Narrowing your focus doesn’t limit your future growth but opens new worlds of opportunity.
Typically, when I ask a financial brand about the ideal audience they’d like to attract, they tell me they want to reach three audiences:
- Students, i.e., the 16- to 22-year-olds
- Prime lenders, i.e., 22- to 40-year-olds
- Depositors, i.e., 41- to 65-year-olds
Slight problem here: That’s basically everyone who’s 16 to 65 with money in their pocket and a heartbeat! I have to give these brands a wake-up call: You can’t be all things to all people.
If you try to do so, you become nothing to no one, especially with digital marketing.
