Just because the customer is always right, doesn’t mean every customer is right for you. I’ve seen far too many companies try to cater to the whims of their customer base, trying to be everything for everyone, that they lose track of who they are. And that often leads to a failure to address the core market, the customers that were there in the very beginning.
Companies “choose” their customers in a number of ways.
- How and where you market
- The types of products you offer
The key to a strong brand and consistent success in a crowded marketplace is to know who you are, and who you’re not. Start by defining the market of consumers you’re going after. Make this target audience as specific as you can (you can always expand it as you grow). And deliver what this audience is looking for, backed up by excellent service.
For sustainability’s sake, it’s better to be the #1 brand in your target market than #4 in a few different markets. When you control a market, you have the makings of a successful brand.