Do you have unicorns among your clients?

So, who exactly are Unicorns? Simply put, they are your very best customers. Unicorns are the customers every business wants, but are exceedingly rare. It could be because they pay big monies and contribute to a large chunk of your revenue or because they are a delight to work with and your team loves spending time with them. These are what companies call their “key accounts” – the kind every business would like to have more.
That said, the question arises, is it worth trying to chase this target market? Many a sales and marketing teams waste time trying their hand at wooing this segment without gaining any traction. Because Unicorns are a rare phenomenon, as a business, you cannot entirely rely on these customers to grow your business. The real opportunity lies with the herd.
Your best opportunities lie with everyday customers. These are what we call ‘average’ customers, who may not be ideal or reap as much profit for your business as the unicorns, but they are available in significant numbers and are the segment you want to focus on!
Smart branding is all about engaging the herd which when done right will help you grow your business manifold.

In the herd you have the opportunity to find the repeat customer who will value your product or services. An apt example of this is Apple. Armed with a clear strategy of targeting the herd, Apple manufacturers a small range of products purchased by millions of people every year. Obviously, it is working out just fine for them!
That said, we are by no means discounting the power of unicorns – they are your star customers, but they are elusive and moreover, all unicorns you find might not fit your brand well. But, if you do catch hold of one, hold them tight. However, true to their name, they are anomalies. It is precisely why you need to focus your branding and marketing efforts on the herd where you will find numerous customer opportunities.


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CATEGORIES: Branding

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