” Especially social media contribute in enhancing your business model for the diverse customers. However, all you need is the right balance, consistency, and frequency.

Paul Weber, CEO of Entrepreneur Advertising group, says that if a company is targeting only social media and ignorant about other media, they would still miss the part of the audience. If they focus only on networking, they will fade away from the market within no time. Hence allow your brand to make a presence in every media and customize the marketing place.

The Charmed Life Products, maker of Grilling accessories, has planned a PR for the entire three to five years. It is necessary to personalize them, but the template would remain the same anytime. The company has media outlets which are more than 50 and turn in many investors along with the customers.  The product has appeared in both The Big Idea and ABC’S shark tank which took her product more than home. It established her credibility among the top restaurants and hotels.

Turning Visual audience to Real:

The transformation of the virtual audience to takes some effort and follow up. Once you turn them in, you are going to achieve all your business goals. The audience does not have to stay virtual; they must believe that they are capable of purchasing your product or service.  This is performed only with the help of analytics that you receive from the campaign. The insights and analytics push the brand for the multicultural groups and segments. The campaign performance drives the positive impact on the ROI. This increases the chance of buying the product. However, you need to formulate them only based on the evaluation. If there is something that needs change, do them right away.

This is an alarm to many brands in the market. It is because if you see, there are many brands which are still untouched by the several communities. How do you solve this? The rule is simple; when you create marketing assets digitally, it must reflect the lives of the consumers. Hence creating custom versions are highly appreciable and this will drive the message directly to the home. This can be as simple as how Ted’s Butcherblock planned their conversion.

Ted’s Butcherblock is a butcher shop in South Carolina who played a smart game in making a real audience. The brand designed a social media campaign which said: “Be the first one to come in and say I love bacon.” Also, the restaurant mentioned that the people who post that would receive free tickets to Bacon dinner. The shop typically had to shut down the campaign with three weeks as they have thousands of people who came forward to post this video. What we need to look in this campaign is that the brand very well knows how to change his followers into the real audience. It can be simple but establishing where you make the audience participation for your campaigns.

Wrap Up:

If you are looking at the different ways in which you wanted to increase brand value among a diverse audience, then you must be vulnerable as a brand. It would be best if you allowed the community across to access your brand and accept them to be a part of contributing.  It can be in the form of money, sales, conversion, and audience. There are only a few top brands that do successful multicultural marketing because they are sensitive. It makes them look unique and help in reaching new markets, investments and ignored customers.

Be the brand that touches the lives of people, reflects their personality and grows diverse.

 

Lisa
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About Lisa

Hey! Thank you so much for stopping by. I'm Lisa - a homeschool mom of 3 (2 boys and 1 girl). I care about the strength of the family in America, and often blog about babies/kids, natural parenting, homeschool, and marriage. Before you leave, please sign up for my monthly newsletter (on the top right). If you do, you will be well rewarded with notification of all giveaways and sales - which will not be announced on the blog. Google+ Profile

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