If we bring up the topic of brand segmentation, most everyone has a grasp on its definition. But so often it can be limited in actual use by businesses.
Let me ask a very simple question: can you spot the differences between the Coca Cola branding and the Diet Coke branding? Of course you can. They use different colors, font treatments, and have very different messaging. And there’s a good reason why: they have different target markets, thus the need to position them differently. If they had the exact same branding it would become unnecessarily difficult for consumers to recognize which product was right for them.
Which brings us to the importance of brand segmentation. If your company has multiple product or service offerings but no differentiating factors between how they are positioned, you’re putting far too great an onus on your potential clients to recognize the differences and make the right decision. By creating brand segmentation between your varying products or services, however, you’re immediately telling and showing potential clients what the differences are, making their decision process simple.
Take for instance our client, Cogniserv. As their business was expanding, so too were their service offerings. However, the growth created a level of chaos amongst their offerings, making it difficult for employees to even explain what the company did, not to mention the customer perception.
So at Polk Three, we suggested they segment their offerings into different lines of business to create:
- A simpler brand message
- Recognizable levels of expertise
- A simpler process for consumers
- A succinct message for their internal sales team
- Greater targeted marketing opportunities
- A measureable sales pipeline
Making sure to not stray too far from their existing corporate branding, we created four new lines of business, each complete with its own logo, color palette, and marketing materials. Now, people reviewing Cogniserv’s content can immediately recognizer the differences between each offering and can then determine which ones are right for them, all thanks to the implementation of brand segmentation.
Segmenting your brand will do more than simplify how customers internalize your business offerings, it helps to streamline how every aspect of your business is positioned. Your overall philosophy and mission statement gains substance and direction. Employees can recognize what the company is trying to achieve and operate accordingly. Each Line of Business can be properly monetized and tracked for effectiveness, with marketing campaigns focused on each category. Sales teams can work strategically to reach their goals with the added direction of core competencies.
All of a sudden, your business is more focused and you can assess and determine future goals faster than before. It guides EVERYTHING.
If your business is having trouble creating brand segmentation and need assistance, get in touch with us and we’d be happy to help.